Avid Bioservices

Avid Bioservices, Inc. engages in the commercial manufacturing. The firm focuses on the biopharmaceutical products derived from mammalian cell culture for culture for biotechnology and pharmaceutical companies. It specializes in clinical and commercial product manufacturing, purification, bulk packaging, stability testing and regulatory submissions and support. The company was founded on June 3, 1981 and is headquartered in Tustin, CA.

Earnings data Q3 2021

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Avid Bioservices Achieves Record Revenues, Faces Margin Challenges

Avid Bioservices achieved record revenues and strong bookings, but faced challenges with decreased gross margins and increased expenses. Moving into the viral vector space and with a strong late-phase project pipeline, the company sees opportunities for growth in the next 12 to 15 months.

Avid Bioservices reports Q2 earnings, focuses on expansion and innovation

Avid Bioservices showcased positive operational performance with increased utilization of the new mammalian line fleet and a record backlog. While facing challenges related to net loss and revenue recognition delays, the company remains focused on expansion and innovation, presenting opportunities for growth in the cell and gene therapy space and later-stage products.

Avid Bioservices reports robust Q3 earnings and targets pharma growth

Avid Bioservices delivered strong financial results in Q3 2023, showcasing revenue growth and operational efficiency.
While facing challenges in margins and expenses, the company's strategic focus on quality and growth presents opportunities for expansion.
With a solid cash position, record backlog, and targeted business development, Avid is poised for continued success in the market.

Avid Bioservices reports record revenues and backlog, eyes strategic growth

Avid Bioservices delivered a strong performance in Q4 2023, marked by record revenues and backlog, showcasing operational efficiency and market demand.
While facing challenges such as margin impact and resource allocation shifts, the company remains optimistic about its growth prospects and revenue stability.
Strategic opportunities lie in leveraging the strong backlog, cash flow, and planned CapEx to drive future growth and operational excellence.

Avid Bioservices reports revenue growth and expansion plans for 2024

Avid Bioservices' Q1 2024 performance reflects revenue growth and strategic investments in expanding capacity and capabilities.
While facing challenges in gross margins and profitability, the company's progress on the new facility signals future growth potential.
Opportunities lie in leveraging the completed facility to drive revenue, enhance market competitiveness, and address analyst concerns for improved performance.

Avid Bioservices reports record backlog and growth opportunities for 2024

Avid Bioservices showcased financial resilience with an improved cash position and strong backlog, despite facing revenue challenges. The company's focus on new services, customer diversity, and operational efficiency bodes well for future growth.

Avid Bioservices reports revenue growth and strategic expansions in Q3

Avid Bioservices reported strong revenue growth and backlog performance in Q3, while facing revenue decline and cost challenges compared to the previous year. Strategic expansions and operational refinements position the company for future opportunities in a competitive market landscape.

Avid Bioservices reports revenue growth and new projects, faces cost challenges

Avid Bioservices reported positive revenue growth and secured new project agreements, positioning the company for future expansion.
Despite challenges such as increased SG&A expenses and a net loss, Avid's focus on capacity utilization and new programs offers growth potential.
Addressing operational challenges and uncertainties while capitalizing on opportunities can drive Avid Bioservices towards improved financial performance.
The company's financial stability, strong backlog, and focus on profitability highlight a resilient business strategy amidst industry dynamics.

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Avid Bioservices, Inc. engages in clinical and commercial manufacturing of biologics. It focuses on the biopharmaceutical products derived from mammalian cell culture for culture for biotechnology and pharmaceutical companies. It specializes in clinical and commercial product manufacturing, purification, bulk packaging, stability testing and regulatory submissions and support. The company was founded on June 3, 1981 and is headquartered in Tustin, CA.

TUSTIN, Calif., March 03, 2021 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced that its Board of Directors has declared a quarterly cash dividend payment on the Company's 10.50% Series E Convertible Preferred Stock (the "Series E Preferred Stock").

Avid Bioservices Declares Quarterly Dividend on Its Series E Convertible Preferred Stock

TUSTIN, Calif., March 01, 2021 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced that it will report financial results for the third quarter of fiscal year 2021 on March 8, 2021 after market close and will host a conference call and webcast at 1:30 PM Pacific Time (4:30 PM Eastern Time). Members of Avid's senior management will discuss financial results for the third quarter and review recent corporate developments.

Avid Bioservices to Report Financial Results for Third Quarter of Fiscal Year 2021 After Market Close on March 8, 2021

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Build Out of Myford Facility Will Expand Current Footprint to Include Second Manufacturing Train with Both Upstream and Downstream Processing Suites

Avid Bioservices Begins Phase 2 of its Myford Manufacturing Capacity Expansion Plan

BURLINGAME, Calif. & TUSTIN, Calif.--(BUSINESS WIRE)--Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP) (“Avid”) and Humanigen, Inc. (NASDAQ:HGEN) (“Humanigen”) today announced that they have entered into a manufacturing services agreement to expand production capacity for lenzilumab™, Humanigen's therapeutic candidate in development for COVID-19. Lenzilumab is an anti-human granulocyte macrophage-colony stimulating factor (GM-CSF) monoclonal antibody designed to prevent and treat an immune h

Humanigen and Avid Bioservices Enter Into cGMP Manufacturing Agreement for COVID-19 Therapeutic Candidate Lenzilumab in Support of Potential EUA Filing

TUSTIN, Calif., Dec. 14, 2020 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced the closing of its previously announced underwritten public offering of 3,833,335 shares of its common stock, including 500,000 shares sold pursuant to the underwriters' exercise of their option to purchase additional shares. The offering price was $9.00 per share, and the gross proceeds from the offering were approximately $34.5 million, before deducting underwriting discounts and commissions and estimated offering expenses. Avid Bioservices, Inc. intends to use the net proceeds from the offering primarily for the expansion of its manufacturing capabilities and any remainder for general corporate purposes.

Avid Bioservices Announces Closing of Public Offering of Common Stock

TUSTIN, Calif., Dec. 10, 2020 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced the pricing of an underwritten public offering of 3,333,335 shares of its common stock at a price to the public of $9.00 per share. The gross proceeds from this offering are expected to be approximately $30 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Avid Bioservices, Inc. The offering is expected to close on or about December 14, 2020, subject to customary closing conditions. Avid Bioservices, Inc. has also granted the underwriters a 30-day option to purchase from it up to an additional 500,000 shares of common stock at the public offering price, less underwriting discounts and commissions. Avid Bioservices, Inc. intends to use the net proceeds from the offering primarily for the expansion of its manufacturing capabilities and any remainder for general corporate purposes.

Avid Bioservices Announces Pricing of Public Offering of Common Stock

TUSTIN, Ca., Dec. 09, 2020 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced that it has commenced an underwritten public offering of its common stock. Avid Bioservices, Inc. also intends to grant the underwriters a 30-day option to purchase from it up to an additional 15% of the shares of common stock offered in the public offering. Avid Bioservices, Inc. intends to use the net proceeds from the offering primarily for the expansion of its manufacturing capabilities and any remainder for general corporate purposes.

Avid Bioservices Announces Proposed Public Offering of Common Stock

TUSTIN, Calif., Dec. 07, 2020 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced the appointment of Jeanne Thoma as an independent member of the company's board of directors. Ms. Thoma is a seasoned pharmaceutical industry executive with more than 30 years of experience spanning product development and commercialization, as well as operations and supply chain management.

Avid Bioservices Announces Appointment of Jeanne Thoma to Board of Directors

The company reported great fiscal 2021 Q2 results.

Why Avid Bioservices Stock Is Soaring Today

Avid Bioservices' (CDMO) CEO Nick Green on Q2 2021 Results - Earnings Call Transcript

Shares of Avid Bioservices (NASDAQ:CDMO) moved higher by 8.2% in after-market trading after the company reported Q2 results. Quarterly Results Earnings per share were up 133.33% over the past year to $0.01, which beat the estimate of ($0.06).

Recap: Avid Bioservices Q2 Earnings

-- Recorded Second Quarter Revenue of $ 21 .1 Million -- -- Signed $28 Million in Business Orders and Ended the Quarter with a Backlog of $67 Million --

Avid Bioservices Reports Financial Results for Second Quarter Fiscal 2021 and Recent Developments

TUSTIN, Calif., Nov. 24, 2020 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced that it will report financial results for the second quarter of fiscal year 2021 on December 2, 2020 after market close and will host a conference call and webcast at 1:30 PM Pacific Time (4:30 PM Eastern Time). Members of Avid's senior management will discuss financial results for the second quarter and review recent corporate developments.

Avid Bioservices to Report Financial Results for Second Quarter of Fiscal Year 2021 After Market Close on December 2, 2020

TUSTIN, Calif., Sept.  15, 2020  (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), today announced that it will hold its 2020 Annual Meeting of Stockholders (the “Annual Meeting”) solely by means of remote communication (i.e., a virtual-only stockholder meeting). This change is to protect the safety, health and well-being of its stockholders, directors, employees and the public during the COVID-19 pandemic. As previously announced, the Annual Meeting will be held on Tuesday, October 20, 2020 at 10:00 a.m. PDT.

Avid Bioservices Announces Move to Virtual-Only Annual Meeting of Stockholders on October 20, 2020

TUSTIN, Calif., Sept.  10, 2020  (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced that the company will participate in the 18th Annual Morgan Stanley Global Healthcare Conference.  The conference, which will take place September 14-18, 2020, is being conducted with a virtual format.

Avid Bioservices to Participate in 18th Annual Morgan Stanley Global Healthcare Conference

Avid Bioservices, Inc. (CDMO) CEO Nick Green on Q1 2021 Results - Earnings Call Transcript

Shares of Avid Bioservices (NASDAQ:CDMO) rose 6.81% after the company reported Q1 results.

Recap: Avid Bioservices Q1 Earnings

-- Recorded First Quarter Revenue of $25.4 Million --   -- S igned Three New Customers and Project Expansion Orders with Current Customers for $20 Million  --

Avid Bioservices Reports Financial Results for First Quarter Ended July 31, 2020 and Recent Developments

TUSTIN, Calif., Aug.  26, 2020  (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced that Mapp Biopharmaceutical, Inc., has contracted Avid to provide process transfer, scale-up and clinical manufacturing services to support one of its development programs for a novel antiviral drug candidate. Avid and Mapp will immediately commence the initial phase of the project.

Avid Bioservices Selected by Mapp Biopharmaceutical, Inc. for Clinical Development of Novel Human Monoclonal Antiviral Antibody

TUSTIN, Calif., Aug.  25, 2020  (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality services to biotechnology and pharmaceutical companies, today announced that it will report financial results for the first quarter of fiscal year 2021 on September 1, 2020 after market close and will host a conference call and webcast at 1:30 PM Pacific Time (4:30 PM Eastern Time).  Members of Avid's senior management will discuss financial results for the first quarter and review recent corporate developments.

Avid Bioservices to Report Financial Results for First Quarter of Fiscal Year 2021 After Market Close on September 1, 2020

TUSTIN, Calif., Aug.  06, 2020  (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced that Iovance Biotherapeutics (NASDAQ: IOVA) has selected Avid to provide process development, pilot-batch manufacturing and CGMP manufacturing services to support development of IOV-3001, a novel antibody cytokine engrafted protein.

Avid Bioservices Selected By Iovance Biotherapeutics to Lead Process Development Through CGMP Manufacturing of Novel IL-2 Analog, IOV-3001

Argonaut’s Clinical Fill-Finish Capabilities to Complement Avid’s Upstream and Downstream Process Development and Biologics Manufacturing Services in Supporting Developers of Biologic Therapeutics Argonaut’s Clinical Fill-Finish Capabilities to Complement Avid’s Upstream and Downstream Process Development and Biologics Manufacturing Services in Supporting Developers of Biologic Therapeutics

Avid Bioservices and Argonaut Manufacturing Services Enter Agreement to Offer Biotechnology and Pharmaceutical Clients Integrated Process Development, Drug Substance Manufacturing and Drug Product Parenteral Manufacturing

Avid Bioservices (CDMO) saw a big move last session, as its shares jumped more than 5% on the day, amid huge volumes.

Avid Bioservices (CDMO) Catches Eye: Stock Jumps 5.4%

The company still had significant production problems. But it also picked up a lot of new business in Q4.

News for Avid Bioservices Stock (CDMO)