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.

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., April 15, 2021 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ: CDMO) (the “company”), 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 completed the redemption of all of the company's outstanding 10.50% Series E Convertible Preferred Stock (“Series E Preferred Stock”) as of April 12, 2021 (the “Redemption Date”).

Avid Bioservices Announces Completion of Redemption of Series E Convertible Preferred Stock

TUSTIN, Calif., March 17, 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 the company will participate in the KeyBanc Capital Markets Life Sciences & MedTech Investor Forum. Nick Green, president and chief executive officer of Avid Bioservices, will be the featured speaker in a fireside chat at the conference, which will take place March 23-24, 2021 in a virtual format.

Avid Bioservices to Participate in KeyBanc Capital Markets Life Sciences & MedTech Investor Forum

TUSTIN, Calif., March 10, 2021 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP) (the “company”), 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 wholly-owned subsidiary, Avid SPV, LLC (the “Issuer”), has priced its sale of $125 million aggregate principal amount of exchangeable senior notes due 2026 (the “notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The issuance and sale of the notes are scheduled to settle on March 12, 2021, subject to customary closing conditions. The Issuer also granted the initial purchasers of the notes a 13-day option to purchase up to an additional $18.75 million aggregate principal amount of the notes.

Avid Bioservices, Inc. Announces Pricing of $125 Million Offering of Exchangeable Senior Notes

Avid Bioservices, Inc. (CDMO) CEO Nick Green on Q3 2021 Results - Earnings Call Transcript

Avid Bioservices (CDMO) delivered earnings and revenue surprises of 150.00% and 9.03%, respectively, for the quarter ended January 2021. Do the numbers hold clues to what lies ahead for the stock?

Avid Bioservices (CDMO) Surpasses Q3 Earnings and Revenue Estimates

TUSTIN, Calif., March 08, 2021 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP) (the “company”), 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 wholly-owned subsidiary, Avid SPV, LLC (the “Issuer”), intends to sell, subject to market and other conditions, $125 million aggregate principal amount of exchangeable senior notes due 2026 (the “notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Issuer also intends to grant the initial purchasers of the notes a 13-day option to purchase up to an additional $18.75 million aggregate principal amount of the notes.

Avid Bioservices, Inc. Announces Proposed $125 Million Offering of Exchangeable Senior Notes

Shares of Avid Bioservices (NASDAQ:CDMO) increased in after-market trading after the company reported Q3 results. Quarterly Results Earnings per share rose 116.67% over the past year to $0.01, which beat the estimate of ($0.03).

Avid Bioservices: Q3 Earnings Insights

-- Third Quarter Revenue Increased 61% to $21.8 Million -- -- S igned $74 Million in New Orders to End the Quarter with a Backlog of $120 Million --

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

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

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

Humanigen

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.

News for Avid Bioservices Stock (CDMOP)