Avid Bioservices is a dedicated contract development and manufacturing organization (CDMO) focused on development and CGMP manufacturing of biopharmaceutical drug substances derived from mammalian cell culture. The company provides a comprehensive range of process development, CGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries. With 28 years of experience producing monoclonal antibodies and recombinant proteins, Avid's services include CGMP clinical and commercial drug substance manufacturing, bulk packaging, release and stability testing and regulatory submissions support. For early-stage programs the company provides a variety of process development activities, including upstream and downstream development and optimization, analytical methods development, testing and characterization. The scope of its services ranges from standalone process development projects to full development and manufacturing programs through commercialization
Company profile
Ticker
CDMO
Exchange
Website
CEO
Nicholas Green
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
PEREGRINE PHARMACEUTICALS INC, TECHNICLONE CORP/DE/, TECHNICLONE INTERNATIONAL CORP
SEC CIK
Corporate docs
IRS number
953698422
CDMO stock data
Analyst ratings and price targets
Latest filings (excl ownership)
8-K
Entry into a Material Definitive Agreement
15 Mar 23
10-Q
2023 Q3
Quarterly report
13 Mar 23
8-K
Completion of Acquisition or Disposition of Assets
13 Mar 23
8-K
Regulation FD Disclosure
10 Mar 23
8-K
Departure of Directors or Certain Officers
9 Dec 22
10-Q
2022 Q2
Quarterly report
6 Dec 22
8-K
Results of Operations and Financial Condition
6 Dec 22
8-K
Amendments to Articles of Incorporation or Bylaws
21 Oct 22
10-Q
2023 Q1
Quarterly report
6 Sep 22
8-K
Results of Operations and Financial Condition
6 Sep 22
Transcripts
CDMO
Earnings call transcript
2023 Q3
13 Mar 23
CDMO
Earnings call transcript
2023 Q2
7 Dec 22
CDMO
Earnings call transcript
2023 Q1
7 Sep 22
CDMO
Earnings call transcript
2022 Q4
30 Jun 22
CDMO
Earnings call transcript
2022 Q3
9 Mar 22
CDMO
Earnings call transcript
2022 Q2
7 Dec 21
CDMO
Earnings call transcript
2022 Q1
9 Sep 21
CDMO
Earnings call transcript
2021 Q4
30 Jun 21
CDMO
Earnings call transcript
2021 Q3
9 Mar 21
CDMO
Earnings call transcript
2021 Q2
2 Dec 20
Latest ownership filings
4
Daniel R Hart
16 Mar 23
4
Richard B Hancock
3 Mar 23
SC 13G
T. Rowe Price Investment Management, Inc.
14 Feb 23
SC 13G/A
STATE STREET CORP
9 Feb 23
SC 13G/A
VANGUARD GROUP INC
9 Feb 23
4
Richard B Hancock
3 Feb 23
SC 13G/A
BlackRock Inc.
26 Jan 23
SC 13G
BlackRock Inc.
20 Jan 23
SC 13G/A
AltraVue Capital, LLC
19 Jan 23
4
Esther M. Alegria
17 Jan 23
Financial summary
| Quarter (USD) | Jan 23 | Oct 22 | Jul 22 | Apr 22 | |
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| Diluted EPS |
| Annual (USD) | Apr 22 | Apr 21 | Apr 20 | Apr 19 | |
|---|---|---|---|---|---|
| Revenue | |||||
| Cost of revenue | |||||
| Operating income | |||||
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| Change in cash | |||||
| Diluted EPS |
| Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 60.27 mm | 60.27 mm | 60.27 mm | 60.27 mm | 60.27 mm | 60.27 mm |
| Cash burn (monthly) | 5.79 mm | 7.50 mm | (no burn) | (no burn) | 2.31 mm | 1.26 mm |
| Cash used (since last report) | 11.69 mm | 15.15 mm | n/a | n/a | 4.65 mm | 2.54 mm |
| Cash remaining | 48.57 mm | 45.12 mm | n/a | n/a | 55.61 mm | 57.73 mm |
| Runway (months of cash) | 8.4 | 6.0 | n/a | n/a | 24.1 | 46.0 |
Institutional ownership, Q4 2022
51.1% owned by funds/institutions
| 13F holders | Current |
|---|---|
| Total holders | 170 |
| Opened positions | 17 |
| Closed positions | 29 |
| Increased positions | 66 |
| Reduced positions | 52 |
| 13F shares | Current |
|---|---|
| Total value | 831.02 bn |
| Total shares | 69.28 mm |
| Total puts | 26.40 k |
| Total calls | 30.10 k |
| Total put/call ratio | 0.9 |
| Largest owners | Shares | Value |
|---|---|---|
| BLK Blackrock | 9.92 mm | $136.57 bn |
| STT State Street | 5.12 mm | $70.55 bn |
| Vanguard | 4.35 mm | $59.89 bn |
| T. Rowe Price Investment Management | 3.61 mm | $50.17 bn |
| AltraVue Capital | 3.30 mm | $45.48 bn |
| Jennison Associates | 2.93 mm | $40.33 bn |
| FMR | 2.45 mm | $33.73 bn |
| Iszo Capital | 2.38 mm | $27.43 mm |
| IVZ Invesco | 2.20 mm | $30.33 bn |
| Tappan Street Partners | 2.18 mm | $64.66 mm |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 14 Mar 23 | Hart Daniel Ryan | Common Stock, $0.001 par value | Sell | Dispose S | No | Yes | 19 | 2,000 | 38.00 k | 46,957 |
| 14 Mar 23 | Hart Daniel Ryan | Common Stock, $0.001 par value | Option exercise | Acquire M | No | Yes | 5.66 | 2,000 | 11.32 k | 48,957 |
| 14 Mar 23 | Hart Daniel Ryan | Common Stock, $0.001 par value | Sell | Dispose S | No | Yes | 19 | 3,000 | 57.00 k | 46,957 |
| 14 Mar 23 | Hart Daniel Ryan | Stock Option(right to buy) Common Stock | Option exercise | Dispose M | No | Yes | 5.66 | 2,000 | 11.32 k | 230,380 |
| 1 Mar 23 | Hancock Richard B | Common Stock, $0.001 par value | Sell | Dispose S | No | Yes | 16.5942 | 5,000 | 82.97 k | 39,134 |
| 1 Mar 23 | Hancock Richard B | Common Stock, $0.001 par value | Option exercise | Acquire M | No | No | 4.67 | 5,000 | 23.35 k | 44,134 |
| 1 Mar 23 | Hancock Richard B | Stock Option Common Stock | Option exercise | Dispose M | No | Yes | 4.67 | 5,000 | 23.35 k | 188,266 |
| 1 Feb 23 | Hancock Richard B | Common Stock, $0.001 par value | Sell | Dispose S | No | Yes | 16.0154 | 5,000 | 80.08 k | 39,134 |
| 1 Feb 23 | Hancock Richard B | Common Stock, $0.001 par value | Option exercise | Acquire M | No | No | 4.67 | 5,000 | 23.35 k | 44,134 |
| 1 Feb 23 | Hancock Richard B | Stock Option Common Stock | Option exercise | Dispose M | No | Yes | 4.67 | 5,000 | 23.35 k | 193,266 |
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