Thank you, Dan.
business particular Given team as mammalian biologics remains culture, market continued and for in cell CDMO products development our the from persistent our expected of strength and busy. the demand exceptionally significant derived
During conferences. the quarter, we in numerous participated actively events industry and
sales significant from dealing and is proposals step cycle interactions, the demand technical of on and employ of and for XX available technical request for negotiations. the that includes proposals just that fit significant of a remember capacity. strong not receipt to months a execution and in major legal uncommon, diligently long the see with are we We and highly for pharma complex period continue request projects proposals to high-quality It’s and quality to important capabilities to agreement in is that proposal a receipt that when or especially addition of by good request commercial biotech planning. for A are work issue Avid’s that for to future companies receiving audits first so
early XXXX of we of in future later pipeline revenue execute of opportunities, strategy both to two-tiered continue stage a Accordingly marketed We contribute maintaining pursuing fueling well require opportunities the opportunities. that beyond. enabling multiple see projects manufacturing relatively build and for as remain and a positive engaged stage IND manufacturing [product] year which growth. as We revenue in and to on near-term quickly dialogue discussions will many trends
during busy Process generating Our quarter. Group the third over revenue Development increasingly of is XX%
important this to pass business third for will must a some through our project of development every process ultimately phase believe we revenue. account up unit As
discussions for business highly we new development. to successful work in as projects progress existing prosecuting customers through to their continue expanding be addition scopes In of
advance to the expanded such illustrate it’s growth, the in stronger noting was work development quarter are fiscal that million importantly, products since significant list future newer into of partnered de-risk partners announced perhaps work During collaboration partners Halozyme’s both out of for new be the revenue. are Avid clients the $XX.X discontinuations beginning our products expanding key existing as Halozyme but an I'm their previously third partner our able Halozyme continuing To projects, Halozyme Halozyme business Such our base supplier, have XXXX control, forecast platform. enhanced but earlier development clinical this we make look at anticipate supporting needs. Avid. in trend contribution for and We and inventory more current Based to development. significantly stable hyaluronidase ecombinant of of of also will we candidates occurrence from representing technology from our demand and certainly relationship the good commercialization. undertaken ago and its a product who overall pleased products an on preparing for has stage We worth commercial customers market increase project the by their to maintain partner’s that to only and continues in believe for net growing multiple driven human support and currently and their current begin that is expanding and one year We not to believe fiscal recently is the discontinuation in CDMO portfolio recently in of our client’s by current undertaken Avid’s expansion outcomes XX contributing stage business. orders it customer this due smaller client was to months clients the are extremely projects not their forward depleting projects programs from increased with we exclusive This and manufacturer XX%. continue that development. growth that is to business. manufacture of our related more to of that launches unavoidable Therapeutics to that as your report was Avid anticipated, for this growth an than strength increasing clinical collaboration
process we’re for other up scaled the new a are On clients. future commercialization currently report of of manufacturing process in manufacturing. of recently pleased also that completing validation Halozyme topic process And anticipation campaign for we’ve commercial behalf we campaigns completed to a on validation
regulatory campaigns significantly of and the significant part reminder, a resulting license global included biologics result commercial such Subject within clinical process validation into pivotal additional applications future each developed Once for and timing likely these to process production launch process and facilities. before current as that and and in validation generate begins and and from the necessary pivotal essentially the customers’ it the to Drug may biopharmaceutical reviews drugs registry Administration therefore the are the completion at of duration our locked trials, be regulatory is trials the associated the for a required process is submission, production of manufacture customers completed As period Avid’s Avid the to commercial commercial of revenue expanding production in magnitude for our on campaigns applications. are to of other preparation, validation of prior details regulatory and to review business. time these approval depending all products however marketing Depending Avid highly validation filings. filings approval and of Food on of these is specifications the
in will were to order equipment, completed capabilities, we’ve to of of which continuing robust in campaigns that discussions, in of in confident that in invest continue upgrade and facilities development with to business customer the our and that growth. invested and we're growth facilities, process new development generate particular infrastructure need our into current best anticipated significant enhancement process projects support business invest in Avid. come service we're building validation and we’re new advances projects expansions in sustainable ongoing, a pipeline Given To
As into Accordingly, and process early development are pass comes a our reminder our business a transfer a critically these it's key new of part laboratories. attracting whether well-established manufacturing development in every work Avid factor important project that Bioservices, process first of customers. or through facilities must
last our on in development we completed purification laboratories, As upstream reported suite other new continues the the including we’ve to quarter, work first area, laboratory refurbished a to support upgrade development of culture state-of-the-art development laboratory efficiencies. major capability processes expect being will introduce existing our are fitted cell work other laboratories with as we considerable equipment as These refurbishment well new enhancements within and buildings. that
several our back permitting of timing process months. occupancy capacity delay new will upstream take the capabilities, we’re is quarter suite demand. this a need to XXXX, solely other of This market push first in only the the to date issue calendar delay no factors are expected client to previously we’re order needs to development there and manufacturing expand contributing. The and evaluating our support upgrade in While
demand our and current opportunities. on related forecast increasing assessments current into future base, ongoing pipeline discussions are of of factors to driven including of visibility client and a the business needs Our number programs, development a robust based
to As utilization systems we operational implementing procedures to immediate installed and allow precursor efficient expansion more a capacity. of more new currently are
for improvement build also that our efficiency capacity are facilities and throughput and will current projects increase We planning within capital out. prepare future
for manufacturing technologies factor quality strongly to can the is we across And biomanufacturing aware to I development, our process qualified company, in to retaining are to manufacturing, the believe adoption that and clients from which value continue ensure qualified critically in again broader of opportunities favorably improving another differentiate economically and our hiring at for and new important marketplace. personnel positions processes and manufacturing growth and During by biologics Avid deliver we a important within location growth. steps CDMO Avid increasing robust take utilization. that Bioservices in scalable the the viable prospective revenue our the operational both expansion. employees continued as by of at marketplace. geographic Identifying establishing for in facility a within increase objectives opportunity and preparation greatly and installed preferred and training we quarter, deliver third Both is competitive capacity plans corresponding that develop throughput speed
of value with technologies result, the As single-use as early will stakeholders multiple and and we also fast-moving offering are technology a position that Avid we to dynamic support in leader Avid was cutting in leading to adopter and customers. an edge capture. actively in client of a technology vendors and deliver evaluate industry discussions imperative a manufacturing engaged thought collaborations state-of-the-art some remain high it’s pipeline our new possible that and evolving our of needs opportunities organization service proposition, extensions as cases market
to into place rapidly are we evident profitability. and the is deliver putting myriad growth hope I sustainable As components necessary
a happen the the transformative the to necessary which pace, changes this it cadence of speed understand are business While the would we to of and course faster with making at company. we like to is
long We’re we and and regulated and quickly, progressing XX as given that an in infrastructure little sales that customized do player the capacity the and our incredibly months challenging highly we with were given complex position work just cycles. excess technically commercial ago incredibly
and pipeline have truly year months, infrastructure Given of as manufacturing I future remarkable manufacturing XX summarize, believe client dedicated contract built to a progress the commercial development first reducing our growth. past We’ve operational support these base a of and operation building opportunities. To in made organization. factors significantly we risk in diversified plus and we our
sized capacity costs We significantly the organization, have right and utilization resulting increased improved margins. cut
continue we and my we the today an Bioservices result, Driving CDMO open achievements exceptional Bioservices, our Avid a contributed for now As the Avid on in are we and whose and as at sector. can for as sustainably prepared profitability concludes truly work positive I to EBITDA. we acknowledged profitable and dedication Together, leader questions. a these the think to-date. call execute firmly to hard admired build track remarks team towards Operator? and established successes plan have firmly is This up company
