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Avid Bioservices, Inc. - CDMO STOCK NEWS

Welcome to our dedicated page for Avid Bioservices news (Ticker: CDMO), a resource for investors and traders seeking the latest updates and insights on Avid Bioservices stock.

Avid Bioservices, Inc. (NASDAQ: CDMO) is a distinguished contract manufacturing organization (CMO) that specializes in the development and production of biopharmaceutical products. As a subsidiary of Peregrine Pharmaceuticals, Inc., Avid Bioservices offers unique expertise in the manufacturing of monoclonal antibodies, recombinant proteins, and enzymes using mammalian cell culture.

The company excels in providing Current Good Manufacturing Practices (CGMP) compliant process development and manufacturing services. These services range from early-stage development to full-scale commercial production, making Avid Bioservices a key partner for biotechnology and biopharmaceutical industries.

One of the company's recent achievements includes securing a partnership with CIRM-funded programs, granting access to Avid’s suite of world-class CGT CDMO services to support clinical development activities. This collaboration underscores the company’s commitment to advancing biopharmaceutical innovations.

Core Services:

  • Monoclonal Antibody Development
  • Recombinant Protein Production
  • Enzyme Manufacturing
  • CGMP Clinical Manufacturing
  • Commercial Manufacturing

Avid Bioservices is renowned for its comprehensive development and manufacturing capabilities, which ensure a seamless transition from concept to commercialization. The company’s robust financial condition and strategic partnerships further bolster its position as a leader in the biopharmaceutical manufacturing sector.

By focusing on high-quality production standards and maintaining strong industry relationships, Avid Bioservices continues to play a pivotal role in the biopharmaceutical landscape, driving forward significant advancements in therapeutic development.

For more updates and relevant information about the company’s performance, recent events, and developments, please visit our latest news section.

Rhea-AI Summary
Avid Bioservices, Inc. (CDMO) plans to offer $160 million in Convertible Senior Notes due 2029 to qualified institutional buyers. The company aims to use the net proceeds to repurchase or repay its 2026 Notes, potentially impacting the market price of its common stock.
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Avid Bioservices, Inc. (NASDAQ:CDMO) announced preliminary earnings estimates for the third quarter and nine months ended January 31, 2024. Revenues decreased by 11% in the third quarter but increased by 33% compared to the previous quarter. The company signed new orders totaling $41 million, resulting in a record high revenue backlog of $206 million. Gross profit margins decreased due to fewer manufacturing runs and increased costs. SG&A expenses decreased by 10% in the third quarter. Operating loss was $4.0 million for the quarter. Avid is maintaining revenue guidance for the full fiscal year 2024 and completed its CGT facility expansion.
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Avid Bioservices, Inc. (NASDAQ:CDMO) recorded second quarter revenue of $25.4 million, signed $35 million in net new business orders, entered into a partnership with California Institute of Regenerative Medicine, and completed construction of a cell and gene therapy facility. However, the company is adjusting fiscal 2024 revenue guidance to $137 to $147 million, representing a decrease compared to prior projections.
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Avid Bioservices, Inc. (NASDAQ:CDMO) to Report Q2 Fiscal Year 2024 Financial Results on December 7, 2023
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Avid Bioservices, Inc. (NASDAQ:CDMO) has partnered with the California Institute for Regenerative Medicine (CIRM) to provide its world-class cell and gene therapy (CGT) CDMO services to support clinical development activities. This collaboration aims to accelerate gene therapy development and manufacturing for CIRM-funded programs, reducing timelines required to advance through clinical development.
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Avid Bioservices completes construction of CGMP manufacturing suites within its new CGT facility
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Avid Bioservices to participate in RBC Capital Markets Virtual CDMO Conference on October 2-3, 2023. Nick Green, CEO, will be the featured speaker in a fireside chat.
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Avid Bioservices reports Q1 revenue of $37.7M, a 3% increase YoY. Backlog increases to $189M. Cell and gene therapy facility expansion on track for Q3 2023 opening. Revenue guidance for FY 2024 remains at $145M-$165M. Net loss of $2.1M in Q1. Cash and cash equivalents at $24.9M.
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Avid Bioservices to report Q1 FY2024 financial results on September 7, 2023, and host a webcast. Senior management will discuss financial results and recent corporate developments.
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FAQ

What is the current stock price of Avid Bioservices (CDMO)?

The current stock price of Avid Bioservices (CDMO) is $10.63 as of October 4, 2024.

What is the market cap of Avid Bioservices (CDMO)?

The market cap of Avid Bioservices (CDMO) is approximately 681.3M.

What does Avid Bioservices, Inc. specialize in?

Avid Bioservices specializes in the development and production of biopharmaceutical products, including monoclonal antibodies, recombinant proteins, and enzymes.

What are some of the core services provided by Avid Bioservices?

The core services include monoclonal antibody development, recombinant protein production, enzyme manufacturing, CGMP clinical manufacturing, and commercial manufacturing.

What is the significance of Avid Bioservices’ partnership with CIRM-funded programs?

The partnership allows CIRM-funded programs to access Avid’s suite of world-class CGT CDMO services, supporting clinical development activities and advancing biopharmaceutical innovations.

Is Avid Bioservices a publicly-traded company?

Yes, Avid Bioservices, Inc. is publicly traded on the NASDAQ under the ticker symbol CDMO.

What sets Avid Bioservices apart from other contract manufacturing organizations?

Avid Bioservices is known for its extensive experience, comprehensive development and manufacturing capabilities, and high-quality CGMP standards.

Who is the parent company of Avid Bioservices, Inc.?

Avid Bioservices is a subsidiary of Peregrine Pharmaceuticals, Inc.

What types of clients does Avid Bioservices serve?

Avid Bioservices serves the biotechnology and biopharmaceutical industries, providing them with process development and manufacturing services.

What stages of development can Avid Bioservices support?

Avid Bioservices can support all stages of development, from early-stage concepts to full-scale commercial production.

How does Avid Bioservices maintain its high production standards?

The company adheres to Current Good Manufacturing Practices (CGMP) and employs rigorous quality control measures throughout the production process.

Where can I find the latest news and updates about Avid Bioservices?

You can find the latest news and updates about Avid Bioservices on their official website and in the news section dedicated to the company.

Avid Bioservices, Inc.

Nasdaq:CDMO

CDMO Rankings

CDMO Stock Data

681.33M
63.80M
1.1%
104.16%
21.9%
Biotechnology
Pharmaceutical Preparations
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United States of America
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