Welcome to our dedicated page for Avid Bioservices news (Ticker: CDMOP), a resource for investors and traders seeking the latest updates and insights on Avid Bioservices stock.
The CDMOP news page aggregates coverage related to Avid Bioservices, Inc. and its associated securities. Avid is a biologics-focused contract development and manufacturing organization (CDMO) that provides development and CGMP manufacturing services for biotechnology and biopharmaceutical companies. News linked to CDMOP therefore reflects both the operational progress of Avid’s CDMO business and the corporate actions affecting its capital structure and ownership.
Recent company communications have emphasized Avid’s role in process development and CGMP clinical and commercial manufacturing of biologics. The company reports that it offers services such as drug substance manufacturing, bulk packaging, release and stability testing, regulatory submissions support, and early-stage process development activities including cell line development and upstream and downstream process optimization. News items often discuss how these capabilities contribute to new business signings, backlog, and the mix of early- and late-stage customer programs.
A significant portion of recent news has focused on Avid’s corporate transactions. In late 2024, Avid announced a definitive merger agreement to be acquired by funds managed by GHO Capital Partners LLP and Ampersand Capital Partners in an all-cash transaction valued at approximately $1.1 billion. Subsequent releases covered the special meeting of stockholders, approval of the transaction, and the closing of the acquisition. A February 2025 announcement from GHO Capital and Ampersand stated that the acquisition had been completed and that Avid’s common stock had ceased trading and would be delisted from Nasdaq.
Another important news theme involves Avid’s 7.00% Convertible Senior Notes due 2029. Following the closing of the merger, the company issued a Notice of Fundamental Change and Make-Whole Fundamental Change to noteholders, explaining their rights to require repurchase of the notes or to convert them at an increased conversion rate during a specified period. This type of disclosure is relevant for investors tracking CDMOP and related Avid securities, as it illustrates how major corporate events can affect different parts of the company’s capital structure.
By reviewing the CDMOP news feed, users can follow historical announcements about Avid’s financial results, backlog, new business wins, participation in industry conferences, and strategic transactions such as the acquisition by GHO Capital and Ampersand. This context helps investors and researchers understand how the underlying CDMO business and its securities, including preferred stock like CDMOP, have evolved over time.
Avid Bioservices reported strong second quarter fiscal 2021 revenues of $21.1 million, reflecting a 15% increase from the previous year. The company signed $28 million in business orders, raising its backlog to $67 million. Avid increased its revenue guidance for fiscal 2021 to $84 to $88 million, driven by higher customer demand and a significant backlog. The gross margin improved to 30% from 18% year-over-year. The company recorded a net income of $0.8 million, marking a turnaround from a net loss last year, with cash and cash equivalents totaling $35.7 million.
Avid Bioservices (NASDAQ:CDMO, CDMOP) has declared a quarterly cash dividend of $0.65625 per share on its 10.50% Series E Convertible Preferred Stock. This dividend is payable on January 4, 2021, to shareholders on record by December 14, 2020. The annualized yield is 10.50% based on a liquidation preference of $25.00 per share, accruing from October 1, 2020, through December 31, 2020. Avid is a leading biologics contract development and manufacturing organization dedicated to improving patient lives through high-quality services for biotechnology and pharmaceutical clients.
Avid Bioservices (NASDAQ:CDMO, CDMOP) will announce its financial results for Q2 FY2021 on December 2, 2020, after market close. The company specializes in biologics contract development and manufacturing, emphasizing high-quality services for biotechnology and pharmaceutical clients. A conference call is scheduled for 1:30 PM Pacific Time, where senior management will discuss the financial results and recent corporate developments. This announcement highlights Avid's commitment to transparency and investor communication.
Avid Bioservices, Inc. (NASDAQ: CDMO, CDMOP) announced its 2020 Annual Meeting of Stockholders will be held virtually on October 20, 2020, at 10:00 a.m. PDT due to the COVID-19 pandemic. Stockholders recorded by August 24, 2020, can participate, vote, and ask questions via an audio webcast. The previously distributed proxy materials will remain valid for voting. Stockholders can access the meeting's online portal starting at 9:45 a.m. PDT on the meeting day. Avid Bioservices specializes in biopharmaceutical development and manufacturing, providing comprehensive services for the biotechnology sector.
Avid Bioservices (NASDAQ: CDMO, CDMOP) announced its participation in the 18th Annual Morgan Stanley Global Healthcare Conference taking place from September 14-18, 2020. The company will engage in a fireside chat and one-on-one meetings on September 17 at 4:15 p.m. Eastern. This virtual conference allows stakeholders to connect remotely. A webcast of the fireside chat will be available for listening live or on-demand via Avid's investor relations page.
Avid Bioservices reported a strong first quarter of fiscal 2021, achieving $25.4 million in revenue, a 66% increase year-over-year. Net income was $4.7 million, versus a net loss of $4.6 million in the same period last year. The company signed three new customers and project expansions worth $20 million. The backlog stood at $60 million as of July 31, 2020. Avid confirmed its revenue guidance for the fiscal year at $76 million to $81 million, emphasizing optimism due to anticipated increased demand for biologics.
Avid Bioservices, Inc. (NASDAQ: CDMO, CDMOP) has declared a quarterly cash dividend of $0.65625 per share on its 10.50% Series E Convertible Preferred Stock. This dividend is payable on October 1, 2020 to shareholders on record as of the close of business on September 14, 2020. The dividend reflects an annualized rate of 10.50%, calculated from the share’s liquidation preference of $25.00, accruing from July 1, 2020 to September 30, 2020.