Avid Bioservices Stock Price, News & Analysis

Avid Bioservices, Inc. (NASDAQ: CDMO) is a biologics-focused contract development and manufacturing organization (CDMO) serving the biotechnology and biopharmaceutical industries. The company is dedicated to development and current Good Manufacturing Practice (CGMP) manufacturing of biologic drug substances, working with clients that range from early-stage programs through commercial supply. According to company disclosures, Avid has more than 30 years of experience producing biologics and concentrates on providing high quality development and manufacturing services to support clinical and commercial products.

Avid operates as a specialized partner for biologics, offering a comprehensive range of process development, CGMP clinical and commercial manufacturing services. Its stated capabilities 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 process development activities such as cell line development, upstream and downstream development and optimization, analytical methods development, testing, and characterization. The scope of services can range from standalone process development projects to full development and manufacturing programs that extend through commercialization.

In public communications, Avid describes itself as a dedicated biologics CDMO working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies. The company emphasizes its ability to support programs across the product lifecycle, from concept to commercial supply, and notes that it has invested in facilities, capacity and capabilities to handle complex biologics for both clinical and commercial stages.

Business focus and service offering

Avid’s core business centers on biologic drug substance manufacturing under CGMP conditions. The company highlights the following key service areas in its descriptions:

• Process development for early-stage programs, including cell line development, upstream and downstream process development and optimization.
• Analytical methods development, testing and characterization to support both development and manufacturing activities.
• CGMP clinical and commercial manufacturing of biologic drug substance.
• Bulk packaging of manufactured drug substance.
• Release and stability testing to support product quality and regulatory expectations.
• Regulatory submissions support for clients advancing products through clinical development and commercialization.

The company states that its services can be engaged as individual, standalone projects or as integrated programs that carry a biologic from early development through commercial manufacturing. This flexibility allows customers to use Avid for specific process development tasks, for clinical manufacturing only, or for long-term commercial supply relationships.

Industry context and role

Avid positions itself within the biologics manufacturing and CDMO sector, supporting biotechnology and biopharmaceutical companies that outsource development and manufacturing of biologic therapies. Company materials describe operations in high-growth markets related to complex biologics, and reference experience with clinical and commercial programs. Avid’s focus on CGMP biologics manufacturing and associated development services places it within the pharmaceutical preparation manufacturing segment of the broader manufacturing sector.

Public statements from the company note that it has invested in infrastructure, facilities, capacity and organizational capabilities to support a range of customer types, including smaller biotechnology companies and larger pharmaceutical companies. Avid also reports that it works on programs at various stages, from early clinical development to late-stage and commercial products, including process performance qualification (PPQ) campaigns and commercial products.

Corporate transaction and listing status

Avid Bioservices entered into 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. Under that agreement, Avid stockholders are entitled to receive cash consideration per share. Company announcements state that Avid stockholders approved the transaction at a special meeting and that the acquisition has been completed.

Following completion of the transaction, Avid disclosed that its common stock has ceased trading and will be delisted from Nasdaq. The company has also stated that, upon completion of the transaction, its common stock will no longer be listed on any public stock exchange and that it will continue to operate under the Avid name and brand as a privately held company owned by funds managed by GHO and Ampersand.

Convertible notes and merger-related changes

In connection with the closing of the merger with Space Finco, Inc. and Space Mergerco, Inc., Avid reported that a Fundamental Change and a Make-Whole Fundamental Change occurred under the indenture governing its 7.00% Convertible Senior Notes due 2029. The company issued a notice to holders of these notes describing the right of holders to require the company to repurchase their notes for cash at 100% of principal plus accrued and unpaid interest as of a specified repurchase date, subject to conditions and procedures set forth in the indenture.

The company also reported that, pursuant to a supplemental indenture, the right to convert each $1,000 principal amount of notes was changed to a right to convert into cash based on a defined conversion rate and a cash amount per share, reflecting the merger consideration. During a defined Make-Whole Fundamental Change conversion period, the conversion rate is increased, after which it reverts to a base conversion rate and the notes are no longer convertible solely on account of the Make-Whole Fundamental Change.

Historical background

Earlier descriptions referenced Avid Bioservices as a subsidiary of Peregrine Pharmaceuticals, Inc. and described the organization as a contract manufacturing partner focused on monoclonal antibodies, recombinant proteins and enzymes produced in mammalian cell culture. These historical references emphasize the company’s roots in biologics manufacturing and its evolution into a dedicated CDMO with extensive experience across stages of development.

Over time, Avid has presented itself as having more than three decades of experience producing biologics and as supporting a range of customer programs. Public communications highlight that its services span from concept to commercialization, reinforcing its positioning as a partner across the biologic product lifecycle.

Use of Avid Bioservices information on Stock Titan

For investors and researchers reviewing Avid Bioservices under the former ticker CDMO, it is important to recognize that the company has been acquired by private equity funds and that its common stock has been delisted from Nasdaq. Information associated with CDMO therefore primarily reflects the company’s history as a publicly traded biologics CDMO and the terms of its acquisition and related securities, such as its convertible senior notes.

Users analyzing this historical listing can review how Avid described its service offerings, its role in the biologics CDMO market, and the structure of the acquisition by GHO Capital Partners and Ampersand Capital Partners. This context can be useful for understanding the company’s past public-market profile, its biologics manufacturing capabilities, and the corporate actions that led to its transition from a public to a private company.