Avid Bioservices, Inc., a contract development and manufacturing organization, provides process development and current good manufacturing practices (CGMP) clinical and commercial manufacturing services focused on biopharmaceutical drug substances derived from mammalian cell culture. It produces monoclonal antibodies and recombinant proteins; and offers services, including CGMP clinical and commercial drug substance manufacturing, bulk packaging, release and stability testing, and regulatory submission and support. The company also provides various process development services, such as upstream and downstream development and optimization, analytical methods development, testing, and characterization. It serves biotechnology and pharmaceutical companies. The company was formerly known as Peregrine Pharmaceuticals, Inc. and changed its name to Avid Bioservices, Inc. in January 2018. Avid Bioservices, Inc. was incorporated in 1981 and is headquartered in Tustin, California.
IPO Year:
Exchange: NASDAQ
Website: avidbio.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/28/2023 | Mkt Perform | William Blair | |
| 3/14/2023 | $20.00 | Sector Weight → Overweight | KeyBanc Capital Markets |
| 3/9/2022 | $31.00 → $28.00 | Overweight | Stephens & Co. |
| 12/8/2021 | $29.00 → $35.00 | Buy | Craig-Hallum |
| 12/8/2021 | $27.00 → $32.00 | Outperform | RBC Capital |
| 12/8/2021 | Overweight → Sector Weight | Keybanc | |
| 6/30/2021 | $21.00 → $29.00 | Buy | Craig-Hallum |
| 6/30/2021 | $21.00 → $27.00 | Outperform | RBC Capital |
| 6/30/2021 | $22.00 → $28.00 | Overweight | Keybanc |
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DEFA14A - Avid Bioservices, Inc. (0000704562) (Filer)
DEFA14A - Avid Bioservices, Inc. (0000704562) (Filer)
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DEFM14A - Avid Bioservices, Inc. (0000704562) (Filer)
10-Q - Avid Bioservices, Inc. (0000704562) (Filer)
8-K - Avid Bioservices, Inc. (0000704562) (Filer)
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DEFA14A - Avid Bioservices, Inc. (0000704562) (Filer)
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4 - Avid Bioservices, Inc. (0000704562) (Issuer)
4 - Avid Bioservices, Inc. (0000704562) (Issuer)
4 - Avid Bioservices, Inc. (0000704562) (Issuer)
4 - Avid Bioservices, Inc. (0000704562) (Issuer)
4 - Avid Bioservices, Inc. (0000704562) (Issuer)
4 - Avid Bioservices, Inc. (0000704562) (Issuer)
4 - Avid Bioservices, Inc. (0000704562) (Issuer)
4 - Avid Bioservices, Inc. (0000704562) (Issuer)
4 - Avid Bioservices, Inc. (0000704562) (Issuer)
4 - Avid Bioservices, Inc. (0000704562) (Issuer)
4 - Avid Bioservices, Inc. (0000704562) (Issuer)
TUSTIN, Calif., Dec. 10, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced financial results for the second quarter and six months ended October 31, 2024. Highlights from the Quarter Ended October 31, 2024: "We delivered solid results in a competitive environment, with increased revenues and backlog offset by increased costs," stated Nick Green, president and CEO of Avid Bioservices. "We are pleased to reach the separately announced agre
-- Recorded First Quarter Revenue of $40.2 Million -- -- Signed $66 Million in Net New Business, Resulting in Backlog of $219 Million -- -- Maintained FY2025 Revenue Guidance of Between $160 Million and $168 Million -- TUSTIN, Calif., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced financial results for the first quarter ended July 31, 2024. Highlights from the Quarter Ended July 31, 2024, and Other Events:
TUSTIN, Calif., Sept. 03, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality services to biotechnology and pharmaceutical companies, today announced that it will report financial results for the first quarter of fiscal year 2025 on September 9, 2024, after market close and will host a webcast at 1:30 PM Pacific Time (4:30 PM Eastern Time). Members of Avid's senior management will discuss financial results for the first quarter and review recent corporate developments. To listen to the live webcast, or access the archived webcast, please
-- Recorded Fourth Quarter Revenue of $43.0 Million – Highest in Company History -- -- Signed $30 Million in Net New Business Resulting in Backlog of $193 Million -- -- New Mammalian and Cell and Gene Therapy Facilities Fully Operational and in Service; Capital Expenditure Associated with Three-Year Expansion Program Completed -- -- FY 2025 Revenue Guidance of Between $160 Million and $168 Million -- TUSTIN, Calif., July 02, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and ph
TUSTIN, Calif., July 01, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality services to biotechnology and pharmaceutical companies, today announced that it will report financial results for the quarter and fiscal year ended April 30, 2024, on July 2, 2024, after market close and will host a webcast at 1:30 PM Pacific Time (4:30 PM Eastern Time). Members of Avid's senior management will discuss financial results for the quarter and fiscal year ended April 30, 2024, and review recent corporate developments. To listen to the live webcast, or
-- Recorded Third Quarter Revenue of $33.8 Million -- -- Signed $41 Million in Net New Business Resulting in Record High Backlog of $206 Million -- -- Celebrated Completion of Recent Expansion Program with Grand Opening of Cell and Gene Therapy Manufacturing Facility in January 2024 -- -- Completed Convertible Debt Offering Subsequent to Quarter End, Extending Debt Maturity to 2029 -- TUSTIN, Calif., April 24, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical c
-- Recorded Second Quarter Revenue of $25.4 Million -- -- Signed $35 Million in Net New Business Orders Resulting in a Backlog of $199 Million -- -- Entered into Partnership with California Institute of Regenerative Medicine (CIRM) to Advance Manufacturing of Adeno-Associated Adenovirus, as well as Other Cell and Gene Therapy Programs – -- Completed Construction of Cell and Gene Therapy Facility; Grand Opening Scheduled for January 2024 -- -- Adjusting Fiscal 2024 Revenue Guidance to $137 to $147 million -- TUSTIN, Calif., Dec. 07, 2023 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to
TUSTIN, Calif., Nov. 30, 2023 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality services to biotechnology and pharmaceutical companies, today announced that it will report financial results for the second quarter of fiscal year 2024 on December 7, 2023, after market close and will host a webcast at 1:30 PM Pacific Time (4:30 PM Eastern Time). Members of Avid's senior management will discuss financial results for the second quarter and review recent corporate developments. To listen to the live webcast, or access the archived webcast, please vi
-- Recorded First Quarter Revenue of $37.7 Million -- -- Signed $36 Million in Net New Business Orders Resulting in a Backlog of $189 Million -- -- Cell and Gene Therapy Facility Expansion Remains on Schedule for Opening by End of Calendar Q3 2023 -- TUSTIN, Calif., Sept. 07, 2023 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced financial results for the first quarter ended July 31, 2023. Highlights from the Quarter Ended July 31, 2023,
TUSTIN, Calif., Aug. 31, 2023 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality services to biotechnology and pharmaceutical companies, today announced that it will report financial results for the first quarter of fiscal year 2024 on September 7, 2023, after market close and will host a webcast at 1:30 PM Pacific Time (4:30 PM Eastern Time). Members of Avid's senior management will discuss financial results for the first quarter and review recent corporate developments. To listen to the live webcast, or access the archived webcast, please vis
William Blair initiated coverage of Avid Bioservices with a rating of Mkt Perform
KeyBanc Capital Markets upgraded Avid Bioservices from Sector Weight to Overweight and set a new price target of $20.00
Stephens & Co. reiterated coverage of Avid Bioservices with a rating of Overweight and set a new price target of $28.00 from $31.00 previously
Craig-Hallum reiterated coverage of Avid Bioservices with a rating of Buy and set a new price target of $35.00 from $29.00 previously
RBC Capital reiterated coverage of Avid Bioservices with a rating of Outperform and set a new price target of $32.00 from $27.00 previously
Keybanc downgraded Avid Bioservices from Overweight to Sector Weight
Craig-Hallum reiterated coverage of Avid Bioservices with a rating of Buy and set a new price target of $29.00 from $21.00 previously
RBC Capital reiterated coverage of Avid Bioservices with a rating of Outperform and set a new price target of $27.00 from $21.00 previously
Keybanc reiterated coverage of Avid Bioservices with a rating of Overweight and set a new price target of $28.00 from $22.00 previously
RBC Capital Mkts initiated coverage of Avid Bioservices with a rating of Outperform and set a new price target of $21.00
TUSTIN, Calif., Jan. 08, 2025 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) ("Avid" or the "Company"), a dedicated biologics contract development and manufacturing organization ("CDMO") working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today posted an investor presentation in connection with its pending transaction with GHO Capital Partners LLP ("GHO") and Ampersand Capital Partners ("Ampersand") on its investor relations website. Highlights of the presentation include: The transaction with GHO and Ampersand delivers significant, immediate and certain cash value to Avid stockholders:
TUSTIN, Calif., Dec. 30, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) ("Avid" or the "Company"), a dedicated biologics contract development and manufacturing organization ("CDMO") working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced the expiration of the waiting period under the Hart-Scott-Rodino ("HSR") Antitrust Improvements Act of 1976 with respect to the previously announced agreement for Avid to be acquired by GHO Capital Partners LLP ("GHO") and Ampersand Capital Partners ("Ampersand"). "With this milestone behind us, we are one step closer to completing this
TUSTIN, Calif., Dec. 18, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) ("Avid" or the "Company"), a dedicated biologics contract development and manufacturing organization ("CDMO") working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced that it has commenced mailing definitive proxy materials and a letter to stockholders in connection with its pending transaction with GHO Capital Partners LLP ("GHO") and Ampersand Capital Partners ("Ampersand"). The Special Meeting to vote on the transaction is scheduled for January 30, 2025, and Avid stockholders of record as of Decemb
TUSTIN, Calif., Dec. 10, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced financial results for the second quarter and six months ended October 31, 2024. Highlights from the Quarter Ended October 31, 2024: "We delivered solid results in a competitive environment, with increased revenues and backlog offset by increased costs," stated Nick Green, president and CEO of Avid Bioservices. "We are pleased to reach the separately announced agre
TUSTIN, Calif. and LONDON and BOSTON, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) ("Avid" or the "Company"), a dedicated biologics contract development and manufacturing organization ("CDMO") working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, GHO Capital Partners LLP ("GHO") and Ampersand Capital Partners ("Ampersand") today announced they have entered into a definitive merger agreement for Avid to be acquired by funds managed by GHO and Ampersand in an all-cash transaction valued at approximately $1.1 billion. Under the terms of the merger agreement, GHO and Ampersand
TUSTIN, Calif., Sept. 12, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced that the company will participate in the upcoming Craig-Hallum Bioprocessing Conference. Nick Green, president and chief executive officer, and Pramthesh Patel, Ph.D., vice president of process development, will be the featured speakers in a fireside chat at the conference, which will take place virtually on September 19, 2024. Details of the company's participati
-- Recorded First Quarter Revenue of $40.2 Million -- -- Signed $66 Million in Net New Business, Resulting in Backlog of $219 Million -- -- Maintained FY2025 Revenue Guidance of Between $160 Million and $168 Million -- TUSTIN, Calif., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced financial results for the first quarter ended July 31, 2024. Highlights from the Quarter Ended July 31, 2024, and Other Events:
TUSTIN, Calif., Sept. 03, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality services to biotechnology and pharmaceutical companies, today announced that it will report financial results for the first quarter of fiscal year 2025 on September 9, 2024, after market close and will host a webcast at 1:30 PM Pacific Time (4:30 PM Eastern Time). Members of Avid's senior management will discuss financial results for the first quarter and review recent corporate developments. To listen to the live webcast, or access the archived webcast, please
-- Recorded Fourth Quarter Revenue of $43.0 Million – Highest in Company History -- -- Signed $30 Million in Net New Business Resulting in Backlog of $193 Million -- -- New Mammalian and Cell and Gene Therapy Facilities Fully Operational and in Service; Capital Expenditure Associated with Three-Year Expansion Program Completed -- -- FY 2025 Revenue Guidance of Between $160 Million and $168 Million -- TUSTIN, Calif., July 02, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and ph
TUSTIN, Calif., July 01, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality services to biotechnology and pharmaceutical companies, today announced that it will report financial results for the quarter and fiscal year ended April 30, 2024, on July 2, 2024, after market close and will host a webcast at 1:30 PM Pacific Time (4:30 PM Eastern Time). Members of Avid's senior management will discuss financial results for the quarter and fiscal year ended April 30, 2024, and review recent corporate developments. To listen to the live webcast, or
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NEW YORK, Dec. 1, 2023 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI") will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices effective prior to the open of trading on Monday, December 18, to coincide with the quarterly rebalance. The changes ensure each index is more representative of its market capitalization range. All companies being added to the S&P 500 are more representative of the large-cap market space, all companies being added to the S&P MidCap 400 are more representative of the mid-cap market space, and all companies being added to the S&P SmallCap 600 are more representative of the small-cap market space. The companies being removed from t
DUBLIN, IRELAND, May 03, 2023 (GLOBE NEWSWIRE) -- STERIS plc (NYSE:STE) ("STERIS" or the "Company") announced today that Esther M. Alegria, Ph.D. has been elected to the Board of Directors, effective today. "We are pleased to welcome Dr. Alegria to our Board," said Mohsen Sohi, Chairman of STERIS. "She brings over three decades of experience in the biopharmaceuticals industry to our Board and will be a valuable addition." Dr. Alegria is the Founder and Chief Executive Officer of APIE Therapeutics, where she leads a team focused on the development of therapeutic drugs to treat chronic and debilitating diseases. Prior to APIE, Dr. Alegria was President and Senior Executive Advisor at Catal
TUSTIN, Calif., Nov. 16, 2022 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced the appointment of Oksana Lukash, as vice president, people. Ms. Lukash has more than 20 years of human resources experience with both established and entrepreneurial organizations across a range of industries. Prior to joining Avid, Ms. Lukash served as vice president, people & culture at Oncocyte Corporation, a precision diagnostics company. During her three year
TUSTIN, Calif., Sept. 22, 2022 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced the appointment of Michael Alston, Jr. as vice president, operations. Mr. Alston was promoted from Avid's director of project engineering, a role in which he led all of the company's ongoing facility expansions. In his new position, he will continue to oversee these projects including the Myford South expansion, as well as the construction of Avid's new dedicated c
TUSTIN, Calif., Sept. 01, 2022 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced the appointment of Pramthesh (Prem) Patel, Ph.D., as vice president, process development for its mammalian cell business. Dr. Patel is an accomplished biopharmaceutical industry executive with more than 30 years of experience and a track record of success in developing manufacturing processes for clinical trial material and commercial supplies. His career is highli
TUSTIN, Calif., Nov. 04, 2021 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced the appointment of Elie G. Hanania, Ph.D., as vice president, process development, viral vector technologies. Dr. Hanania is a seasoned life science industry executive with more than 30 years of experience in the field of cell and gene therapy. Avid recently announced the expansion of its CDMO service offering into the rapidly growing cell and gene therapy market an
Leverages Established Track Record of Excellence in Biologics CGMP Manufacturing to Address the Rapidly Growing Cell and Gene Therapy Market World-Class Viral Vector Development and Manufacturing Facility Being Built in Orange County, CA Appoints Drew Brennan, Experienced CDMO Business Development Executive, as General Manager of Viral Vector Technologies TUSTIN, Calif., Oct. 14, 2021 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced that t
TUSTIN, Calif., Oct. 07, 2021 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced the appointment of Matthew Kwietniak as chief commercial officer. Mr. Kwietniak is an accomplished senior global sales executive with a proven track record of driving revenue growth and delivering sustainable results through the building and management of successful sales teams, as well as the establishment and expansion of key client relationships. In his new role,
TUSTIN, Calif., July 01, 2021 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced the appointment of Esther M. Alegria, Ph.D., as an independent member of the company's board of directors. Dr. Alegria has nearly 30 years of biopharmaceutical industry experience spanning research and development, manufacturing, quality control, assurance and compliance, technology transfer and regulatory submissions supporting the development and commercialization
TUSTIN, Calif., Dec. 07, 2020 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced the appointment of Jeanne Thoma as an independent member of the company’s board of directors. Ms. Thoma is a seasoned pharmaceutical industry executive with more than 30 years of experience spanning product development and commercialization, as well as operations and supply chain management. “On behalf of the entire board, I am delighted to welcome M