Thank you. And with no further questions in the queue, I'll turn it over to our CEO, Nick Green, for any closing remarks. Operator Avid Bioservices, Inc. (NASDAQ:CDMO) Q3 2024 Earnings Conference Call April 29, 2024 4:30 PM ET Tim Brons – Investors Relations Group Nick Green – President and Chief Executive Officer Dan Hart – Chief Financial Officer Matt Kwietniak – Chief Commercial Officer Jacob Johnson – Stephens Sean Dodge – RBC Capital Markets Matt Hewitt – Craig-Hallum Capital Group Max Smock – William ...

"Today, Avid is a larger, more capable, world-class organization, poised to benefit from the tailwinds in multiple CDMO markets. When we combine our state-of-the-art facilities and expanded technical capabilities with the value of our pipeline and the strength of our commercial team, we believe we are well-positioned to realize the strategic objectives behind our expansion investment. As we continue to fill capacity and attract customers to our new capabilities, we believe we are well on our way to achievin ...

-- 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 dev ...

Capped Call Transactions During March 2024, in connection with our repurchase and payoff of the remaining balance of the 2026 Notes, as further described above, we entered into transactions to unwind all of our Capped Calls (Note 3). As a result, we received $1.3 million in net proceeds from the unwinding of the Capped Calls. Revolving Credit Facility On March 12, 2024, we entered into Amendment No. 2 to the Credit Agreement (Note 3) which, among other things, (i) waives the events of default under the Cred ...

Avid Bioservices (NASDAQ:CDMO) stock is falling on Thursday after the contract development and manufacturing company announced the pricing of a private placement.The private placement includes 7.00% Convertible Senior Notes due 2029 with an aggregate principal amount of $160 million. The notes mature March 1, 2029 and accrue interest semiannually on March 1 and September 1 each year.Avid Bioservices notes that the conversion price for the notes is 101.1250 shares of CDMO stock for each $1,000 principal amou ...

TUSTIN, Calif., March 06, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO), announced today the pricing of $160 million aggregate principal amount of 7.00% Convertible Senior Notes due 2029 (the "2029 Notes"). In connection with the offering, the company entered into private placement purchase agreements with the several purchasers, each of whom is a "qualified institutional buyer" within the meaning of Rule 144A ...

TUSTIN, Calif., March 06, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO), announced today that it intends to offer, subject to market conditions and other factors, $160 million aggregate principal amount of Convertible Senior Notes due 2029 (the "2029 Notes") in a private placement (the "Offering") to persons reasonably believed to be qualified institutional buyers pursuant to Section 4(a)(2) of the Securities A ...

Monty Rakusen Investment Thesis As its ticker indicates, Avid Bioservices (NASDAQ:CDMO) is a biologic CDMO. The company produces drugs for pharmaceutical and biotech companies and also helps them in the development, quality control, and compliance of the drug. Avid has been performing really well since becoming a pure-play CDMO in 2018, growing revenue at a 22.7% CAGR and adjusted EBITDA at a 21.5% CAGR in 5 years (although normalized EBITDA is much higher than what they did in F23). However, over the l ...

   And your line of credit, the size on that? Dan Hart Paul Knight Matt Hewitt Got it. Thank you. And thenÂ… Nick Green It didnÂ't come through CIRM, Matt, either. It was independent of CIRM. Matt Kwietniak ThatÂ's right. ThatÂ's right. Sorry. Matt Hewitt Okay. I was going to say that was really quick when it came through the new partnership. All right. And then, Nick, last quarter, I think you said that you had actually won a competitive displacement. Those are my words. But you had won some business fr ...

FORM 10-Q Delaware (State or other jurisdiction of incorporation or organization) 95-3698422 (I.R.S. Employer Identification No.) Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.001 par value per share CDMO The NASDAQ Stock Market LLC Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ AVID BIOSERVICES, INC. PART I - FINANCIAL INFORMATION 3 Item 1. Condensed Consolidated Financial Stateme ...