Avid Bioservices Inc (OQ:CDMO)

Sector:  Healthcare Industry:  Pharmaceuticals
 
See Regulatory Filings on SEC
Company Contact
Address: 14191 MYFORD ROAD
TUSTIN CA 92780
Tel: 1-415-6757401
Website: https://avidbio.com
IR: See website
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Key People
Nicholas Stewart Green
President, Chief Executive Officer, Director
Daniel Ryan Hart
Chief Financial Officer
Richard A. Richieri
Chief Operations Officer
Mark R. Ziebell
Vice President, General Counsel, Corporate Secretary
Oksana Lukash
Vice President - People
Pramthesh Patel
Vice President - Process Development
Matthew Kwietniak
Chief Commercial Officer
   
Business Overview
Avid Bioservices, Inc. is a contract development and manufacturing organization (CDMO). The Company provides a range of services from process development to Current Good Manufacturing Practices (CGMP) clinical and commercial manufacturing of biologics for the biotechnology and biopharmaceutical industries. It operates in a single segment, which is contract manufacturing and development services. The Company's services include clinical and commercial product manufacturing, bulk packaging, release and stability testing and regulatory submissions support. The Company also provides a variety of process development services, including upstream and downstream development and optimization, analytical methods development, testing and characterization. It provides fully integrated and customized biomanufacturing services that support its customers from the early preclinical stage to commercial launch and supply.
Financial Overview
For the six months ended 31 October 2023, Avid Bioservices Inc revenues decreased 12% to $63.1M. Net loss totaled $11.6M vs. income of $408K. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Basic Earnings per Share excluding Extraordinary Items decreased from $0.01 to -$0.18.
Employees: 365 as of Apr 30, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $541.41M as of Oct 31, 2023
Annual revenue (TTM): $140.94M as of Oct 31, 2023
EBITDA (TTM): -$0.51M as of Oct 31, 2023
Net annual income (TTM): -$11.45M as of Oct 31, 2023
Free cash flow (TTM): -$55.94M as of Oct 31, 2023
Net Debt Last Fiscal Year: $118.97M as of Oct 31, 2023
Shares outstanding: 63,239,238 as of Nov 27, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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