Welcome to our dedicated page for Avid Bioservices news (Ticker: CDMO), a resource for investors and traders seeking the latest updates and insights on Avid Bioservices stock.
Company Overview
Avid Bioservices (symbol: CDMO) operates as a dedicated Contract Development and Manufacturing Organization (CDMO) specializing in the production of complex biologics. With an extensive legacy in manufacturing monoclonal antibodies, recombinant proteins, and enzymes using mammalian cell culture, the company offers comprehensive, end‐to‐end solutions that cater to the intricate needs of biotechnology and pharmaceutical companies. Emphasizing cGMP manufacturing, bioprocess optimization, and rigorous regulatory compliance, Avid Bioservices has established itself as a trusted partner through decades of focused expertise in the biologics sector.
Core Capabilities and Services
The company spans the entirety of the biologics development continuum, providing customized services that address both early-stage process development and full-scale commercial manufacturing. Key areas of service include:
- Process Development: Offering cell line development, upstream and downstream process optimization, and analytical methods development to ensure robust and scalable production.
- Clinical and Commercial Manufacturing: Delivering tailored cGMP manufacturing solutions that cover drug substance production, bulk packaging, and quality control testing, thereby supporting clinical trials as well as commercial supply chains.
- Regulatory and Quality Support: Assisting clients with regulatory submission support and stability testing, ensuring that all processes meet stringent global quality benchmarks.
Technical Expertise and Industry Position
Avid Bioservices combines decades of deep technical knowledge with state‐of‐the‐art facilities, which allows the company to navigate the full lifecycle of biologic products. Its robust integration of process development and manufacturing expertise is underscored by strategic investments in technology and capacity expansion. This positions Avid as a reliable partner in an industry where quality, scalability, and regulatory adherence are of paramount importance.
Operational Excellence
The company is recognized for its methodical approach to process optimization and risk management. By aligning operational practices with the evolving needs of the biopharmaceutical landscape, Avid Bioservices ensures efficiency and consistency in the production of high-quality biologics. Their operational model is underpinned by:
- Customizable Solutions: Tailoring services to the individual requirements of each client, from investigative research to commercial launch.
- Integrated Service Offerings: Combining process development, manufacturing, and quality control under one roof to streamline production and simplify regulatory compliance.
- Global Regulatory Compliance: Adhering to comprehensive quality systems and cGMP guidelines, which demonstrates the company’s commitment to maintaining high industry standards.
Market Significance and Competitive Landscape
Operating in a rapidly evolving biopharmaceutical market, Avid Bioservices has carved out a niche by consistently delivering end-to-end solutions that meet the complex demands of early stage research and later stage commercialization. Its service model is geared towards mitigating manufacturing risks while offering scalable production capabilities. The company’s focus on technical excellence and regulatory expertise differentiates it from other players in the CDMO sector, making it a key strategic partner for both emerging biotech innovators and established pharmaceutical companies.
Why Avid Bioservices?
Clients choose Avid Bioservices for its holistic approach to biologics manufacturing coupled with a long history of operational excellence. The integration of development and commercial manufacturing streamlines the transition from concept to market, ensuring that each biologic undergoes a rigorous quality process. This blend of expertise and comprehensive service offerings underlines the company’s ability to consistently deliver on its promise of high-quality, reliable production essential for the advancement of modern therapeutics.
Areas of Expertise
To summarize, Avid Bioservices excels in:
- Biologics Process Development and Optimization
- cGMP Clinical and Commercial Manufacturing
- Comprehensive Regulatory and Quality Support
- Tailored Service Offerings for Biotech and Pharma Clients
The company’s enduring commitment to quality and operational integrity, combined with advanced technological capabilities, makes Avid Bioservices a critical component in the development and manufacturing of modern biologic therapies. Its methodical and integrated approach provides companies with efficient access to innovative treatments, underscoring its pivotal role in the biopharmaceutical supply chain.
Avid Bioservices (NASDAQ: CDMO), a dedicated biologics contract development and manufacturing organization, has announced its participation in the upcoming Craig-Hallum Bioprocessing Conference. The virtual event is scheduled for September 19, 2024.
Key highlights:
- President and CEO Nick Green and VP of Process Development Pramthesh Patel, Ph.D., will be featured speakers
- The fireside chat is set for 2:45 p.m. Eastern on the conference day
- A webcast replay will be available on Avid's investor website after the event
This participation underscores Avid Bioservices' commitment to engaging with industry stakeholders and showcasing its expertise in biologics manufacturing and development services.
Avid Bioservices (NASDAQ: CDMO) reported financial results for Q1 FY2025 ended July 31, 2024. Key highlights include:
- Revenue of $40.2 million, up 6% year-over-year
- Net new business signings of $66 million
- Backlog increased to $219 million, up 16% from last year
- Gross profit of $5.7 million (14% margin)
- Net loss of $5.5 million or $0.09 per share
- Cash and equivalents of $33.4 million
The company maintained its FY2025 revenue guidance of $160-$168 million. Avid's CEO Nick Green highlighted strong momentum, improved margins, and diverse new business signings, including early-phase programs and late-stage projects advancing toward commercialization.
Avid Bioservices (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization, has announced it will report financial results for the first quarter of fiscal year 2025 on September 9, 2024, after market close. The company will also host a webcast at 1:30 PM Pacific Time (4:30 PM Eastern Time) on the same day. During the webcast, Avid's senior management will discuss the financial results and review recent corporate developments. Investors and interested parties can access the live or archived webcast through the company's investor relations website.
Avid Bioservices (NASDAQ: CDMO) reported fourth quarter revenue of $43 million, the highest in the company's history, and full-year fiscal 2024 revenue of $139.9 million, a 6% decrease from the previous year. Despite a strong quarter, the full year was impacted by fewer manufacturing runs and changes in estimated variable consideration. The company signed $30 million in new business, resulting in a backlog of $193 million. For fiscal 2025, Avid projects revenue between $160 million and $168 million. Gross profit for Q4 was $5.5 million (13% margin), down from $8.4 million (21% margin) in Q4 2023. Full-year gross profit was $7.3 million (5% margin), down from $31.5 million (21% margin) last year. The net loss for Q4 was $123.1 million or $1.94 per share, primarily due to a $118.5 million income tax expense. The net loss for the full year was $140.8 million or $2.23 per share, compared to net income of $0.3 million last year. Cash and cash equivalents stood at $38.1 million as of April 30, 2024. New facilities are fully operational, increasing the annual revenue-generating capacity to over $400 million.
Avid Bioservices (NASDAQ: CDMO) will announce its financial results for the quarter and fiscal year ended April 30, 2024, following market close on July 2, 2024. A webcast hosted by senior management will take place at 1:30 PM PT (4:30 PM ET) to discuss the financial outcomes and recent corporate developments. The webcast can be accessed live or via archive on the company’s investor relations website.
Avid Bioservices (NASDAQ: CDMO) announced on May 23, 2024, that it has earned a Committed Badge from EcoVadis, a leading provider of business sustainability ratings.
The company scored 56, placing it in the 62nd percentile globally. This recognition covers four core themes: Environment, Labor & Human Rights, Ethics, and Sustainable Procurement.
CEO Nick Green emphasized the company's commitment to ongoing sustainability improvements, recognizing that achieving high sustainability ratings is a continuous process.
EcoVadis evaluates over 125,000 companies worldwide based on international sustainability standards like the UN Global Compact and ISO 26000.
Avid Bioservices, Inc. (NASDAQ: CDMO) will participate in two investor conferences with Nick Green, the president and CEO, as a key speaker. The company aims to enhance patient lives through biologics development and manufacturing services for biotech and pharma firms.
FAQ
What is the current stock price of Avid Bioservices (CDMO)?
What is the market cap of Avid Bioservices (CDMO)?
What are the primary services offered by Avid Bioservices?
How does Avid Bioservices ensure quality in its manufacturing processes?
What sets Avid Bioservices apart from other CDMOs?
What types of biologic products does Avid Bioservices manufacture?
How does Avid Bioservices support early-stage development programs?
How does Avid Bioservices maintain regulatory compliance?
