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Avid Bioservices - CDMO STOCK NEWS

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.

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Avid Bioservices (NASDAQ:CDMO) announced the completion of expansions at its mammalian cell manufacturing facilities in Tustin, California. The newly expanded CGMP suites are expected to generate an additional $100 million in annual revenue, while process development capacity has doubled, potentially adding another $25 million. The first customer project in the expanded capacity will commence this month. The enhancements reflect a growing demand for Avid's services, with the company noting a record backlog. Avid aims to maximize its total revenue-generating capacity to approximately $400 million with ongoing projects, including a new cell and gene therapy facility.

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Avid Bioservices (NASDAQ:CDMO) reported third quarter revenue of $38.0 million, a 21% increase year-over-year. The company signed $67 million in new business orders, resulting in a backlog of $176 million, up 26% from the previous year. The mammalian cell manufacturing facility is now operational, with expansions expected to add approximately $120 million in revenue capacity by the end of Q1 2023. Avid reaffirms its FY 2023 revenue guidance of $145-$150 million. However, gross margin decreased to 26% for the quarter, compared to 29% last year. The company recorded a net income of $0.5 million ($0.01 per share), down from $2.2 million ($0.04 per share) in Q3 2022.

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Avid Bioservices, Inc. (NASDAQ:CDMO) announced it will release its third-quarter fiscal year 2023 financial results on March 13, 2023, after market close. A webcast will be held at 1:30 PM PT (4:30 PM ET) where senior management will discuss the financial outcomes and recent corporate updates. As a dedicated biologics contract development and manufacturing organization, Avid provides comprehensive services to biotechnology and pharmaceutical companies, leveraging over 30 years of experience in manufacturing monoclonal antibodies and recombinant proteins.

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Avid Bioservices reported a second quarter revenue of $34.8 million, a 33% increase year-over-year. The company signed $26 million in new business orders, boosting the backlog to $147 million, a 23% rise year-over-year. Revenue guidance for fiscal 2023 has been adjusted to between $145 million and $150 million. However, gross margin fell to 12% from 35% a year earlier, attributed to increased operational costs. Avid continues expansions in cell and gene therapy facilities, with expectations to complete significant phases by mid-2023.

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Avid Bioservices, Inc. (NASDAQ:CDMO) will announce its second quarter fiscal year 2023 financial results on December 6, 2022, after market close. A conference call is scheduled for 1:30 PM Pacific Time (4:30 PM Eastern Time) the same day, where senior management will discuss these results and highlight recent corporate developments. Avid specializes in contract development and manufacturing services for the biotechnology and biopharmaceutical sectors, with nearly 30 years of experience in producing biologics.

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Avid Bioservices, Inc. (NASDAQ:CDMO) has appointed Oksana Lukash as vice president of people, bringing over 20 years of HR expertise in the life sciences sector. Previously at Oncocyte Corporation, she led major acquisitions and expanded the workforce significantly with low turnover rates. CEO Nick Green expressed confidence in her ability to enhance Avid’s workplace culture and optimize team performance. Avid specializes in contract development and manufacturing for biologics, offering a full range of services including process development and CGMP manufacturing.

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Avid Bioservices (NASDAQ:CDMO), a biologics contract development and manufacturing organization, will participate in the Credit Suisse 31st Annual Healthcare Conference from November 7-10, 2022. Nick Green, the president and CEO, is scheduled to deliver a presentation on November 9, 2022, from 12:50 to 1:20 p.m. Pacific Time at the Terranea Resort in Rancho Palos Verdes, CA. The company focuses on providing high-quality development and manufacturing services to the biotech and pharmaceutical sectors, boasting nearly 30 years of experience in producing monoclonal antibodies and recombinant proteins.

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Avid Bioservices (NASDAQ:CDMO), a biologics contract development and manufacturing organization, will participate in the RBC Global CDMO Conference on October 3-4, 2022. CEO Nick Green will be featured in a fireside chat scheduled for October 3 from 12:15 to 12:45 p.m. Eastern Time. The conference will be hosted virtually, and a webcast of the conversation will be available online. Avid specializes in CGMP manufacturing of biologics and offers a range of services, including process development and regulatory submissions support.

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FAQ

What is the current stock price of Avid Bioservices (CDMO)?

The current stock price of Avid Bioservices (CDMO) is $12.49 as of February 7, 2025.

What is the market cap of Avid Bioservices (CDMO)?

The market cap of Avid Bioservices (CDMO) is approximately 798.9M.

What are the primary services offered by Avid Bioservices?

Avid Bioservices provides a comprehensive range of services including process development, cGMP clinical and commercial manufacturing, and regulatory support for biologics. Their offerings span from early-stage cell line development to full-scale commercialization production.

How does Avid Bioservices ensure quality in its manufacturing processes?

The company adheres to stringent cGMP guidelines and employs advanced quality control systems to maintain high standards throughout the manufacturing process. Their integrated approach includes rigorous analytical testing, stability assessments, and detailed regulatory support.

What sets Avid Bioservices apart from other CDMOs?

Avid Bioservices distinguishes itself through its extensive experience in both development and manufacturing of biologics. Their capability to offer end-to-end solutions—from cell line development to commercial manufacturing—and commitment to regulatory compliance make them a preferred partner in the biopharmaceutical industry.

What types of biologic products does Avid Bioservices manufacture?

The company specializes in the production of complex biologics such as monoclonal antibodies, recombinant proteins, and enzymes. These products are developed using advanced mammalian cell culture techniques to ensure high quality and clinical efficacy.

How does Avid Bioservices support early-stage development programs?

For early-stage programs, Avid offers a variety of process development activities that include cell line development, upstream and downstream process optimization, and analytical method development. This support is designed to mitigate risks and ensure a smooth transition from research to clinical manufacturing.

How does Avid Bioservices maintain regulatory compliance?

The company maintains a strong track record of regulatory compliance by integrating quality systems throughout all stages of product development and manufacturing. Their dedicated regulatory support services help clients navigate the complexities of global health agency requirements.
Avid Bioservices

Nasdaq:CDMO

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CDMO Stock Data

798.90M
62.86M
1.13%
104.32%
18.2%
Biotechnology
Pharmaceutical Preparations
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United States
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