Avid Bioservices, Inc.
avidbio.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2025 10-Q, filed Dec 10, 2024. Its latest SEC filing is a SCHEDULE 13G/A from May 15, 2025.
10-Q for Q2 FY2025, filed Dec 10, 2024
The sections below describe the company as of the FY2024 annual report.
What Did They Do?
Provides process development and clinical and commercial manufacturing services for biologics to biotechnology and biopharmaceutical companies.
10-K for FY2024, filed Jul 2, 2024We are a dedicated contract development and manufacturing organization (“CDMO”) that provides a comprehensive range of services from…View ↗
How Did They Make Money?
Customers pay Avid for manufacturing runs and custom development of manufacturing processes and analytical methods. Most customer contracts require upfront and installment payments during the service period; Avid earns revenue as the work progresses.
10-K for FY2024, filed Jul 2, 2024Manufacturing revenue generally represents revenue from the manufacturing of customer products recognized over time utilizing an input…View ↗
Process development revenue generally represents revenue from services associated with the custom development of a manufacturing process…View ↗
Our accounts receivable from amounts billed for services provided under customer contracts are derived from a limited number of customers.…View ↗
$139.9M
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10-K for FY2024, filed Jul 3, 2024
$139.9M ↗
Who Were Their Customers?
Biotechnology and biopharmaceutical companies contract with Avid for clinical and commercial biologics manufacturing and process-development services.
10-K for FY2024, filed Jul 2, 2024
Did Revenues Turn Into Profits?
No. It lost $140.8M in FY2024.
10-K for FY2024, filed Jul 3, 2024
−$18.7MView ↗
10-K for FY2024, filed Jul 3, 2024
−$140.8MView ↗
10-K for FY2024, filed Jul 3, 2024
−$20.9MView ↗
How Were They Changing?
- Net income
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Sources
10-Q for Q2 FY2025, filed Dec 11, 2024
−$17.4MView ↗
- ▲ +83% (Loss)
- vs −$9.5M in Q2 FY2024
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Feb 5, 2025
Avid's acquisition by GHO and Ampersand closed; its shares were delisted
Stockholders became entitled to $12.50 per share in cash, and Avid's common stock ceased trading and was delisted from Nasdaq.
Sources
8-K, filed Feb 5, 2025
On 7 November 2024, GHO and Ampersand entered into a definitive merger agreement for Avid to be acquired by funds managed by GHO and…View ↗
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Dec 10, 2024
Avid suspended financial guidance after announcing its proposed sale
It said it would not host an earnings call and would stop its practice of providing financial guidance.
Sources
8-K, filed Dec 10, 2024
On November 6, 2024, the company announced that Avid, GHO Capital Partners LLP ("GHO") and Ampersand Capital Partners (“Ampersand”) have…View ↗
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Nov 7, 2024
Avid agreed to be acquired by GHO Capital and Ampersand
The proposed all-cash transaction was valued at approximately $1.1 billion.
Sources
8-K, filed Nov 7, 2024
Tustin, CA, London, UK, and Boston, MA, November 6, 2024 — Avid Bioservices, Inc. (NASDAQ: CDMO) (“Avid” or the “Company”), a dedicated…View ↗
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Sep 9, 2024
Avid maintained its fiscal 2025 revenue guidance
The company kept its revenue outlook at $160 million to $168 million.
Sources
8-K, filed Sep 9, 2024
-- Maintained FY2025 Revenue Guidance of Between $160 Million and $168 Million --View ↗
Expanded into viral-vector work
The older report focused on biologics derived from mammalian cell culture; the latest report adds viral-vector development and manufacturing for cell and gene therapy.
10-K for FY2021, filed Jun 29, 2021 10-K for FY2024, filed Jul 2, 2024We are a dedicated contract development and manufacturing organization (“CDMO”) that provides a comprehensive range of services from…View ↗
Expand Service Offerings: We have invested in strategic opportunities to expand our service offerings. During fiscal 2022, we expanded our…View ↗
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