Recap: Avid Bioservices Q3 Earnings

Avid Bioservices CDMO reported Q3 results.

Quarterly Results

• Earnings per share decreased 20% year over year to a loss of $0.06, which missed the estimate by $0.02.

• Revenue of $13,585,000 less by 1.42% year over year, which missed the estimate of $15,420,000.

Outlook

• Q4 revenue expected to be between $55,000,000 and $59,000,000.

How To Listen To The Conference Call

• Date: Mar 10, 2020

• Time: 06:04 AM ET

• Webcast URL: https://edge.media-server.com/mmc/p/vvmbx7ze

Technicals

• 52-week high: $8.38

• 52-week low: $3.37

• Price action over last quarter: Up 12.17%

Company Profile

Avid Bioservices is a clinical-stage biopharmaceutical company focused on development and current Good Manufacturing Practices (cGMP) of biopharmaceutical products derived from mammalian cell culture. The company provides a comprehensive range of process development, high quality cGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries.