These transactions come in the context of expected merger activity involving Avid Bioservices (NASDAQ: ), as noted in the filing. InvestingPro analysis suggests that the stock is slightly overvalued at current levels. Subscribers can access 8 additional professional tips and a comprehensive professional research report for deeper insight into CDMO valuations and prospects. InvestingPro analysis suggests that the stock is slightly overvalued at current levels. Subscribers can access 8 additional professional tips and a comprehensive professional research report for deeper insight into CDMO valuations and prospects.
These transactions come in the context of expected merger activity involving Avid Bioservices, as noted in the filing. InvestingPro analysis suggests that the stock is slightly overvalued at current levels. Subscribers can access 8 additional professional tips and a comprehensive professional research report for deeper insight into CDMO valuations and prospects.
These transactions come in the context of expected merger activity involving Avid Bioservices, as noted in the filing.
In other recent news, Avid Bioservices is the subject of significant development. The company reported results for the second quarter of fiscal 2025, with revenue matching Stephens’ projections but slightly below consensus. Avid Bioservices also reported a backlog of roughly $220 million at the end of the quarter, below estimates of $235 million. In addition, the company will be acquired by GHO Capital Partners (WA:) and Ampersand Capital Partners for $12.50 per share, prompting RBC Capital to downgrade the company from Outperform to Sector Perform.
In addition, Avid Bioservices made significant changes to its executive compensation framework, including an expansion of its 2018 Omnibus Incentive Plan and an amendment to its 2010 employee stock purchase plan, gaining shareholder support. The company also reported a 6% increase in revenue to $40.2 million in the first quarter of fiscal 2025, despite a net loss of $5.5 million.
Finally, KeyBanco analysts maintained a positive outlook on Avid Bioservices, reiterating an Overweight rating. These recent developments demonstrate Avid Bioservices’ commitment to growth and shareholder alignment.
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