Avid Bioservices, Inc.
Thesis
Avid Bioservices is a contract drug manufacturing organization that is expanding its manufacturing footprint. They are guiding to $150 million in revenue for fiscal '23 and could reach $400 million in revenue capacity within two to three years due to increased demand for biologic drugs. The company has a competitive advantage with a long track record and no regulatory issues with the FDA, making it a reliable choice for biotech firms needing manufacturing services.
Did it work?
Without specific price performance data or a defined time frame since the pitch, it's difficult to assess whether the thesis has played out. The revenue guidance and expansion plans are promising, but without knowing if these targets have been met or if the stock price has reacted positively, the outcome remains uncertain.
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