News Spotlight: Avid Bioservices (NASDAQ:CDMOP)

Avid Bioservices (NASDAQ:CDMOP) changed 3.24% to recent value of $29.08. The stock transacted 1000 shares during most recent day however it has an average volume of 2.99K shares. It spotted trading -1.42% off 52-week high price. On the other end, the stock has been noted 43.89% away from the low price over the last 52-weeks.

 On Sept. 04, 2019, Avid Bioservices (NASDAQ:CDMO) (NASDAQ:CDMOP) a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality services to biotechnology and pharmaceutical companies, declared that its Board of Directors has declared a quarterly cash dividend payment on the Company’s 10.50% Series E Convertible Preferred Stock (the Series E Preferred Stock).

The quarterly dividend on the Series E Preferred Stock is payable on October 1, 2019 to holders of record at the close of business on September 16, 2019.

The quarterly dividend payment on the Series E Preferred Stock will be $0.65625 per share, which is equivalent to an annualized 10.50% per share, based on the $25.00 per share stated liquidation preference, accruing from July 1, 2019 through September 30, 2019. The Series E Preferred Stock is listed on the NASDAQ Capital Market and trades under the ticker symbol CDMOP.

About Avid Bioservices

Avid Bioservices is a dedicated contract development and manufacturing organization (CDMO) focused on development and CGMP manufacturing 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. With 25 years of experience producing monoclonal antibodies and recombinant proteins in batch, fed-batch and perfusion modes, Avid’s services include CGMP clinical and commercial product manufacturing, purification, bulk packaging, stability testing and regulatory strategy, submission and support. The company also provides a variety of process development activities, including cell line development and optimization, cell culture and feed optimization, analytical methods development and product characterization.

 The company has 56M of outstanding shares and 42.39M shares were floated in the market.  The price moved ahead of 5.81% from the mean of 20 days, 7.00% from mean of 50 days SMA and performed 11.51% from mean of 200 days price. Company’s performance for the week was 7.43%, 5.94% for month and YTD performance remained 16.32%.

Leave a Reply

Your email address will not be published. Required fields are marked *