Avid Bioservices, Inc. (NASDAQ:CDMO) is expected to report first quarter earnings results, after market close, on Tuesday 1st September 2020.
Analysts polled by Thomson Reuters anticipate first quarter loss of $ 0.07 per share from revenue of $ 16.50 million.
Looking ahead, the full year loss are expected at $ 0.11 per share on the revenues of $ 78.96 million.
The Company Outlook
Full Year 2021 topline are forecasted in a range of$ 76.00 million ~ $ 81.00 million
Click Here For More Historical Outlooks Of Avid Bioservices, Inc.
Previous Quarter Performance
Avid Bioservices, Inc. posted loss for the fourth quarter of $ 0.11 per share, from the revenue of $ 12.55 million. According to street consensus, CDMO was expected to report 4Q20 loss of $ 0.16 per share from revenue of $ 8.50 million. The bottom line results beat street analysts by $ 0.05 or 31.25 percent, at the same time, top line results outshined analysts by $ 4.05 million or 47.65 percent.
Stock Performance
Shares of Avid Bioservices, Inc. traded low $ -0.05 or -0.59 percent on Monday, reaching $ 8.44 with volume of 410.10 thousand shares. The stock opened down for the day at $ 8.44, after closing the previous day trading at $ 8.49.
According to the previous trading day, closing price of $ 8.49, representing a 181.13 % increase from the 52 week low of $ 3.02 and a 3.74 % decrease over the 52 week high of $ 8.82.
The company has a market capital of $ 477.73 million and is part of the Healthcare sector and Biotechnology industry.
Conference Call
Avid Bioservices, Inc. will be hosting a conference call at 4:30 PM eastern time on 1st September 2020, to discuss its 1Q21 financial results with the investment community. The participants may dial, (877) 312-5443 or (253) 237-1126 Outside U.S. in order to access the live audio call. A live webcast with presentations will be available on the Internet by visiting the Company website edge.media-server.com/mmc/p/64ateurd
Avid Bioservices, Inc., a biologics contract development and manufacturing company, focuses on the development and current Good Manufacturing Practices (cGMP) manufacture of biopharmaceutical products derived from mammalian cell culture. It provides a range of process development, cGMP clinical, and commercial manufacturing services for the biotechnology and biopharmaceutical industries. The company produces monoclonal antibodies and recombinant proteins in batch, fed-batch, and perfusion modes; and offers services, including cGMP clinical and commercial product manufacturing, purification, bulk packaging, stability testing and regulatory strategy, submission, and support.
