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Recap: Avid Bioservices Q1 Earnings

Benzinga Insights

Shares of Avid Bioservices (NASDAQ:CDMO) rose 6.81% after the company reported Q1 results.

Quarterly Results

Earnings per share rose 175.00% over the past year to $0.06, which beat the estimate of ($0.07).

Revenue of $25,392,000 higher by 66.46% year over year, which beat the estimate of $16,500,000.

Outlook

The company is confirming revenue guidance for the full fiscal year 2021 of $76 million to $81 million.

How To Listen To The Conference Call

Date: Sep 01, 2020

Time: 04:30 PM

View more earnings on CDMO

ET Webcast URL: https://edge.media-server.com/mmc/p/64ateurd

Price Action

52-week high: $8.82

52-week low: $3.02

Price action over last quarter: Up 19.72%

Company Description

Avid Bioservices Inc 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.

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