Notable News to Watch: Avid Bioservices NASDAQ: CDMO) (NASDAQ: CDMOP)

Avid Bioservices NASDAQ: CDMO) (NASDAQ: CDMOP) stock observed trading -3.22% off 52-week high price. On the other end, the stock has been noted 33.51% away from low price over the last 52-weeks. The stock disclosed a move of 1.29% away from 50 day moving average and 4.07% away from 200 day moving average. Moving closer, we can see that shares have been trading 0.17% off 20-day moving average. It has market cap of $1511.03M and dividend yield of 9.71%.

On July 26, 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, announced the appointment of Catherine Mackey, Ph.D. as an independent member of the company’s board of directors.  Dr. Mackey is an experienced leader, director and advisor with more than 30 years of R&D and operations experience in the pharmaceutical, biotechnology and agricultural industries, including over a decade in key leadership roles at Pfizer Inc.

On behalf of the entire board, I am delighted to welcome Dr. Mackey with her extensive life science industry expertise to the Avid board of directors, said Joseph Carleone, Ph.D., Avid’s chairman of the board.

Dr. Mackey is a widely respected leader with broad experience in pharmaceutical research and development, a skill set essential to Avid as we expand our client portfolio, said Rick Hancock, interim president and chief executive officer of Avid.  Through strategic planning and diligent execution, Avid is now in the strongest position in its history and we look forward to the contributions that Dr. Mackey will make to further strengthen the company.

Dr. Mackey previously served as senior vice president of Pfizer global research and development and director of Pfizer’s La Jolla laboratories.  In these roles, she is credited with building Pfizer La Jolla into one of the company’s main pharmaceutical research and development sites with over 1,000 employees on a one-million square foot campus, an annual budget of approximately $300 million and a consistently robust drug pipeline.  She also served as a member of Pfizer’s global research leadership team, as well as the company’s senior leadership team.  Prior to these leadership roles at Pfizer, Dr. Mackey led strategic alliances at the company’s research and development headquarters and led U.S. research and development efforts in genomic and proteomic sciences, including biomarker and pharmacogenomics research.

She currently serves as chairman of the board of Cour Pharmaceutical Development Corporation.  In addition, she serves on the board of directors of GW Pharmaceuticals, Poseida, Rady Children’s Hospital and Rady Children’s Institute of Genomic Medicine. Her previous board appointments have included Evolve Biosystems, Sequenom, Viventia Bio, YM Biosciences and Althea Technologies.

The USA based company Avid Bioservices moved with change of -0.11% to $26.98 with the total traded volume of 3700 shares in recent session versus to an average volume of 2.7K. The stock was observed in the 5 days activity at -1.88%. The one month performance of stock was 1.18%. CDMOP’s shares are at 4.09% for the quarter and driving a 2.40% return over the course of the past year and is now at 7.93% since this point in 2018. The average volatility for the week and month was at 0.97% and 1.47% respectively. There are 56M shares outstanding and 43.79M shares are floated in market.

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