Jacob Johnson: Got it. That’s helpful context. Thank you, Nick and Dan.
Operator: Thank you. Our next question comes from Paul Knight with KeyBanc. You may proceed.
Paul Knight: Nick, I didn’t quite catch the number of process development revenues and how much that number was up in the quarter.
Nick Green: So, process development revenues I think is about $7 million, Dan?
Dan Hart: $7.1 million for the quarter, and it was up 74%, year-over-year.
Paul Knight: Okay. And then, is this in cell and gene therapy development or monoclonal or both?
Nick Green: It’s in both, but primarily in monoclonal.
Paul Knight: Okay. And, the — I guess, a question for Matt, and that is what are customers responding to well? What’s giving Avid the edge on some of the larger competitors today?
Matt Kwietniak: Yes. I think the available capacity — I think that the track record of success, the quality background I think resonates very, very well. I think our approach to dealing with clients is unique and that we’re accommodating and flexible and a good partner to work with. So, clients respond well to that. So, lot of active engagement for sure.
Paul Knight: And Matt, what’s your customer? Is it large biopharma, medium, small? Is there a profile that they like, or you — they fit in your view?
Matt Kwietniak: It’s — at this point, it’s all the above, everything that you mentioned. We had brought on someone to manage key accounts for us six, nine months ago. And we’re already seeing an impact there, and always had already previously been engaged with the small and emerging biotechs and that continues. So, we’re encouraged by the add each quarter of new client base, as well as additional work from existing client base.
Paul Knight: Okay. And Nick, a question for you, and that is, could you talk to, in your opinion, is there still tight supply in monoclonal manufacturing? And secondly how is the supply chain for you and getting things brought on line and produced?
Nick Green: Yes. So, I think, when you — you’ve always got to look at the mammalian capacity in sort of the segments that you operate in. And when it comes to sort of commercial grade, high quality mammalian capacity, we still see plenty of shortage of capacity, I would say. We see lots of demand for what we’re doing. And I think that’s the only explanation you can have really for this seeing the demand that we are doing. So, in terms of the supply chain itself, again, it’s one of those things that just seems to continue to slowly get better. I wouldn’t say it’s perfect by any stretch of the imagination. So, we still do scramble for things here and there. We are able to anticipate some customer demands. So we do find that customers will come here where there maybe is a shortage in the market.
And fortunately, we have actually — have the various components available so we can move quickly on that one. So, it continues to get better, not where it needs to be, and still a little bit better, because it’s not always in the same place where you see the shortage, which makes it difficult to manage, but again, quarter-on-quarter better than previous.
Paul Knight: Okay. Thanks.
Operator: Thank you. And I’m not showing any further questions. I would now like to turn the call back over to Nick Green for any closing remarks.
Nick Green: Thank you, operator. Thank you to everyone participating on today’s call. In closing, I would like to emphasize our excitement as we draw closer to launching our new capacity and capabilities. This could not be possible without the hard work of our many talented employees who drive and take pride in Avid’s continued success. Thank you again for participating on today’s call and for your continued support of Avid Bioservices.
Operator: Thank you. This concludes today’s conference call. Thank you for participating. You may now disconnect.
