Avid Bioservices, Inc. (NASDAQ:CDMO) Q3 2023 Earnings Call Transcript

Nick Green: Certainly, not going to comment on anybody else. That’s for them. But I mean, again, it’s €“ Paul, it’s really worrying about everything and focusing on everything. So it’s a solid quality basis. I think that’s the quality culture that was here, I think stemming back even to Peregrine days and before it was certainly back to the Peregrine days and before it’s a solid quality culture maybe comes out of part and parcel of being that one step closer in a CDMO to the patient. So on top of that, building solid assets, the asset at the end of the day is what you build the facility. And then you build the quality on top of that, then you build our quality system, then you build the quality culture. And I think that’s the way that we’ve built the business.

We have a strong ethos here that we’re only as good as the last batch we made. So it really strong focus on everything that you’re doing day in, day out. It goes back to a little bit of a €“ from England. So it’s my football or soccer analogy that you don’t win the Premier League over 38 games, you focus on every one. And after 38 games, you’ve either done it or you didn’t. So we just take that mentality every day. And then we’ve also done a lot to do it through standardization across the company. So we have a standardized platform on the upstream, a standardized platform on the downstream, we have high-quality assets. A very large portion of our assets today are the brand new or only 7 years old and minimizing the amount of variability means that you though on time, you deliver on spec and with the desired yield.

So it’s €“ I wish I could focus on one thing, because that made my job really easy, but it’s a little bit more complicated than that, I’m afraid.

Paul Knight: Great. Thanks.

Operator: Thank you. I would now like to turn the conference back to Nick Green for closing remarks. Sir?

Nick Green: Thank you operator and thank you for everyone participating on the call today. In closing, I would once again like to acknowledge the exceptional employees and their impressive achievements. It truly is the dedication and professionalism of our team that has driven Avid to success to date. And we look forward to the new opportunities ahead. Thank you again for participating today and for your continued support of Avid Bioservices.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.