TUSTIN, Calif. (AP) — TUSTIN, Calif. (AP) — Avid Bioservices Inc. (CDMO) on Tuesday reported a loss of $17.4 million in its fiscal second quarter.
The Tustin, California-based company said it had a loss of 27 cents per share. Losses, adjusted for stock option expense, were 22 cents per share.
The contract manufacturer posted revenue of $33.5 million in the period.
Avid Bioservices shares have climbed 89% since the beginning of the year. The stock has more than doubled in the last 12 months.
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