CDMO - RBC sees Avid Biosciences benefiting from Humanigen COVID candidate data

Avid Biosciences (CDMO) will benefit from positive top-line phase 3 results released this morning for Humanigen's (HGEN) COVID-19 therapy candidate lenlizumab through a contract, according to RBC analyst Sean Dodge.Avid's Current Good Manufacturing Process (cGMP) contract with Humanigen, signed last month, will help with lenlizumab production both for regulatory and potentially commercial needs, he notes.Avid currently has just one commercial client.Avid shares are down 3.1% to $16.46 in afternoon trading.

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RBC sees Avid Biosciences benefiting from Humanigen COVID candidate data