 TUSTIN, Ca., Dec. 09, 2020 GLOBE NEWSWIRE -- Avid Bioservices, Inc. NASDAQ:CDMO NASDAQ:CDMOP, a dedicated biologics contract development and manufacturing organization CDMO working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced that it has commenced an underwritten public offering of its common stock. Avid Bioservices, Inc. also intends to grant the underwriters a 30-day option to purchase from it up to an additional 15 of the shares of common stock offered in the public offering. Avid Bioservices, Inc. intends to use the net proceeds from the offering primarily for the expansion of its manufacturing capabilities and any remainder for general corporate purposes. 