Why Avid Bioservices Stock Is Soaring Today

Shares of Avid Bioservices (NASDAQ: CDMO) were soaring 8.1% higher as of 10:50 a.m. EST on Thursday. The big jump came after the biologics contract development and manufacturing organization (CDMO) announced its fiscal 2021 second-quarter results following the market close on Wednesday. CEO Nicholas Green attributed the strong performance to growth in customer demand.