Tustin-based contract drugmaker Avid Bioservices Inc. named Timothy Compton chief commercial officer this month.
Compton takes over at a time when sales are expected to grow 25% this year to $67 million, according to the average estimate of five analysts who follow the company (Nasdaq: CDMO). They expect sales to climb another 29% to $86.1 million in 2021.
Compton, who was previously senior director of sales at Cambrex Corp., a contract manufacturer of small molecules, will oversee the continued expansion of Avid’s commercialization and clientele base. Compton replaces Tracy Kinjerski, who left to pursue other business opportunities.
Avid, founded in 1987, has made several corporate changes over the past 30 months. In 2018, the company changed its name from Peregrine Pharmaceuticals and dumped its investigative pipeline of cancer drugs to focus on contract manufacturing of biopharmaceutical products for others.
Last year, Avid unexpectedly replaced then-CEO Roger Lias with Richard Hancock, who took the role of interim chief executive, where he presently remains. It also beefed up its board of directors by naming Catherine Mackey, a former Pfizer Inc. vice president of global research.
Compton holds a bachelor’s degree in microbiology from Washington State University and is an active duty veteran of the U.S. Army.
