Initial Statement of Beneficial Ownership (3)

FORM 3	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0104 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^*

Hedberg Stephen Michael

2. Date of Event Requiring Statement (MM/DD/YYYY) 7/11/2018

3. Issuer Name and Ticker or Trading Symbol

Avid Bioservices, Inc. [CDMO]

(Last) (First) (Middle)

2642 MICHELLE DRIVE, SUITE 200

4. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director _____ 10% Owner
___ X ___ Officer (give title below) _____ Other (specify below)
Principal Fin. & Acct. Officer /

(Street)

TUSTIN, CA 92780

(City) (State) (Zip)

5. If Amendment, Date Original Filed (MM/DD/YYYY)

6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, $0.001 par value	9687	D

*Table II - Derivative Securities Beneficially Owned ( e.g.* , puts, calls, warrants, options, convertible securities)**
1. Title of Derivate Security (Instr. 4)	2. Date Exercisable and Expiration Date (MM/DD/YYYY)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivate Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security		6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock Option (right to buy)	⁽¹⁾	2/1/2020	Common Stock	4286	$20.51	D
Stock Option (right to buy)	⁽¹⁾	4/15/2020	Common Stock	714	$28.00	D
Stock Option (right to buy)	⁽¹⁾	5/2/2021	Common Stock	2143	$17.08	D
Stock Option (right to buy)	⁽¹⁾	2/17/2022	Common Stock	4107	$6.65	D
Stock Option (right to buy)	⁽¹⁾	5/4/2022	Common Stock	6196	$3.22	D
Stock Option (right to buy)	⁽¹⁾	12/27/2022	Common Stock	7500	$8.26	D
Stock Option (right to buy)	⁽¹⁾	5/6/2023	Common Stock	7295	$9.87	D
Stock Option (right to buy)	⁽¹⁾	5/6/2024	Common Stock	10095	$12.25	D
Stock Option (right to buy)	⁽¹⁾	5/11/2025	Common Stock	7642	$9.17	D
Stock Option (right to buy)	⁽¹⁾	6/2/2026	Common Stock	9971	$3.50	D
Restricted Stock Right	⁽²⁾	⁽²⁾	Common Stock	800	⁽³⁾	D

Explanation of Responses:
(1)	The option is fully vested under the terms of the original option agreement.
(2)	The restricted stock right vests in four (4) equal annual installments over a four (4) year period beginning June 15, 2019 and each year thereafter until fully-vested.
(3)	Each restricted stock right represents the contingent right to receive one share of common stock upon vesting.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Hedberg Stephen Michael 2642 MICHELLE DRIVE, SUITE 200 TUSTIN, CA 92780			Principal Fin. & Acct. Officer

Signatures
/s/ Stephen M. Hedberg		7/20/2018
^** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.