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Biotech / Medical : SRDX - SurModics - Biotech IPO

SRDX 31.15

+5.7%

Apr 28 3:59 PM EDT

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To: Lance Bredvold who wrote (59)	4/27/2022 2:06:11 PM
From: Lance Bredvold	Read Replies (1) of 83

Wow. Did I just hear Gary say they have 19 sales professionals at the end of 2nd quarter? Why aren't device sales higher? OK! The answer seems to be the lag time from initial contact to actual decision by larger organizations. Up to 6 months when the first change to commercialization strategy was made in November, 21. It's very early and Gary/Tim sound very comfortable with results. I'm afraid I'm not going to get a much better price than the $39 plus we saw this morning before the call. I was really confused by Tim's presentation, but as usual Gary was clear with a couple of really nice subjective stories of success. Going back to sales people: 8 at the end of 21, 14-16 around February and 19 now! Well, no wonder we are seeing losses at the moment despite great success. I'm enthused as usual. Flying under the radar now, but just about to see competitors take notice. I am confident again and intend to place another order wishing I'd had one in earlier today. Just got 2 batches at $39.50 and hoping the headline news of large losses brings the price down still further.

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