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Biotech / Medical : SRDX - SurModics - Biotech IPO
SRDX 27.57-2.0%Apr 17 4:00 PM EDT
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To: Lance Bredvold who wrote (60)4/28/2022 4:04:29 PM
From: Lance Bredvold1 Recommendation

Recommended By
petal

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And one more thing to keep in mind. I've always been impressed that neither Gary or Tim try to maximize earnings to goose the stock price. SRDX has a $30mm progress payment due upon premarketing approval of Surveil with Abbott. That drops to $27mm if it does not happen before 1/23, but I suspect it will. And there was no emphasis placed upon that eventuality because they simply don't count their chickens before they hatch.

And that's why I trust these guys and it's been that way since I first bought shares back in 2000 or so (except for the period when they got that hot shot from California to be CEO for a few years. Now they are back to the understated Minnesota culture which I appreciate so much. Let's see--about $26mm net (not yet expensed) I believe ought to be over $2 a share and might even bring them to breakeven for the year despite predictions of over $1 loss. I guess there are plenty of investors who also trust these guys, as the price has remained up far above what the predicted losses would normally justify--I had hoped they would be in the $30's when those predictions first came out, but the price just would not get down where I wanted it.
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