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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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From: Lance Bredvold2/27/2023 6:07:42 PM
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I've never understood why SRDX stock seems so bouyant. Good steady earnings and enough patents to keep the business going. But last year we were told of a whole new strategy which would require losses for the year of 2022. A sales force was recruited and built and FDA trials required money and time. All went as expected until the FDA asked for more data on SurVeil which will delay approval. Or perhaps mean approval will not be possible.

So why is the price down below $25 after remaining in upper 30's throughout the speculative year of 22? I regard that setback as just part of the approval process as I've seen it happen so many times with other biotechs--if SRDX can even be called a biotech. Seems to me it's more of a medical device company but upon dependency to FDA's processes developed the fears and uncertainties typical of early stage biotechs.

So looking at the setback as just a necessary step in a process, I don't see that all that much has changed and I bought again at $25. Will buy just over $20 if we get there also. I guess we are in a bit more danger now having spent so much money without productive uses for the results, and there will be wastage due to releasing some of the sales people, but otherwise, I think we are further along than we were when the price hung around $35 and I'm hopeful of approval finally.

Or are we being dumped on by bigger producers of stents and balloon catheters? They are probably not tickled to have another competitor though as I recall there are plenty of them already many of whom buy surface modification products from SRDX.
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