SRDX - SurModics - Biotech IPO Message Board

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Biotech / Medical : SRDX - SurModics - Biotech IPO

SRDX 27.71

+2.3%

12:28 PM EDT

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From: Lance Bredvold	11/8/2023 7:29:32 PM
	of 83

Earnings today and stock price jumped about 10% gradually during the day of the conference call. Again, I'm so proud of this company even though no one else seems to even have SRDX on as a subject mark. Management fell all over themselves to be sure no one expected such amazing results next year because this year there was a $27mm one time progress payment from Abbott. They've never counted their chickens before hatched and always made sure we understood that the total special income would be reduced by taxes. Just a whole different and more honest feel than most other managements I run across. But the real positive that they could not cover up was that the one time event above was in the third quarter and they reported fiscal 4th quarter today earning EPS of $.47 but since the royalty gain of 3rd quarter also means regular royalties for the same product would be disregarded (just over $1mm in Q4) would be disregarded and adjusted EPS then becomes $.53. To a newcomer goodwill and inxxxxx (senior moment) would seem way too high and I really don't remember when they acquired it, but I'm not real worried as they always made a profit and never had any debt until this last year as they moved into designing, building, and getting product of their own approved. They also have a new lubricious product which probably carries patents into the 30's or 40's in case the worst happened to the several stents and extractors they already have approved. I've been expecting this and bought a lot up to $30. And I have another 5 puts sold at 35 for which I got $5.70 a few months ago. Really hope the initial enthusiasm wears thin before expiration on Nov 15 and I get those shares as well.

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