| To: Lance Bredvold who wrote (40) | 10/1/2023 4:50:00 AM | | From: Lance Bredvold | | | | Since I'm using this board as a place for thoughtful personal reflection, I want to recall that I did give 100 shares of TECH to a charity for which they received $37,xxx. I did not do it as soon as I thought of it as a strategy waiting in hopes of a higher price, but at least I bit the bullet and bought back the $400 strike call I'd sold earlier at a small profit so that I was able to give away this gift.
Since then we've had a 4 for 1 stock split and the price has become more reasonable though not what I'd call reasonable. I was waiting for a price of $50 or less and finally gave up and bought a lot at $77. The price promptly went down to $65 where I did not have more funds available for a second buy in Sept. More in my budget for Oct and if the price will stay down perhaps I'll get some more.
Currently the market has been weak and we may finally be entering the bear market I've been predicting and planning for over 5 years. We've been hanging around 90% of the S&P high point for a year now after early decline to nearly 80%. But this last few weeks have brought us down under 90% or so with FED interest rate raises to curb inflation and also the threat of government shutdown. And a decline to 80% would make my budget for buying stock 3 times the base amount.
TECH PE is still up near 40 even though we are finally beginning to see growing earnings again. Sales have grown much faster via acquisitions which clearly are warranted with such a high PE to utilize for purchases. A sudden surprise; I notice TECH is incorporated in Minnesota, not Delaware. Generally MN has been pretty progressive on medical tech companies so maybe that's a good choice. I think I've mentioned before that I've chosen to emphasize upper midwest companies over Texas based ones due to higher faith in management's honest evaluation of prospects. Somehow Texas CEO/CFO's seem to be mostly hat and few cattle. |
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| From: Lance Bredvold | 5/1/2024 12:02:42 PM | | | | | | Earnings report today was not real thrilling to me though the stock price rose 20% this morning. So I really don't understand the potential of this company and probably should not even own it because of that. I bought because I emphasize Minnesota companies (and upper midwest) where I feel I understand the culture of people. But when the CEO/CFO come in from elsewhere, that heuristic should be irrelevant and the usual tendency I think, is for them to take advantage of the relatively laid back pronouncements by local leaders and suddenly overpromise for a sudden jump in stock price. They do have a new CEO and I'm not sure where he came from--many others seem to have come from Fisher Scientific on the east coast including the past CEO I believe.
Why the PE is over 50 today puzzles me. Past earnings growth has not been impressive--I record growth of 6% plus about 1% dividend. They acquire other small companies regularly and maybe the regular promise of improved earnings or synergy is enough to jack up the price but the results have not been impressive. Still, I sold near the high and have repurchased shares after the 4 for 1 stock split of 2023 just speculating a return to PE even higher. A little nutty I think. |
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| From: Lance Bredvold | 9/5/2024 3:00:31 PM | | | | | | ScaleReady announces the inaugural G-Rex® Grant has been awarded to Stanford Medicine Laboratory for Cell and Gene Medicine
PR Newswire
Tue, Aug 27,
ST. PAUL, Minn., Aug. 27, 2024 /PRNewswire/ -- ScaleReady™, in collaboration with Wilson Wolf Manufacturing, Bio-Techne Corporation (NASDAQ: TECH) and CellReady™, today announced that Dr. Steve Feldman, Scientific Director and Site Head of Stanford Medicine's Laboratory for Cell and Gene Medicine (LCGM), has been awarded the inaugural G-Rex® Grant. Dr. Feldman's $300,000 G-Rex Grant will enable expeditious development of Stanford Medicine's LCGM's G-Rex platform for CAR-T cell therapy manufacturing, which will be offered to internal investigators and external developers who are seeking its development and manufacturing services.
"Stanford's LCGM anticipates a need to support a greater number of clinical trials and the G-Rex Grant will be used to help meet that need," said Dr. Feldman.
"We are honored to award the inaugural G-Rex Grant to Dr. Feldman and his team at Stanford Medicine LCGM. Stanford University is a world-class institution with faculty who have a reputation for innovative and ground-breaking achievements. Their work aligns with Wilson Wolf's mission of bringing hope to cancer patients, one G-Rex at a time" said John Wilson, CEO of Wilson Wolf and co-inventor of G-Rex.
As part of the G-Rex Grant, Stanford Medicine LCGM will deploy their G-Rex-centric manufacturing process in an upcoming Phase 1 trial for GPC2+ pediatric neuroblastoma and medulloblastoma. Previously, the FDA had recommended sponsors develop and implement potency assays earlier in the clinical trial process. With that objective, Stanford Medicine LCGM plans to implement Bio-Techne's leading automated multiplexing immunoassay platform, Ella™, as a potency assay for final drug product release.
Furthermore, Stanford Medicine LCGM will collaborate with CellReady, the world's first and only G-Rex based contract development and manufacturing organization (CDMO), to leverage their proven capacity to quickly create G-Rex master batch records that establish manufacturing simplicity, efficiency, and repeatability.
Additionally, Stanford Medicine LCGM plans to further develop a novel technology (developed by Wilson Wolf) that enables closed-system T cell purification to be done directly in a G-Rex device, without the need for expensive ancillary equipment.
ScaleReady's G-Rex Grant Program is a $20M initiative to advance the state of cell and gene-modified cell therapy (CGT) development and manufacturing by awarding individual Grant Awards worth up to $300,000. G-Rex Grant Recipients also gain access to exclusive support from ScaleReady's growing consortium of G-Rex Grant Partners who bring best-in-class tools and technologies as well as unparalleled knowledge and expertise in the areas of cGMP manufacturing, quality and regulatory affairs, CGT business operations, and more. |
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