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Biotech / Medical : Biotech Valuation
CRSP 56.98+1.1%3:59 PM EST
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To: Lance Bredvold who wrote (52069)6/14/2023 4:36:03 PM
From: Lance Bredvold  Read Replies (1) of 52153
 
Now we see that both the Needham recommendation (which happened Tues) and an announcement that the Pounce Thrombectomy systems were approved by the FDA (which first announcement appears on Wed.) However, had I been more alert, I'd have known about the POUNCE announcement on Tuesday also since I had reread on SRDX's website a listing of POUNCE as approved before making my post on this website.

We still await news of the approval of SurVeil which will result in an immediate progress payment (probably $27mm) from Abbott when/if it occurs. That would amount to over $2 gross a share to SRDX and a bit less after taxes. SRDX price was down 2% today to $25.77. And that would offset most of the expected EPS losses for 2023 for the company. SRDX does not report any revenue from sources like FDA approval until they are certain.
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