SurModics Inc (SRDX)

[foolishpremise]

cmini123:

I was very interested in your interpretation of the lubricity royalty rates for DES. SRDX has stated in prior conference calls that their lubricity royalty rate on other DES offerings is comparable to the current cypher (1%) royalty. Some a little more, some a little less. Your (1/10th of this) estimate is certainly not what they seemed to be implying in the CC. I'm not sure how to reconcile the discrepancy. [Are you suggesting, perhaps, the 1% figure SRDX talks about is only 1% of the value of the delivery system, rather than the delivery system and stent? - I'm not sure how or why they would break it down that way]

When Conor "talked of low single digits" could they have been talking about royalty rate, rather than $ per unit sold?