Biotech Values

[DewDiligence]

If you present non-GAAP numbers you always have to reconcile to GAAP.

The reconciliation can be tentative for the purpose of a preliminary financial presentation on a CC. Quarterly financials (which is all this was for SRDX insofar as its fiscal year ended in September) are not even audited at most companies.

I don’t see how SRDX’s asset sale was anything but a routine transaction that has a well understood accounting treatment, so the company’s bizarre handling of this has me wondering if there was some kind of foul play. SRDX is off 5% today, FWIW.