Surmodics Inc Stock Price, News & Analysis

Surmodics announced positive results from the 24-month follow-up of its TRANSCEND clinical trial at the VIVA conference in Las Vegas. The study involved 446 patients and compared the SurVeil DCB with the leading IN.PACT Admiral DCB. Results show that SurVeil achieved a primary patency rate of 70.8% versus 70.4% for IN.PACT, with comparable safety profiles. SurVeil uses a significantly lower dose of paclitaxel, which may enhance patient outcomes. Surmodics holds a partnership with Abbott (ABT) for commercialization upon FDA approval.

Surmodics, Inc. (NASDAQ: SRDX) will release its fourth quarter and fiscal year 2022 financial results on November 9, 2022, before market opens. A live webcast and conference call will take place at 7:00 a.m. CT on the same day, discussing the financial outcomes and company achievements. Investors can access the call via their website or by dialing in. An audio replay will be available until November 23, 2022. Surmodics specializes in surface modification technologies for medical devices and diagnostic tests, focusing on clinical needs.

Surmodics, Inc. (NASDAQ:SRDX) announced that findings from the TRANSCEND clinical trial will be shared at the Vascular InterVentional Advances (VIVA) conference on November 1, 2022. Dr. Kenneth Rosenfield will present 24-month data on the efficacy and safety of the SurVeil drug-coated balloon (DCB) compared to IN.PACT Admiral DCB. Initial results at 12 months indicated non-inferiority for SurVeil with a lower drug dose. Surmodics has an agreement with Abbott (NYSE: ABT) for commercialization rights.

Surmodics, Inc. (Nasdaq: SRDX) announced a new five-year credit agreement with MidCap Financial, offering up to $100 million in term loans and $25 million in revolving credit. CEO Gary Maharaj emphasized improved capital access on favorable, non-dilutive terms. The company initially drew $25 million from the term loan and $5 million from the revolving credit, boosting its cash balance by $19.5 million. Interest-only payments for the term loan are set for the first four years. Total interest expenses are expected to be approximately $3.4 million in fiscal 2023.

Surmodics, Inc. (NASDAQ:SRDX) announced promising 6-month results from the SWING study of its Sundance™ Sirolimus drug-coated balloon (DCB) at the Amputation Prevention Symposium in Lugano, Switzerland. The study reported an 88.5% primary patency rate and a Late Lumen Loss (LLL) of 1.0 mm across 35 lesions, indicating sustained efficacy. No major amputations or perioperative deaths were observed, and only one major re-intervention was needed among participants. The Sundance DCB employs innovative coating technology to enhance sirolimus delivery, aiming to reduce restenosis.

Surmodics, Inc. (NASDAQ:SRDX) announced the presentation of 6-month data from the SWING Trial, evaluating the safety and performance of the Sundance™ Sirolimus Drug-Coated Balloon. This first-in-human study will be presented by Professor Ramon Varcoe on October 11 at the Amputation Prevention Symposium in Switzerland. The Sundance Balloon aims to offer a new treatment for patients with Critical lower limb ischemia, potentially improving quality of life and reducing surgical intervention needs. The device is currently for investigational use only and not for sale.

Surmodics, Inc. (NASDAQ: SRDX) announced a presentation at the Gilmartin Emerging Growth Company Showcase on August 31, 2022 at 12:30 p.m. ET. The presentation will feature CEO Gary Maharaj and CFO Tim Arens. Interested investors can access a live audio webcast via this link or through the investor relations section of the company’s website. The archived presentation will be available for 90 days post-event. Surmodics specializes in medical devices and in vitro diagnostic technologies.

Surmodics, Inc. (Nasdaq: SRDX) reported fiscal 2022 third-quarter revenues of $24.9 million, marking a 4% year-over-year increase. The company experienced a GAAP loss per share of $(0.41) and a non-GAAP loss per share of $(0.34). Medical Device revenue rose to $17.5 million, a 5% increase, while In Vitro Diagnostics revenue reached $7.3 million, up 3%. Surmodics revised its revenue guidance for fiscal 2022 to $97 million to $99 million, reflecting soft customer demand, while EPS guidance improved to $(1.50) to $(1.35) due to strong year-to-date results.

Surmodics, Inc. (NASDAQ: SRDX) will host a live webcast for its Q3 fiscal 2022 conference call on July 27 at 7:30 a.m. CT. An earnings release will precede the market's opening. CEO Gary Maharaj and CFO Tim Arens will discuss financial results and company achievements. The call will include access via a dedicated link and phone number. An audio replay will be available from 10:30 a.m. CT on July 27 to August 3. Surmodics focuses on medical device surface modification and aims to improve disease detection and treatment.