Surmodics Inc Stock Price, News & Analysis

Surmodics, Inc. (Nasdaq: SRDX) reported second-quarter fiscal 2022 results, revealing total revenue of $26.1 million, a 13% sequential increase, but down from $35 million in the prior-year quarter. Medical Device revenue declined to $18.5 million from $27.9 million year-over-year. In Vitro Diagnostics achieved a record $7.7 million. GAAP EPS was a loss of $(0.29) compared to $0.58 earnings last year. The company raised its fiscal 2022 revenue guidance to $98-$101 million and adjusted EPS guidance to a loss of $(1.70)-(1.35).

Surmodics, Inc. (NASDAQ: SRDX) announced the successful results of its Pounce™ Thrombectomy System in 20 First-in-Human procedures, achieving 100% technical success. The procedures, presented by Dr. Gary Ansel in London, showed that 19 of 20 patients did not require thrombolytics. The average procedure lasted 79.6 minutes, targeting a range of clot types, predominantly in the superficial femoral and popliteal arteries. This device aims to provide a non-surgical solution for peripheral artery disease, potentially revolutionizing treatment options.

Surmodics (NASDAQ:SRDX) announced that Dr. Gary Ansel will present First-In-Human (FIH) data for the Pounce™ Thrombectomy System on April 26 at the Charing Cross International Symposium in London. This innovative device enables efficient clot removal from peripheral arteries without needing external equipment. Ansel's presentation will review results from the first 20 procedures across six medical centers. The Pounce system aims to improve outcomes for patients with Peripheral Artery Disease (PAD), affecting over 200 million globally.

Surmodics, Inc. (NASDAQ: SRDX) will host a live webcast for its second quarter fiscal 2022 conference call on April 27 at 7:30 a.m. CT. The earnings news release will be issued prior to market open. President Gary Maharaj and CFO Tim Arens will discuss financial results and accomplishments during the call. Interested parties can access the webcast via the company's investor relations website. An audio replay of the call will be available shortly after the event until May 4.

Surmodics specializes in medical device surface modification technologies and aims to enhance disease detection and treatment.

Surmodics, Inc. (Nasdaq: SRDX) will conduct its Annual Meeting of Shareholders on February 10 at 4 p.m. CT as a virtual event. Board chair Sue Knight and CEO Gary Maharaj will discuss key business updates and strategic initiatives. Participants can join the meeting via www.virtualshareholdermeeting.com/SRDX22. A replay will be available until February 10, 2023. Surmodics focuses on advancing medical device technologies and diagnostics.

Surmodics, Inc. (Nasdaq: SRDX) reported a first quarter revenue of $23.0 million, up 3% year-over-year, driven by a 4% increase in Medical Device revenue to $16.9 million. However, the company posted a GAAP EPS loss of $(0.20), worsening from $(0.02) a year ago, while non-GAAP EPS was $(0.13) compared to $0.02 previously. The firm reiterated its 2022 revenue guidance of $97 million to $101 million and projected a GAAP EPS loss of $(2.05) to $(1.55. A potential $30 million milestone from Abbott related to the SurVeil DCB is anticipated for 2022 or 2023.

Surmodics, Inc. (Nasdaq: SRDX) will host a live webcast of its first quarter fiscal 2022 conference call on February 3 at 7:30 a.m. CT. The earnings news release will be issued before the market opens that day. President Gary Maharaj and CFO Tim Arens will recap financial results and accomplishments. An audio replay will be available from 10:30 a.m. CT on February 3 until February 10. Surmodics specializes in surface modification technologies for medical devices and aims to meet unmet clinical needs.

Surmodics, Inc. (NASDAQ: SRDX) will participate in the Sidoti Winter Virtual Investor Conference on January 19, 2022. CEO Gary Maharaj and CFO Tim Arens will present and hold one-on-one meetings with investors. The live audio webcast is scheduled for 10:45 a.m. ET and can be accessed via the company’s investor relations website. This conference emphasizes Surmodics’ commitment to engaging with investors while showcasing its innovations in medical device technologies and in vitro diagnostics.

Surmodics, Inc. (Nasdaq: SRDX) reported a four-year revenue increase of 6% year-over-year for Q4 fiscal 2021, totaling $24.0 million. Medical Device revenue accounted for $17.4 million, while In Vitro Diagnostics revenue rose 23% to $6.6 million. Despite this growth, the company posted a GAAP EPS loss of $(0.02) and a non-GAAP EPS loss of $(0.10). Surmodics aims for fiscal 2022 revenue between $97 million and $101 million and anticipates a potential $30 million milestone payment from a regulatory agreement. They expect a GAAP EPS loss of $(2.05) to $(1.55) in fiscal 2022.