Surmodics Inc Stock Price, News & Analysis

Surmodics (NASDAQ:SRDX) has announced the successful first clinical uses of the Sublime™ Radial Access .018 RX PTA Dilatation Catheter, expanding its product portfolio. The catheter allows treatment of larger vessels and distal lesions via a radial approach, enhancing complex interventions. It features the longest working length (220 cm) in the market and balloon diameters ranging from 2.0 mm to 6.0 mm. The company is optimistic about the adoption of radial-first strategies due to the better access and lower complication risks associated with this method.

Surmodics, Inc. (Nasdaq: SRDX) reported third quarter fiscal 2021 revenues of $23.9 million, an 11% decline year-over-year, with a GAAP EPS loss of $(0.24). Medical Device revenue decreased by 18% to $16.8 million, while In Vitro Diagnostics revenue increased 12% to $7.1 million. Surmodics completed its PMA submission for the SurVeil drug-coated balloon and received FDA clearance for the Sublime catheter and Pounce thrombectomy system. The company raised its fiscal 2021 revenue guidance to $103.5-$105.5 million, while adjusting EPS expectations to a loss of $(0.10) to a profit of $0.05.

Surmodics, Inc. (NASDAQ: SRDX) announced the successful treatment of its first patient using the Pounce™ Thrombectomy System. This innovative device, which received FDA 510(k) clearance in September 2020, effectively removed 30 cm of thrombus from an occluded superficial femoral artery, restoring blood flow. The procedure, performed by Dr. J. Michael Bacharach, was followed by eight additional procedures with positive outcomes. The Pounce system aims to address the significant healthcare challenge of Peripheral Arterial Disease (PAD), affecting over 200 million people worldwide.

Surmodics, Inc. (Nasdaq: SRDX) will host a live webcast of its Q3 fiscal 2021 conference call on August 4 at 7:30 a.m. CT. Earnings news will be released before the market opens. CEO Gary Maharaj and CFO Tim Arens will discuss the financial results and accomplishments during the call. An audio replay will be available from 10:30 a.m. CT on August 4 until August 11. Surmodics specializes in surface modification technologies for medical devices and diagnostic tests, aiming to improve disease detection and treatment.

Surmodics, Inc. (NASDAQ: SRDX) has acquired Vetex Medical Limited, enhancing its thrombectomy portfolio with the ReVene™ Thrombectomy Catheter, FDA-cleared for venous clot removal. The acquisition, valued at $39.9 million upfront, aims to expand treatment options for venous thromboembolism (VTE). Surmodics anticipates this acquisition will be accretive on a non-GAAP basis by the second half of fiscal 2023. The ReVene Catheter aims to improve patient outcomes by allowing efficient clot removal in a single session, potentially making it a first-line treatment.

Surmodics, Inc. (Nasdaq: SRDX) reported a strong fiscal 2021 second quarter, achieving $35.0 million in revenue, a 53% year-over-year increase. GAAP EPS stood at $0.58, with non-GAAP EPS at $0.62. Key highlights include a significant 71% rise in medical device revenue to $27.9 million, driven by $12.5 million from the SurVeil DCB agreement. The company received $10.8 million in license fee revenue from Abbott and maintained a solid cash position of $70.0 million, with no debt. Surmodics set its fiscal 2021 revenue guidance between $101 million and $105 million.

Surmodics, Inc. (Nasdaq: SRDX) will host a live webcast of its Q2 fiscal 2021 conference call on April 28 at 7:30 a.m. CT. The earnings release will be made prior to market opening. CEO Gary Maharaj and CFO Tim Arens will discuss the financial results during the call. An audio replay will be available from 10:30 a.m. CT on the same day until May 5. Surmodics focuses on surface modification technologies for medical devices and provides chemical components for diagnostic tests, aiming to improve disease detection and treatment.

Surmodics, Inc. (NASDAQ:SRDX) announced the first patient uses of its Sublime™ Radial Access Platform, including the Sublime Radial Access Guide Sheath and .014 RX PTA Dilatation Catheter. Dr. Ibrahim's successful procedures at Ashchi Heart and Vascular Center demonstrated the devices' ease of use and effectiveness. The Sublime products aim to enhance transradial access for peripheral procedures, featuring industry-leading specifications like a 250 cm working length. The company sees potential in expanding the radial-first approach for lower extremity treatments.

Surmodics, Inc. (Nasdaq: SRDX) announced that CEO Gary Maharaj and CFO Tim Arens will present at the Sidoti & Company Virtual Investor Conference on March 25 at 10:00 a.m. ET. The presentation will be accessible via a live audio webcast on the company's investor relations website, with an archived version available for 90 days post-event. Surmodics specializes in medical device technologies and diagnostic solutions, focusing on innovative products to meet clinical needs. The company is headquartered in Eden Prairie, Minnesota.