Surmodics Inc Stock Price, News & Analysis

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 The presentation will be accessible via a live audio webcast on the company's investor relations website, with an archived version available for 90 days post-event.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.

Surmodics, Inc. (Nasdaq: SRDX) reported Q1 fiscal 2021 results, with revenue of $22.3 million, a 1% decline year-over-year. GAAP EPS was ($0.02), while non-GAAP EPS stood at $0.02. Key highlights include the SurVeil™ drug-coated balloon clinical trial meeting all primary endpoints and achieving a $15 million milestone under the Abbott Agreement, expected to enhance revenue. Medical Device revenue decreased 7% to $16.2 million, while In Vitro Diagnostics revenue rose 17% to $6.1 million. The company will not provide fiscal guidance amid COVID-19 uncertainties.

Surmodics, a leader in medical device technology, will host its Annual Meeting of Shareholders on February 11 at 4:00 p.m. CT, virtually. CEO Gary Maharaj and Chair Sue Knight will discuss the company's strategic initiatives and business updates. Shareholders can log into the meeting via www.virtualshareholdermeeting.com/SRDX2021 five minutes before it starts. A replay will be available until February 11, 2022. Surmodics specializes in surface modification technologies for medical devices and IVD tests, striving to enhance disease detection and treatment.

Surmodics, Inc. (Nasdaq: SRDX) will host a live webcast of its Q1 fiscal 2021 conference call on February 9, at 7:30 a.m. CT. An earnings news release will precede the call. Key executives including CEO Gary Maharaj and CFO Tim Arens will discuss financial results and accomplishments. The webcast can be accessed via the investor relations section of the company’s website. An audio replay will be available from February 9 to February 16. Surmodics specializes in surface modification technologies for medical devices and aims to address unmet clinical needs.

Surmodics, Inc. (NASDAQ:SRDX) announced the presentation of 12-month data from its TRANSCEND clinical trial at the Leipzig Interventional Course 2021. This trial compared the efficacy and safety of the SurVeil™ drug-coated balloon (DCB) against the IN.PACT® Admiral® DCB in patients with femoropopliteal artery disease. Results showed that SurVeil DCB is non-inferior to the higher drug dose IN.PACT Admiral while using a substantially lower paclitaxel dose. The SurVeil DCB exhibited a primary patency rate of 81.7% and a strong safety profile, suggesting it may set a new standard in PAD treatment.

Surmodics, Inc. (NASDAQ:SRDX) has announced the presentation of 12-month data from its TRANSCEND clinical trial at the Leipzig Interventional Course (LINC) 2021 virtual event on January 25, 2021. Dr. Kenneth Rosenfield will present findings comparing the SurVeil drug-coated balloon with the IN.PACT Admiral drug-coated balloon for treating femoropopliteal artery disease. The trial evaluated the safety and efficacy of the SurVeil device, involving 446 patients across 65 sites, focusing on primary patency and safety endpoints.

Surmodics, Inc. (NASDAQ:SRDX) presented 6-month data from its AVESS first-in-human study of the Avess™ AV Fistula drug-coated balloon (DCB) at the Vascular Interventional Advances (VIVA) 2020 virtual conference. The study indicated a target lesion patency of 90.9% at 6 months and no reported adverse events. The Avess DCB, designed to minimize paclitaxel exposure, aims to enhance vascular treatment by improving drug distribution within arteries. Data was collected from 12 patients, emphasizing the device's safety and potential benefits in vascular access management.

Surmodics, Inc. (Nasdaq: SRDX) reported fourth quarter fiscal 2020 revenue of $22.5 million, down 27% year-over-year. The company experienced a GAAP loss per share of ($0.22), compared to earnings of $0.26 in the prior year. Medical Device revenue declined 31% to $17.2 million, influenced by $1.6 million from a deal with Abbott Vascular. In Vitro Diagnostics revenue was $5.4 million, a 10% decrease. Cash and short-term investments stood at $61.1 million with no debt. The company has refrained from providing future guidance due to COVID-19 uncertainties.

Surmodics, Inc. (Nasdaq: SRDX) will host a live webcast on November 4, 2020, at 4 p.m. CT to discuss its fourth quarter fiscal 2020 results. The earnings release will be issued post-market close that day. CEO Gary Maharaj and CFO Tim Arens will detail financial results and accomplishments during the call. An audio replay will be available from 7 p.m. CT on November 4 until 7 p.m. CT on November 11. Surmodics specializes in surface modification technologies for medical devices and chemical components for in vitro diagnostic tests.