Welcome to our dedicated page for Surmodics news (Ticker: SRDX), a resource for investors and traders seeking the latest updates and insights on Surmodics stock.
Surmodics, Inc. (SRDX) generates news as a provider of medical device technologies, vascular intervention devices, and in vitro diagnostic components. Company announcements frequently highlight developments in its performance coating technologies for intravascular devices, its Pounce™ Thrombectomy Platform, and its SurVeil™ drug-coated balloon (DCB), as well as financial results and corporate transactions.
Investors and industry observers following Surmodics news can expect updates on clinical and real-world evidence for its vascular intervention products. The company has reported data from the PROWL registry, an open-label, multi-center U.S. registry evaluating the Pounce Thrombectomy Platform for non-surgical removal of emboli and thrombi in the peripheral arterial vasculature. News coverage includes analyses of 160-patient cohorts with symptomatic limb ischemia and sex-specific outcomes, presented at conferences such as the VIVA Vascular Symposium and the TCT Symposium.
Surmodics also issues press releases on product milestones, including the commercial release and early clinical use of the Pounce XL Thrombectomy System, which is intended for thrombus and embolus removal in peripheral arteries of larger diameters. Additional news has covered publication of the TRANSCEND clinical trial, which evaluated the SurVeil DCB in femoropopliteal arterial disease.
Financial news from Surmodics includes quarterly earnings releases, segment revenue trends in its Medical Device and In Vitro Diagnostics businesses, and updates to fiscal year guidance. The company has also reported on a pending and subsequently completed acquisition by an affiliate of GTCR LLC, including regulatory actions, court decisions related to the Federal Trade Commission’s attempt to block the transaction, and steps toward delisting from Nasdaq and transitioning to private ownership.
By monitoring this news feed, readers can track Surmodics’ product performance data, regulatory and legal developments, and financial disclosures as the company advances its mission to improve the detection and treatment of disease.
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.
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.
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