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. (NASDAQ: SRDX) is a dynamic player in the healthcare industry, partnering with both established and emerging medical device, diagnostic, and life sciences companies. The company specializes in developing and commercializing innovative products aimed at improving lives through better disease detection and treatment.
Surmodics operates under two main segments: the Medical Device unit and the Vitro Diagnostics unit. The Medical Device unit primarily focuses on performance coatings and surface modification technologies. Recently, Surmodics has expanded its role from being a provider of coating technologies to offering complete product solutions thanks to strategic acquisitions.
In the Vitro Diagnostics unit, Surmodics manufactures chemical and biological components used in a variety of in vitro diagnostic immunoassay and molecular tests, serving the diagnostic and biomedical research markets. This segment plays a crucial role in the healthcare industry by providing essential materials for disease detection and research.
Surmodics' mission is steadfast: to enhance the detection and treatment of diseases by leveraging its technology to address complex challenges in the medical device and diagnostic fields. The company is committed to fostering innovation and advancing healthcare solutions, ensuring they remain at the forefront of the industry.
Recent Achievements:
- Successful integration of acquired companies, enhancing their whole-product solutions capability.
- Development of cutting-edge diagnostic technologies improving the accuracy and efficiency of disease detection.
- Establishment of key partnerships with industry leaders to drive innovation and expand market reach.
Current Projects:
- Advancing their surface modification technologies to meet evolving medical needs.
- Expanding their product portfolio to provide comprehensive solutions in the medical device sector.
- Ongoing research and development to innovate and improve diagnostic components.
Surmodics is well-positioned financially, with the majority of its revenue derived from its Medical Device segment. This financial stability supports their ongoing commitment to innovation and excellence in the healthcare industry.
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.
Surmodics, Inc. (Nasdaq: SRDX) will present at the Jefferies 2022 Healthcare Conference on June 9, 2022, at 3:30 p.m. ET. CEO Gary Maharaj and CFO Tim Arens will discuss the company's innovative medical device and diagnostic technologies. A live audio webcast of this event can be accessed here or through the Investor Relations section of their website. The presentation will be archived for 90 days post-event. Surmodics focuses on enhancing disease detection and treatment through advanced surface modification technologies.
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
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.
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