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.
About Surmodics Inc.
Surmodics Inc. (SRDX) is a company deeply embedded in the medical device, diagnostic, and life sciences sectors. Known for its significant contributions in coating technologies and now its evolving whole-product solutions, the company partners with leading and emerging players to transform how medical devices address complex challenges. With a robust background in developing advanced coatings, Surmodics has built a reputation for innovating in areas crucial to improving the detection and treatment of diseases.
Business Model & Core Solutions
Historically, Surmodics has specialized in the development of coating technologies that enhance the performance and safety of a wide range of medical devices. The company has now broadened its scope to provide comprehensive product solutions. This transformation is driven by a strategy of integrating innovative coatings with additional functionalities that help in the detection and treatment of diseases. At its core, the company leverages deep scientific expertise and cutting-edge engineering to deliver solutions that address critical challenges in the healthcare industry.
Partnerships and Industry Expertise
Surmodics collaborates with some of the world's most respected medical device, diagnostic, and life sciences companies. These partnerships enable the company to remain at the forefront of technological advancements across multiple sectors. By combining industry-specific insights with a history of research and development excellence, Surmodics consistently addresses industry needs with customized solutions. The company’s commitment to quality and innovation underscores its standing as a trusted partner in the healthcare ecosystem.
Competitive Landscape and Market Position
Operating within a competitive and innovation-driven industry, Surmodics distinguishes itself through its ability to move beyond traditional coating technologies. Its strategic acquisitions and broadened product offerings have repositioned the company to offer whole-product solutions that cater to complex medical challenges. Surmodics’ systematic approach to problem solving, which integrates both advanced coatings and product development, provides a unique competitive edge. This repositioning allows the company to respond effectively to the evolving needs of healthcare providers.
Technological Innovations and Operational Excellence
The evolution at Surmodics is marked by continual investment in research and development, targeted at solving critical issues in medical devices and diagnostics. The company employs advanced technologies and engineering practices to enhance product performance and reliability. By addressing the intricate demands of medical technology through innovation and strategic problem solving, Surmodics serves as a prime example of how scientific research can be translated into practical, life-improving solutions. Its operational model emphasizes steady improvements, robust quality control, and a continuous drive to adapt to emerging technological trends.
Integrated Solutions for a Changing Industry
Surmodics’ transformation from being a provider of coating technologies to a developer of whole-product offerings is a response to the increasing complexity of medical device challenges. The company integrates several facets of product design, from innovative materials science to detailed engineering processes, ultimately delivering products that meet detailed clinical requirements. This holistic view enables Surmodics to streamline the process of medical device development, thereby ensuring that the products not only perform reliably but also contribute significantly to improving patient outcomes through enhanced disease detection and treatment capabilities.
Commitment to Technological Excellence and Healthcare Impact
At its foundation, Surmodics is dedicated to improving healthcare delivery by addressing difficult challenges inherent in medical device performance. The continuous drive for technological excellence and the willingness to evolve have kept the company relevant in an era where healthcare innovation is paramount. Surmodics’ ability to combine technical expertise with strategic partnerships places it in an advantageous position to assist clients in overcoming hurdles associated with medical device development. Investors and industry professionals can view this approach as a reaffirmation of the company’s commitment to operational excellence and impactful technology solutions.
Surmodics, Inc. (NASDAQ:SRDX) announced that findings from the TRANSCEND clinical trial will be shared at the Vascular InterVentional Advances (VIVA) conference on November 1, 2022. Dr. Kenneth Rosenfield will present 24-month data on the efficacy and safety of the SurVeil drug-coated balloon (DCB) compared to IN.PACT Admiral DCB. Initial results at 12 months indicated non-inferiority for SurVeil with a lower drug dose. Surmodics has an agreement with Abbott (NYSE: ABT) for commercialization rights.
Surmodics, Inc. (Nasdaq: SRDX) announced a new five-year credit agreement with MidCap Financial, offering up to $100 million in term loans and $25 million in revolving credit. CEO Gary Maharaj emphasized improved capital access on favorable, non-dilutive terms. The company initially drew $25 million from the term loan and $5 million from the revolving credit, boosting its cash balance by $19.5 million. Interest-only payments for the term loan are set for the first four years. Total interest expenses are expected to be approximately $3.4 million in fiscal 2023.
Surmodics, Inc. (NASDAQ:SRDX) announced promising 6-month results from the SWING study of its Sundance™ Sirolimus drug-coated balloon (DCB) at the Amputation Prevention Symposium in Lugano, Switzerland. The study reported an 88.5% primary patency rate and a Late Lumen Loss (LLL) of 1.0 mm across 35 lesions, indicating sustained efficacy. No major amputations or perioperative deaths were observed, and only one major re-intervention was needed among participants. The Sundance DCB employs innovative coating technology to enhance sirolimus delivery, aiming to reduce restenosis.
Surmodics, Inc. (NASDAQ:SRDX) announced the presentation of 6-month data from the SWING Trial, evaluating the safety and performance of the Sundance™ Sirolimus Drug-Coated Balloon. This first-in-human study will be presented by Professor Ramon Varcoe on October 11 at the Amputation Prevention Symposium in Switzerland. The Sundance Balloon aims to offer a new treatment for patients with Critical lower limb ischemia, potentially improving quality of life and reducing surgical intervention needs. The device is currently for investigational use only and not for sale.
Surmodics, Inc. (NASDAQ: SRDX) announced a presentation at the Gilmartin Emerging Growth Company Showcase on
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.
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