Surmodics, Inc. - SRDX STOCK NEWS

Surmodics, Inc. (NASDAQ: SRDX) will participate in the Sidoti Winter Virtual Investor Conference on January 19, 2022. CEO Gary Maharaj and CFO Tim Arens will present and hold one-on-one meetings with investors. The live audio webcast is scheduled for 10:45 a.m. ET and can be accessed via the company’s investor relations website. This conference emphasizes Surmodics’ commitment to engaging with investors while showcasing its innovations in medical device technologies and in vitro diagnostics.

Surmodics, Inc. (Nasdaq: SRDX) reported a four-year revenue increase of 6% year-over-year for Q4 fiscal 2021, totaling $24.0 million. Medical Device revenue accounted for $17.4 million, while In Vitro Diagnostics revenue rose 23% to $6.6 million. Despite this growth, the company posted a GAAP EPS loss of $(0.02) and a non-GAAP EPS loss of $(0.10). Surmodics aims for fiscal 2022 revenue between $97 million and $101 million and anticipates a potential $30 million milestone payment from a regulatory agreement. They expect a GAAP EPS loss of $(2.05) to $(1.55) in fiscal 2022.

Surmodics, Inc. (Nasdaq: SRDX) will host a live webcast of its fiscal 2021 Q4 conference call on November 10 at 7:30 a.m. CT. The company will release its earnings news prior to market opening that same day. CEO Gary Maharaj and CFO Tim Arens will present the financial results and accomplishments during the call. An audio replay will be available after the call and can be accessed until November 17. Surmodics specializes in surface modification technologies for medical devices and in vitro diagnostics, focusing on innovative solutions for unmet clinical needs.

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.