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 (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.
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.
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