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) 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.
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.
FAQ
What is the current stock price of Surmodics (SRDX)?
What is the market cap of Surmodics (SRDX)?
What does Surmodics, Inc. specialize in?
What are the main business segments of Surmodics, Inc.?
What is the mission of Surmodics, Inc.?
Who does Surmodics, Inc. partner with?
Where does Surmodics, Inc. derive the majority of its revenue from?
What recent achievements has Surmodics, Inc. accomplished?
What current projects is Surmodics, Inc. working on?
How is Surmodics, Inc. contributing to the healthcare industry?
What role does the Vitro Diagnostics unit play in Surmodics, Inc.?
How is Surmodics, Inc. positioned financially?
