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. (SRDX) drives innovation in medical device coatings and diagnostic solutions through partnerships with global healthcare leaders. This news center delivers verified updates on the company's financial developments, regulatory milestones, and technological breakthroughs shaping patient care.
Find curated press releases detailing SRDX's advancements in vascular intervention systems, diagnostic platform enhancements, and strategic collaborations. Track earnings reports and product launch announcements that highlight the company's transition from coating pioneer to comprehensive medical solution developer.
Our repository includes updates on FDA clearances, clinical study results, and manufacturing expansions critical for assessing SRDX's market position. Discover how the company's surface modification expertise addresses challenges in drug delivery systems and in-vitro diagnostics.
Bookmark this page for ongoing insights into Surmodics' role in medical innovation. Return regularly to stay informed about developments impacting the future of minimally invasive therapies and diagnostic accuracy.
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.
Surmodics, Inc. (Nasdaq: SRDX) will host a live webcast of its Q2 fiscal 2021 conference call on April 28 at 7:30 a.m. CT. The earnings release will be made prior to market opening. CEO Gary Maharaj and CFO Tim Arens will discuss the financial results during the call. An audio replay will be available from 10:30 a.m. CT on the same day until May 5. Surmodics focuses on surface modification technologies for medical devices and provides chemical components for diagnostic tests, aiming to improve disease detection and treatment.
Surmodics, Inc. (NASDAQ:SRDX) announced the first patient uses of its Sublime™ Radial Access Platform, including the Sublime Radial Access Guide Sheath and .014 RX PTA Dilatation Catheter. Dr. Ibrahim's successful procedures at Ashchi Heart and Vascular Center demonstrated the devices' ease of use and effectiveness. The Sublime products aim to enhance transradial access for peripheral procedures, featuring industry-leading specifications like a 250 cm working length. The company sees potential in expanding the radial-first approach for lower extremity treatments.
Surmodics, Inc. (Nasdaq: SRDX) announced that CEO Gary Maharaj and CFO Tim Arens will present at the Sidoti & Company Virtual Investor Conference on March 25 at 10:00 a.m. ET. The presentation will be accessible via a live audio webcast on the company's investor relations website, with an archived version available for 90 days post-event. Surmodics specializes in medical device technologies and diagnostic solutions, focusing on innovative products to meet clinical needs. The company is headquartered in Eden Prairie, Minnesota.
Surmodics, Inc. (Nasdaq: SRDX) reported Q1 fiscal 2021 results, with revenue of $22.3 million, a 1% decline year-over-year. GAAP EPS was ($0.02), while non-GAAP EPS stood at $0.02. Key highlights include the SurVeil™ drug-coated balloon clinical trial meeting all primary endpoints and achieving a $15 million milestone under the Abbott Agreement, expected to enhance revenue. Medical Device revenue decreased 7% to $16.2 million, while In Vitro Diagnostics revenue rose 17% to $6.1 million. The company will not provide fiscal guidance amid COVID-19 uncertainties.
Surmodics, a leader in medical device technology, will host its Annual Meeting of Shareholders on February 11 at 4:00 p.m. CT, virtually. CEO Gary Maharaj and Chair Sue Knight will discuss the company's strategic initiatives and business updates. Shareholders can log into the meeting via www.virtualshareholdermeeting.com/SRDX2021 five minutes before it starts. A replay will be available until February 11, 2022. Surmodics specializes in surface modification technologies for medical devices and IVD tests, striving to enhance disease detection and treatment.
