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 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.
Surmodics, Inc. (Nasdaq: SRDX) will host a live webcast of its Q1 fiscal 2021 conference call on February 9, at 7:30 a.m. CT. An earnings news release will precede the call. Key executives including CEO Gary Maharaj and CFO Tim Arens will discuss financial results and accomplishments. The webcast can be accessed via the investor relations section of the company’s website. An audio replay will be available from February 9 to February 16. Surmodics specializes in surface modification technologies for medical devices and aims to address unmet clinical needs.
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