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 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.
Surmodics, Inc. (NASDAQ:SRDX) announced the presentation of 12-month data from its TRANSCEND clinical trial at the Leipzig Interventional Course 2021. This trial compared the efficacy and safety of the SurVeil™ drug-coated balloon (DCB) against the IN.PACT® Admiral® DCB in patients with femoropopliteal artery disease. Results showed that SurVeil DCB is non-inferior to the higher drug dose IN.PACT Admiral while using a substantially lower paclitaxel dose. The SurVeil DCB exhibited a primary patency rate of 81.7% and a strong safety profile, suggesting it may set a new standard in PAD treatment.
Surmodics, Inc. (NASDAQ:SRDX) has announced the presentation of 12-month data from its TRANSCEND clinical trial at the Leipzig Interventional Course (LINC) 2021 virtual event on January 25, 2021. Dr. Kenneth Rosenfield will present findings comparing the SurVeil drug-coated balloon with the IN.PACT Admiral drug-coated balloon for treating femoropopliteal artery disease. The trial evaluated the safety and efficacy of the SurVeil device, involving 446 patients across 65 sites, focusing on primary patency and safety endpoints.
Surmodics, Inc. (NASDAQ:SRDX) presented 6-month data from its AVESS first-in-human study of the Avess™ AV Fistula drug-coated balloon (DCB) at the Vascular Interventional Advances (VIVA) 2020 virtual conference. The study indicated a target lesion patency of 90.9% at 6 months and no reported adverse events. The Avess DCB, designed to minimize paclitaxel exposure, aims to enhance vascular treatment by improving drug distribution within arteries. Data was collected from 12 patients, emphasizing the device's safety and potential benefits in vascular access management.
Surmodics, Inc. (Nasdaq: SRDX) reported fourth quarter fiscal 2020 revenue of $22.5 million, down 27% year-over-year. The company experienced a GAAP loss per share of ($0.22), compared to earnings of $0.26 in the prior year. Medical Device revenue declined 31% to $17.2 million, influenced by $1.6 million from a deal with Abbott Vascular. In Vitro Diagnostics revenue was $5.4 million, a 10% decrease. Cash and short-term investments stood at $61.1 million with no debt. The company has refrained from providing future guidance due to COVID-19 uncertainties.
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