Surmodics (NSDQ:SRDX) shares plummeted today despite third-quarter results that topped Wall Street projections. Eden Prairie, Minn.-based Surmodics posted profits of $3.55 million, or 26¢ per share, on sales of $30.8 million for the three months ended Sept. 30, moving from red to black on revenue growth of 33.8% compared with Q3 2018. Adjusted to exclude one-time […]
SurModics Inc.
Surmodics reaps $10m from Abbott on SurVeil balloon milestone
Surmodics (NSDQ:SRDX) said today that it’s due for a $10 million milestone payment from Abbott (NYSE:ABT) after closing enrollment for the Transcend pivotal trial of its SurVeil drug-coated balloon for treating peripheral artery disease. Abbott in February 2018 paid $25 million up front for the global commercialization rights to the SurVeil device, which uses a proprietary […]
Surmodics tops Q4 sales estimates, misses on EPS
Shares in Surmodics (NSDQ:SRDX) fell today after the medical device maker topped sales expectations but missed EPS estimates on Wall Street with its fourth-quarter financial results. The Eden Prairie, Minn.-based company was in the red this quarter, posting a net loss of -$1.8 million, or -13¢ per share, on sales of $23 million for the three months […]
VIVA 2018 Roundup: Surmodics reports positive one-year data for SurVeil drug-coated balloon
By Sarah Faulkner & Fink Densford Surmodics (NSDQ:SRDX) touted data this week from an early feasibility study of the company’s SurVeil drug-coated balloon in patients with symptomatic peripheral artery disease due to de novo lesions of the femoral and popliteal arteries. All of the study’s 13 subjects met the acute success measures of safety at […]
Abbott, Surmodics ink $25m deal for drug-coated balloon tech
Abbott (NYSE:ABT) is slated to pay $25 million upfront for the global commercialization rights to Surmodics‘ (NSDQ:SRDX) SurVeil drug-coated balloon, the companies announced today. The company’s drug-device combo, which is in pivotal trials in the U.S., is designed to treat peripheral artery disease in the superficial femoral artery. According to the deal, Abbott could also negotiate […]
Surmodics misses sales estimates in Q1
Shares in Surmodics (NSDQ:SRDX) fell slightly today after the medical device maker missed expectations on Wall Street with its first quarter results. The Eden Prairie, Minn.-based company swung to a net loss of -$1.5 million on sales of $17.0 million for the 3 months ended Dec. 31, for a sales loss of -4% compared with the […]
Surmodics Q4 results top sales, earnings estimates
Shares in Surmodics (NSDQ:SRDX) fell today even though the medical device maker beat expectations on Wall Street with its fourth quarter results. The Eden Prairie, Minn.-based company posted profits of $400,000 on sales of $20.1 million for the 3 months ended Sept. 30, for bottom-line loss of -84.9% on sales growth of 10.4% compared with the […]
Surmodics goes head-to-head with Medtronic’s drug-coated balloon in pivotal trial
Surmodics (NSDQ:SRDX) announced today that the first patient was enrolled in a pivotal clinical trial evaluating its SurVeil drug-coated balloon. The 446-patient trial is designed to compare the company’s SurVeil device to Medtronic‘s (NYSE:MDT) In.Pact Admiral drug-coated balloon as a treatment for peripheral artery disease in the upper leg. “Based on the preclinical and early feasibility study […]
VIVA 17 Round-up: Medtronic touts real-world data for In.Pact Admiral drug-coated balloon
Medtronic (NYSE:MDT) touted data for its In.Pact Admiral drug-coated balloon this week at the Vascular Interventional Advances (VIVA) 2017 conference. The company presented two-year, real-world data from the In.Pact Global study, as well as four-year results from the pivotal In.Pact SFA study. Data from the In.Pact Global study showed a 83.3% rate of freedom from clinically-driven target […]
SurModics misses on Q2 earnings, narrows outlook
Shares in SurModics (NSDQ:SRDX) fell today after the medical device maker missed earnings expectations on Wall Street with its 2nd quarter results and narrowed its full-year outlook. The Eden Prairie, Minn.-based company posted profits of $506,000, or 4¢ per share, on sales of $17.5 million for the 3 months ended March 31, for bottom-line loss of […]
