Surmodics (Nasdaq:SRDX) announced today that it entered into a new five-year credit agreement with MidCap Financial worth $125 million. Eden Prairie, Minnesota-based Surmodics’ agreement includes up to $100 million in term loans and a $25 million revolving credit facility. Surmodics has pioneered lubricious, hemocompatible, and drug-delivery coatings for major medical device companies. “We are pleased […]
SurModics Inc.
Surmodics posts mixed bag Q3, raises EPS guidance
Surmodics (NSDQ:SRDX) shares are down today on third-quarter results that were mixed compared to the consensus forecast. The Eden Prairie, Minnesota-based IVD tech developer posted losses of $5.7 million, or 41¢ per share, on sales of $24.9 million for the three months ended June 30, 2022, for a bottom-line slide deeper into the red on […]
MedTech 100 roundup: Industry continues climb
One week after hitting an all-time best mark, the medtech industry has done it again, reaching new heights on Wall Street. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — continued its rise, finishing the week (July 9) at 114.79 points, a rise of 0.2% from the 114.59-point mark […]
Surmodics acquires Vetex Medical and its mechanical thrombectomy catheter
Surmodics (NSDQ:SRDX) announced that it acquired Vetex Medical, a developer and manufacturer of venous clot removal solutions. Buying Galway, Ireland–based Vetex Medical provides Surmodics a second FDA-cleared device for its thrombectomy portfolio. Vetex designed the ReVene thrombectomy catheter to remove large, mixed-morphology blood clots commonly found with venous thromboembolism (VTE). Get the full story at our sister […]
Surmodics slightly up on mixed bag Q2
Surmodics (NSDQ:SRDX) shares ticked up today on second-quarter results that were mixed compared to the consensus forecast. The Eden Prairie, Minn.-based company posted profits of $8.1 million, or 58¢ per share, on sales of $35 million for the three months ended March 31, 2021, for a massive bottom-line gain from $1.5 million profits a year ago […]
Surmodics rises on mixed-bag Q1
Surmodics (NSDQ:SRDX) shares ticked up today on first-quarter results that were mixed compared to the consensus forecast. The Eden Prairie, Minn.-based company posted losses of $274,000, or -2¢ per share, on sales of $22.3 million for the three months ended Dec. 31, 2020, for a bottom-line slide into the red on a sales decline of -1.4%. […]
Surmodics’ DCB shown non-inferior to Medtronic’s In.Pact Admiral
Surmodics (NSDQ:SRDX) announced data showing that its SurVeil drug-coated balloon is non-inferior to Medtronic’s In.Pact Admiral. Eden Prairie, Minn.-based Surmodics’ 12-month data from the Transcend clinical trial, presented at the Leipzig Interventional Course 2021 virtual event, revealed primary results that found the SurVeil DCB is non-inferior to In.Pact Admiral in both safety and efficacy while delivering […]
Surmodics rises on mixed bag Q4
Surmodics (NSDQ:SRDX) shares ticked up to end the day on fourth-quarter results that beat the consensus earnings forecast. The Eden Prairie, Minn.-based in vitro technology developer posted losses of -$2.9 million, or -22¢ per share, on sales of $22.5 million for the three months ended Sept. 30, 2020, for a bottom-line slide into the red on […]
Surmodics wins CE Mark for drug-coated balloon
Surmodics (NSDQ:SRDX) announced today that it received CE Mark approval in Europe for its SurVeil drug-coated balloon (DCB). SurVeil is a next-generation DCB designed for treating peripheral artery disease (PAD) with a proprietary drug-excipient formulation for a durable balloon coating. Pre-clinical data shows a more evenly distributed and durable drug effect and lower incidence of downstream […]
Surmodics hires former Edwards Lifesciences exec as clinical affairs VP
Drug-coated balloon maker Surmodics (NSDQ:SRDX) announced yesterday that it appointed Dr. Nusrath Sultana as its new VP of clinical affairs, effective immediately. Sultana previously served as the senior director of global medical affairs at Edwards Lifesciences, where she was responsible for the development of the medical affairs infrastructure at the company. She also provided leadership, oversight […]
Surmodics shares drop on Q3 earnings, Sundance DCB wins breakthrough FDA nod
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. Get the full story […]
