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 ended […]
VIVA 2018 Roundup: Surmodics reports positive one-year data for SurVeil drug-coated balloon
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 12 months, Surmodics reported, and no […]
Surmodics reports positive one-year data for SurVeil drug-coated balloon
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 12 months, Surmodics reported, and no participants […]
CardioMech taps medtech vet Nehm for CEO | Personnel Moves, November 5, 2018
CardioMech taps medtech veteran Nehm for CEO Swedish mitral valve repair company CardioMech said today that it named medical device industry veteran Richard Nehm as president & CEO effective immediately. Nehm’s resume includes stints at Boston Scientific (NYSE:BSX), Abbott (NYSE:ABT) acquisition Tendyne and ATS Medical (acquired by Medtronic (NYSE:MDT)). CardioMech also named Spinal Stabilization Technologies president […]
Surmodics’ acquisition hits earnings bottom line
Surmodics (NSDQ:SRDX) today posted earnings that beat expectations on Wall Street and adjusted its guidance for the remaining year. The Eden Prairie, Minn. company took an expected hit to earnings due to its $5 million-plus acquisition of Embolitech’s thrombectomy platform. Surmodics posted a net loss of -$2.68 million compared with a profit of $720 million in the […]
SurModics acquires Embolitech thrombectomy tech for $5m
SurModics (NSDQ:SRDX) said today it inked a deal with Embolitech to acquire its thrombectomy platform and the associated intellectual property in a deal worth $5 million up front, with additional payments based on regulatory milestones. The newly acquired tech platform is designed for use in the peripheral vasculature to remove hard blood clots, Eden Prairie, Minn.-based SurModics […]
SurModics wins FDA nod for low-profile PTA balloon dilation catheter
SurModics (NSDQ:SRDX) said yesterday it won FDA 510(k) clearance for its .018″ low-profile percutaneous transluminal angioplasty balloon dilation catheter designed for peripheral vascular use. The newly cleared low-profile catheter features the Eden Prairie, Minn.-based company’s low-friction, low-particulate Serene hydrophilic coating with a range of between 2mm to 10mm. “We are delighted to announce this latest of three […]
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 agreements […]
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 same […]
SurModics wins FDA nod for Telemark crossing microcatheter
SurModics (NSDQ:SRDX) said today that it won 510(k) clearance from the FDA for its Telemark 0.014″ coronary and peripheral microcatheter, saying it plans to have the device on the U.S. market “in the coming months.” The Eden Prairie, Minn.-based medical device company said Telemark combines its Xtreme composite shaft technology with its Pristyne hydrophilic coating and […]
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 same […]
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