The company, based in Eden Prairie, Minn., said it will lay off about 30 of its 250 workers. SurModics, aiming to save $3 million to $3.5 million a year, will book a one-time restructuring charge of $1.3 million to $1.7 million during the first quarter of 2011.
SurModics Inc. (NSDQ:SRDX) reached a deal to license its drug delivery technology to an Australian firm that will use it for a skin disorder treatment.
SurModics Inc. (NSDQ:SRDX) posted first-quarter sales of $9.2 million for the three months ended Dec. 31, 2009, down 80.7 percent compared with $47.7 million during the same period last year. Net income fell 93 percent to $1.9 million, compared with $27.1 million during Q1 2009: