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Surmodics is a medical device maker that makes coatings for medical devices and manufactures chemicals for diagnostic immunoassay tests The company will make a drug-coated balloon that will be sold by Abbott Laboratories. Surmodics will receive a portion of the revenue from the device, along with milestone payments.
Surmodics' (SRDX) SurVeil DCB is indicated to treat percutaneous transluminal angioplasty in peripheral artery disease patients. Abbott will initiate commercialization of SurVeil DCB, per a deal with Surmodics.
SurModics (SRDX) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.
Surmodics' (SRDX) receipt of FDA's clearance is expected to expand the treatment range of the Pounce platform and serve a wider patient pool.
Surmodics makes coatings for medical devices and manufactures chemicals for diagnostic immunoassay tests. The company said it hopes to get approval for its drug-coated balloon vascular device by the fourth quarter.
Surmodics (SRDX) reports a solid fiscal second-quarter top line on the back of robust Medical Device revenues.
Surmodics, Inc (SRDX) Q2 2023 Earnings Call Transcript.
SurModics (SRDX) came out with a quarterly loss of $0.40 per share versus the Zacks Consensus Estimate of a loss of $0.49. This compares to loss of $0.22 per share a year ago.
Investors continue to feel optimistic about Surmodics (SRDX) owing to its solid prospects in the thrombectomy business.
Surmodics' (SRDX) receipt of the FDA's positive formal feedback regarding its PMA application for the SurVeil DCB looks promising.