![]() ![]() Reliance on Third Parties: A principal element of Surmodics’ business strategy is to enter into licensing arrangements with medical devices and other companies that manufacture products incorporating its technologies. In October 2022, Surmodics announced its entry into a new, five-year credit agreement with MidCap Financial, which is encouraging. The company registered robust revenues from its Medical Device segment, as well as from its Product sales, and royalties and license fees. Strong Q1 Results: Surmodics’ better-than-expected earnings in first-quarter fiscal 2023 buoy optimism about the stock. Per management, the real-world feedback thus obtained will help inform future design enhancements that benefit physicians and patients while optimizing its commercial viability. During the first-quarter fiscal 2023 earnings call in February, Surmodics confirmed that it had recently begun to conduct limited market evaluations to gain experience across a wide variety of cases and clinical conditions and assess the feedback from various physicians. ![]() Thrombectomy Prospects Bright: Surmodics’ aim to leverage its proprietary Pounce thrombectomy platform technology to develop products raises our optimism. In January, Surmodics announced that the differentiated capabilities of its crystalline drug release platform for sirolimus-coated balloons were discussed in connection with 12-month data from its SWING trial at the International Symposium on Endovascular Therapy. Surmodics has been making progress using its internally developed. The company’s whole product solutions pipeline and sirolimus-based below-the-knee drug-coated balloon program deserve mention. Consistent Efforts to Boost R&D: Surmodics’ solid efforts to improve its R&D stature have been a key growth driver, which raises our optimism. ![]()
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