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%.

Adjusted to exclude one-time items, earnings per share were 2¢, 11¢ ahead of Wall Street, where analysts were looking for sales of $22.4 million.

The company reached a major milestone in the quarter when 12-month data from its Transcend clinical trial showed that its SurVeil drug-coated balloon is non-inferior to Medtronic’s In.Pact Admiral.

“The entire Surmodics team is wholeheartedly pleased with the results of our Transcend clinical trial, which demonstrates comparable safety and effectiveness of our SurVeil drug-coated balloon using a substantially lower drug dose than the comparative product,” Surmodics presid…

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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 a “substantially lower” drug dose, according to a news release.

Transcend is a global, multi-center, randomized, controlled clinical trial with 1:1 randomization to SurVeil or In.Pact Admiral in patients with symptomatic femoropopliteal artery disease. Both DCBs use coatings with paclitaxel — a controversial drug that could cause a higher risk for death — although In.Pact Admiral has a 75% higher drug load of paclitaxel than SurVeil, Surmodics said.

The primary efficacy endpoint for the trial was primary patency — defined a…

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