It currently carries a Zacks Rank #2.īreakout Biotech Stocks with Triple-Digit Profit Potential The company presently carries a Zacks Rank #2.īiogen’ long-term earnings growth rate is estimated at 14%. The company presently carries a Zacks Rank #2 (Buy).ĭaVita’s long-term earnings growth rate is estimated at 9.1%.
You can see the complete list of today’s Zacks #1 Rank stocks here.Īphria’s long-term earnings growth rate is estimated at 24.6%.
Srdx catheters free#
Surmodics currently has a Zacks Rank #1 (Strong Buy).Ī few other top-ranked stocks from the broader medical space are Aphria , DaVita ( DVA Quick Quote DVA - Free Report) and Biogen, Inc. Shares of the company have gained 49.6% compared with the industry’s growth of 14.8% in the past three months. Hence, the CE Mark comes at an ideal time. Per a report by Future Market Insights, the global balloon catheter market is expected to see a CAGR of 3.8% to reach a value of $4.19 billion during the 2016-2026 period. This also served as a boost to the company’s Medical Devices segment. In October 2019, Surmodics attained FDA approval for its Sundance sirolimus-coated balloon (SCB) catheter as a Breakthrough Device under the Agency’s Breakthrough Devices Program. Surmodics is not issuing any projection for revenues from the sale of SurVeil DCB over the rest of fiscal 2020.įor investors’ notice, the SurVeil DCB is used for investigational purposes only in the United States. The company’s SurVeil distribution and development agreement with Abbott Vascular generated revenues of $1.5 million in the second quarter of fiscal 2020. The company will generate around $6.5 million inrevenues in the fiscal third quarter and could earn up to an additional $45 million for future product development projects. As a result of CE Mark attainment, Surmodics will now receive an additional $10.8-million milestone payment. Per the terms of the agreement, Surmodics received a $25-million upfront payment and a $10-million milestone payment for completing patient enrollment in the TRANSCEND clinical trial. In February 2018, Surmodics inked a deal with Abbott that provided the latter with exclusive global commercialization rights for the SurVeil DCB. Pre-clinical data have demonstrated a more evenly distributed and durable drug effect and lower possibility of downstream drug particles compared to the control drug-coated balloon.ĭrug-coated balloons have been widely utilized in Europe as a crucial treatment option for PAD. The technology behind the SurVeil DCB comprises a proprietary drug-excipient formulation for a durable balloon coating and is developed using an innovative process to enhance coating uniformity. This regulatory approval is likely to boost Surmodics’ Medical Devices segment. ( SRDX Quick Quote SRDX - Free Report) recently received CE Mark in the European Union for its SurVeil drug-coated balloon (DCB).The SurVeil DCB is a next-generation device that utilizes best-in-class technology in the treatment of peripheral artery disease (PAD).
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