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Private company

SURMODICS INC

SURMODICS INC is an American surgical and medical instruments and apparatus company.2 It is headquartered in Eden Prairie, United States.2

Last updated Oct 21, 2026.

Overview

$126.1MRevenue, fiscal 20243
-$11.5MNet income, fiscal 20243
  • IndustrySurgical & Medical Instruments & Apparatus2
  • HeadquartersEden Prairie, United States2
  • Incorporated inMN4
  • Business address9924 W 74Th St, Eden Prairie, Mn 553444
  • Filer categoryAccelerated filer4
  • Legal formINCORPORATED2
  • LEI549300H76KXCAAGUS8782
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered address9924 West 74th Street, 55344 Eden Prairie, United States2

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Surmodics, Inc. (referred to as “Surmodics,” the “Company,” “we,” “us,” “our” and other like terms) is a leading provider of performance coating technologies for intravascular medical devices and chemical and biological components for in vitro diagnostic (“IVD”) immunoassay tests and microarrays. Surmodics also develops and commercializes highly differentiated vascular intervention medical devices that are designed to address unmet clinical needs and engineered to the most demanding requirements. This key growth strategy leverages the combination of the Company’s expertise in proprietary surface modification and drug-delivery coating technologies, along with its device design, development and manufacturing capabilities. The Company’s mission is to improve the detection and treatment of disease. Surmodics is headquartered in Eden Prairie, Minnesota.6 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

-4.5%Operating margin3
-9.2%Net margin3
-4.9%Revenue growth, 20243
-9.7%Return on equity3
0.25×Debt to equity3
-$3.2MFree cash flow3

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Cost of revenue26¢$33.0M
  • Selling, general and admin45¢$56.8M
  • Other costs26¢$32.2M
  • Income tax3¢$4.0M

Out of $126.1M in revenue.3 The company lost money this year.

Where each dollar of operating cash went, fiscal 2024

  • Capital spending100¢$3.5M

Out of $248.0K of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.3

Financial statements

Revenue78910113$126.1M in 2024+72% since 2017
0$50.0M$100.0M$150.0M2017: $73.1M$73.1M20172018: $81.3M$81.3M2018+11%2019: $100.1M$100.1M2019+23%2020: $94.9M$94.9M2020−5%2021: $105.1M$105.1M2021+11%2022: $100.0M$100.0M2022−5%2023: $132.6M$132.6M2023+33%2024: $126.1M$126.1M2024−5%
Operating income78910113-$5.6M in 2024
-$30.0M-$20.0M-$10.0M0$10.0M2017: $7.1M$7.1M20172018: -$8.8M-$8.8M20182019: $6.5M$6.5M20192020: -$1.3M-$1.3M20202021: $6.7M$6.7M20212022: -$22.1M-$22.1M20222023: $5.2M$5.2M20232024: -$5.6M-$5.6M2024
Net income78910113-$11.5M in 2024
-$30.0M-$20.0M-$10.0M0$10.0M2017: $3.9M$3.9M20172018: -$4.5M-$4.5M20182019: $7.6M$7.6M20192020: $1.1M$1.1M2020−85%2021: $4.2M$4.2M2021+277%2022: -$27.3M-$27.3M20222023: -$1.5M-$1.5M2023−94%2024: -$11.5M-$11.5M2024+651%
Fiscal year20172018201920202021202220232024
Revenue$73.1M7$81.3M8$100.1M9$94.9M10$105.1M11$100.0M3$132.6M3$126.1M3
Cost of revenue$11.4M7$14.0M8$13.6M9$15.3M10$17.2M11$20.3M3$25.0M3$33.0M3
Research and development$31.8M15$41.0M15
Selling, general and admin$20.5M7$24.1M8$23.9M9$28.4M10$30.7M11$46.9M3$51.9M3$56.8M3
Operating expenses$122.0M3$127.4M3$131.7M3
Operating income$7.1M7-$8.8M8$6.5M9-$1.3M10$6.7M11-$22.1M3$5.2M3-$5.6M3
Interest$152.0K9$133.0K10$310.0K11$598.0K11$3.5M11
Income before tax-$22.5M3$2.5M3-$7.5M3
Income tax$3.1M7-$3.1M8-$34.0K9-$2.6M10$2.1M11$4.8M3$4.0M3$4.0M3
Net income$3.9M7-$4.5M8$7.6M9$1.1M10$4.2M11-$27.3M3-$1.5M3-$11.5M3
Earnings per share$0.307-$0.348$0.579$0.0810$0.3111-$1.963-$0.113-$0.823
Earnings per share (diluted)$0.297-$0.348$0.559$0.0810$0.3011-$1.963-$0.113-$0.823
Shares (weighted, basic)13.9M shares314.0M shares314.2M shares3
Shares (weighted, diluted)13.9M shares314.0M shares314.2M shares3

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Corporate structure

SURMODICS INC sits at the top of its group. 11 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of SURMODICS INC

  • GAMCO Investors Filed SCHEDULE 13D/A on SURMODICS INC, latest Nov 20, 2025 (2 filings since Mar 19, 2025)
  • Trium Capital LLP Filed SCHEDULE 13G/A on SURMODICS INC, latest Nov 20, 2025 (2 filings since Jul 15, 2025)
  • Soleus Capital Master Fund, L.P. Filed SCHEDULE 13G/A on SURMODICS INC, latest Nov 7, 2025 (6 filings since Sep 2, 2022)
  • AllianceBernstein Filed SCHEDULE 13G/A on SURMODICS INC, latest May 14, 2025 (2 filings since Nov 15, 2024)
  • Barclays Filed SCHEDULE 13G/A on SURMODICS INC, latest May 13, 2025 (3 filings since Feb 14, 2025)
  • Beryl Capital Management LLC Filed SCHEDULE 13G/A on SURMODICS INC, latest Feb 13, 2025 (2 filings since Jun 10, 2024)
  • Morgan Stanley Filed SC 13G/A on SURMODICS INC, latest Nov 6, 2024 (2 filings since Feb 9, 2024)
  • TRIGRAN INVESTMENTS LP Filed SC 13G/A on SURMODICS INC, latest Oct 23, 2024 (3 filings since May 17, 2022)
  • Trigran Investments, Inc. Filed SC 13G/A on SURMODICS INC, latest Oct 23, 2024 (6 filings since Feb 10, 2022)
  • VANGUARD GROUP INC Filed SC 13G/A on SURMODICS INC, latest Feb 13, 2024 (3 filings since Feb 10, 2022)
  • MILLENNIUM MANAGEMENT LLC Filed SC 13G/A on SURMODICS INC, latest Jan 29, 2024 (2 filings since Mar 20, 2023)
  • BlackRock Filed SC 13G/A on SURMODICS INC, latest Jan 26, 2024 (4 filings since Feb 7, 2022)
  • SURMODICS INC Eden Prairie, Minnesota, United States
    • Creagh Medical Limited Subsidiary · Ireland
    • NorMedix, Inc. Subsidiary · Minnesota, United States
    • Surmodics Coatings Mfg, LLC Subsidiary · Minnesota, United States
    • Surmodics Coatings, LLC Subsidiary · Minnesota, United States
    • Surmodics Holdings, LLC Subsidiary · Minnesota, United States
    • Surmodics IVD, Inc. Subsidiary · Maryland, United States
    • Surmodics MD Operations, LLC Subsidiary · Minnesota, United States
    • SurModics MD, LLC Subsidiary · Minnesota, United States
    • Surmodics Shared Services, LLC Subsidiary · Minnesota, United States
    • Vetex Medical Limited Subsidiary · Ireland

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What SURMODICS INC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Accumulated depreciation$61.8M3 Sep 30, 2024$56.5M3 Sep 30, 2023+9.5%
Property and equipment, net$25.0M3 Sep 30, 2024$26.0M3 Sep 30, 2023−4.1%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$36.1M3 Sep 30, 2024$41.4M3 Sep 30, 2023−12.8%
Marketable securities, current$4.0M3 Sep 30, 2024$3.9M3 Sep 30, 2023+1.6%
Debt securities available for sale$4.0M3 Sep 30, 2024$3.9M3 Sep 30, 2023+1.6%
Debt securities held to maturity$03 Sep 30, 2024$03 Sep 30, 2023

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$44.6M3 Sep 30, 2024$42.9M3 Sep 30, 2023+3.9%
Intangible assets, net (excluding goodwill)$23.6M3 Sep 30, 2024$26.2M3 Sep 30, 2023−10.1%
Accumulated amortization$26.7M3 Sep 30, 2024$21.9M3 Sep 30, 2023+21.7%
Finite-lived intangibles, net$23.0M3 Sep 30, 2024$25.6M11 Sep 30, 2023−10.3%

Inventory

ItemLatestA year beforeChange
Inventory, total$15.2M3 Sep 30, 2024$14.8M3 Sep 30, 2023+2.2%
Raw materials$8.5M3 Sep 30, 2024$8.1M3 Sep 30, 2023+5.5%
Work in process$2.5M3 Sep 30, 2024$2.6M3 Sep 30, 2023−5.0%
Finished goods$4.2M3 Sep 30, 2024$4.2M3 Sep 30, 2023+0.4%

Properties, in its own words

Our principal operations are located in Eden Prairie, a suburb of Minneapolis, Minnesota, where we own a building that has approximately 64,000 square feet of space utilized by our Corporate, Medical Device and IVD reportable segments. We also own a 45,000 square foot building in Ballinasloe, Ireland dedicated to our Medical Device segment. We lease a warehouse in Eden Prairie through December 2025. We lease a 90,000 square foot facility in Eden Prairie through April 2028, which is primarily used by our Medical Device segment for operations, R&D, and manufacturing. We own an undeveloped parcel of land adjacent to our principal facility in Eden Prairie, which we may use to accommodate our growth needs. The MidCap Credit Agreement requires that all of our owned real property, including the properties set forth above, be subject to mortgages securing our obligations under the MidCap Credit Agreement.

Item 2 of the 10-K filed Nov 20, 2024.6

Leadership

Who has led SURMODICS INC, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Bruce Barclay2006–2010
  2. Philip D. Ankeny2010
  3. Gary R. Maharaj2010–now

President

  1. Bruce Barclay2006–2010
  2. Gary R. Maharaj2010–now

Chief financial officer

  1. Philip D. Ankeny2006–2010
  2. Timothy J. Arens2011–2013
  3. Andrew D. C. Lafrence2013–2017

Chief operating officer

  1. Bruce Barclay2006
  2. Thomas A. Greaney2017–2019
2010201520202025
Board members and other officers (42)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Creagh Medical Limited Ireland5
  • NorMedix, Inc. Minnesota5
  • SurModics MD, LLC Minnesota5
  • Surmodics Coatings Mfg, LLC Minnesota5
  • Surmodics Coatings, LLC Minnesota5
  • Surmodics Holdings, LLC Minnesota5
  • Surmodics IVD, Inc. Maryland5
  • Surmodics MD Operations, LLC Minnesota5
  • Surmodics Shared Services, LLC Minnesota5
  • Vetex Medical Limited Ireland5

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Nov 19, 20258-K Ended a material agreement; Completed an acquisition or sale; Listing notice or transfer66
  2. Nov 12, 20258-K Regulation FD disclosure67
  3. Aug 8, 20258-K Results of operations68
  4. Jul 2, 20258-K Other events69
  5. Apr 30, 20258-K Results of operations70
  6. Mar 7, 20258-K Regulation FD disclosure71
  7. Feb 10, 20258-K Shareholder vote72
  8. Jan 30, 20258-K Results of operations73
  9. Nov 6, 20248-K Results of operations74
  10. Aug 14, 20248-K Shareholder vote75
  11. Aug 13, 20248-K Other events76
  12. Aug 8, 20248-K Executive or director change77
  13. Dec 29, 2010New chief executive Gary R. Maharaj becomes CEO18
  14. Jun 30, 2010New chief executive Philip D. Ankeny becomes CEO17
  15. Nov 14, 2006New chief executive Bruce Barclay becomes CEO19

Calendar

When it reported results

  1. Aug 8, 2025Reported quarterly or annual results68
  2. Apr 30, 2025Reported quarterly or annual results70
  3. Jan 30, 2025Reported quarterly or annual results73
  4. Nov 6, 2024Reported quarterly or annual results74
  5. Jul 31, 2024Reported quarterly or annual results78
  6. May 1, 2024Reported quarterly or annual results79
  7. Feb 1, 2024Reported quarterly or annual results80
  8. Nov 8, 2023Reported quarterly or annual results81

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

256 filings to the SEC since October 2021: 4 annual reports, 12 quarterly reports, 39 major events, 122 insider forms, 41 large holders, 38 other. The latest 20:

  1. Dec 1, 202515-12G EDGAR
  2. Nov 20, 2025EFFECT EDGAR
  3. Nov 20, 2025SCHEDULE 13G/A EDGAR
  4. Nov 20, 2025SCHEDULE 13D/A EDGAR
  5. Nov 19, 202525-NSE EDGAR
  6. Nov 19, 20254 EDGAR
  7. Nov 19, 20254 EDGAR
  8. Nov 19, 20254 EDGAR
  9. Nov 19, 20254 EDGAR
  10. Nov 19, 20254 EDGAR
  11. Nov 19, 20254 EDGAR
  12. Nov 19, 20254 EDGAR
  13. Nov 19, 20254 EDGAR
  14. Nov 19, 20254 EDGAR
  15. Nov 19, 20254 EDGAR
  16. Nov 19, 20254 EDGAR
  17. Nov 19, 2025S-8 POS EDGAR
  18. Nov 19, 2025S-8 POS EDGAR
  19. Nov 19, 2025S-8 POS EDGAR
  20. Nov 19, 2025S-8 POS EDGAR

The 256 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

11 open-market trades by officers, directors and large owners since October 2021: 0 buys and 11 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Nov 26, 2024Arens Timothy J.Chief Financial OfficerSale7,009$39.44$276.4KForm 4
Nov 28, 2022BEDOYA JOSE HDirectorSale4,366$34.89$152.3KForm 4
Nov 14, 2022DANTZKER DAVIDDirectorSale2,773$33.00$91.5KForm 4
Nov 11, 2022KALICH RONALD B SRDirectorSale2,733$33.48$91.5KForm 4
Apr 1, 2022Maharaj Gary RPresident & CEOSale4,000$44.98$179.9KForm 4
Feb 28, 2022KNIGHT SUSAN EDirectorSale4,366$44.97$196.3KForm 4
Jan 4, 2022Stich Joseph J.SVP of HR, President IVDSale2,500$50.00$125.0KForm 4
Nov 30, 2021BEDOYA JOSE HDirectorSale5,576$44.00$245.3KForm 4
Nov 24, 2021DANTZKER DAVIDDirectorSale3,475$47.01$163.4KForm 4
Nov 1, 2021Maharaj Gary RPresident & CEOSale6,000$54.65$327.9KForm 4
Oct 1, 2021Maharaj Gary RPresident & CEOSale6,000$56.02$336.1KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2024Gary R. Maharaj$647.5K$3.7M97
2024Teryl L.W. Sides$446.8K$1.5M97
2024Timothy J. Arens$386.6K$1.3M97
2024Gordon S. Weber$362.0K$1.1M97
2024Charles W. Olson$362.0K$1.1M97
2023President and Chief Executive Officer$640.4K$3.5M97
2023Sr. VicePresident of Finance and Information$382.5K$1.3M97
2022President and Chief Executive Officer$620.4K$3.1M97
2022Vascular Interventions$411.1K$1.1M97
2022Technology and Chief Financial Officer$365.4K$1.0M97
2022Medical Device Coatings$347.5K$1.0M97
2022General Counsel and Secretary$347.5K$1.0M97

SEC filer profile

How SURMODICS INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARSURMODICS INC1
  • CIK0000924717
  • Employer ID (EIN)41-13561496
  • Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company6
  • Incorporated inMinnesota6
  • Fiscal year endsSeptember 301
  • Industry code (SIC)3841 Surgical & Medical Instruments & Apparatus1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business address9924 W 74Th St, Eden Prairie, MN 553441
  • Mailing address9924 West 74Th St, Eden Prairie, MN 553441
  • Phone95250070001
  • Shares outstanding14,297,623 as of Aug 1, 202514
  • Public float$401.0M as of Mar 31, 20246
  • AuditorDeloitte & Touche LLP, Minneapolis, Minnesota PCAOB ID 34; it also attests to the company’s internal control over financial reporting6
  • On EDGAR sinceDec 24, 19971
  • Filings1,595 in all: 4 (826), 8-K (233), SC 13G/A (107), 10-Q (78), 3 (47), 4/A (36), SC 13G (29), DEF 14A (27)1
    All 54 form types

    10-K (25), 5 (21), DEFA14A (19), UPLOAD (16), CORRESP (12), S-8 (12), S-8 POS (10), 8-K/A (8), SC 13D/A (7), SCHEDULE 13G/A (6), SD (6), 10QSB (5), ARS (5), 5/A (4), EFFECT (4), S-3 (4), SC TO-I/A (4), SCHEDULE 13G (4), 10-K/A (3), 10-Q/A (3), PRE 14A (3), 144 (2), 8-A12G (2), CT ORDER (2), DFAN14A (2), NT 10-Q (2), SC TO-C (2), 10KSB (1), 10KSB40 (1), 15-12G (1), 25-NSE (1), 424B3 (1), 424B4 (1), DEFM14A (1), DEFR14A (1), POS AM (1), PREC14A (1), PREM14A (1), PRER14A (1), REGDEX (1), SB-2 (1), SB-2/A (1), SC 13D (1), SC TO-I (1), SCHEDULE 13D (1), SCHEDULE 13D/A (1)

  • Latest filingsAnnual report (10-K) Nov 20, 2024
    Quarterly report (10-Q) Aug 8, 2025
    Proxy statement (DEF 14A) Dec 19, 2024
    Latest 8-K (8-K) Nov 19, 2025

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.05 par valueSRDXNasdaq Global Select Market

From the cover page of the 10-K filed Nov 20, 2024 (Section 12(b) of the Exchange Act).6

Risk factors and legal proceedings

The risks SURMODICS INC names in Item 1A of its 10-K filed Nov 20, 2024: 42 risks under these headings, as written.6

  • RISKS RELATING TO THE MERGER
  • The completion of the Merger is subject to a number of conditions, many of which are largely outside of the parties’ control, and, if these conditions are not satisfied or waived on a timely basis, the Merger Agreement may be terminated and the Merger may not be completed.
  • The Merger Agreement and the pendency or failure of the Merger could have a material adverse effect on our business, results of operations, financial condition and stock price.
  • While the Merger is pending, we will be subject to several business uncertainties and contractual restrictions that could adversely affect our business and operations.
  • We have incurred and will continue to incur substantial transaction fees and costs in connection with the Merger that could adversely affect our business and operations if the Merger is not completed.
  • The termination fee and restrictions on solicitation contained in the Merger Agreement may discourage other companies from trying to acquire us while the Merger is pending.
  • Active or future litigation against us, Parent, or the members of their respective boards could prevent or delay the completion of the Merger or result in the payment of damages following completion of the Merger or otherwise negatively affect our business and operations.
  • Uncertainty about the Merger has adversely impacted our ability to retain employees and may adversely affect the relationships between us and our customers, suppliers, distributors, business partners, vendors, landlords, service providers and other employees, whether or not the Merger is completed.
  • Actions of activist shareholders or other parties may impair our ability to consummate the Merger or otherwise negatively impact our business.
  • RISKS RELATING TO OUR BUSINESS, STRATEGY AND INDUSTRY
  • We had a net loss for our 2024 fiscal year, expect to incur net losses in the future, and may not be able return to or sustain profitability.
  • Failure of our SurVeil DCB products to obtain a meaningful market share may limit our revenue and adversely impact our operating results, balance sheet, cash flows and liquidity.
The other 32 risks
  • The loss of, or significant reduction in business from, one or more of our major customers could significantly reduce our revenue, earnings or other operating results.
  • The long-term success of our business may suffer if we are unable to maintain and expand our licensing base, including with customers who may perceive our vascular intervention products as competing with their products.
  • Our success depends on our ability to effectively develop and market our products against those of our competitors.
  • We may not be successful in implementing our vascular intervention product development and commercialization strategy.
  • We anticipate that operating expenses related to the development and direct-sale commercialization of medical device products will have an adverse impact on our near-term operating results and financial position, and they may not be effective.
  • Our credit agreement contains covenants that restrict our business and financing activities. All of our assets secure our obligations under the credit agreement and may be subject to foreclosure.
  • We may seek to prepay our borrowings under the MidCap Credit Agreement before its maturity, which would subject us to early termination fees and may lead us to raise capital on unfavorable terms.
  • Failure to successfully and profitably commercialize the Pounce™ venous thrombectomy product may limit our growth and adversely impact our operating results, balance sheet, cash flows and liquidity.
  • Our failure to enhance our management systems and controls to support our expanded operations could seriously harm our operating results and business.
  • Goodwill or other assets on our balance sheet may become impaired or require valuation reserves, which could have a material adverse effect on our operating results.
  • Our business could be adversely affected by global economic conditions.
  • We recognize revenue in accordance with complex accounting standards, and changes in estimates, circumstances, or interpretations of standards may lead to accounting adjustments. Failure to implement these standards properly might impact the effectiveness of our internal control over financial reporting or impact the reliability of our financial reporting.
  • The transfer price to Abbott of our SurVeil DCB products is denominated in Euros, which, together with our foreign operations, exposes us to certain risks related to fluctuations in U.S. dollar and foreign currency exchange rates.
  • Changes in product mix, increased manufacturing costs, and other factors could cause our product gross margin percentage to fluctuate or decline in the future.
  • RISKS RELATING TO OUR OPERATIONS AND RELIANCE ON THIRD PARTIES
  • We rely on third parties to market, distribute and sell most products incorporating our coating and device technologies.
  • A portion of our IVD business relies on distribution agreements and relationships with various third parties, and any adverse change in those relationships could result in a loss of revenue and harm that business.
  • We rely on our customers and business partners to accurately report and make payments under our agreements with them.
  • We currently have limited or no redundancy for the production of many of our products and their components, and we may lose revenue and be unable to maintain our customer relationships if we lose our production capacity.
  • We may face product liability claims related to participation in clinical trials or the use or misuse of our products.
  • Our revenue will be harmed if we experience disruptions in our supply chain.
  • We depend upon key personnel and may not be able to attract or retain qualified personnel in the future.
  • Security breaches and other disruptions could compromise our information and expose us to liability, which would cause our business and reputation to suffer.
  • RISKS RELATING TO OUR INTELLECTUAL PROPERTY
  • We may not be able to obtain, maintain or protect proprietary rights necessary for the commercialization of our technologies.
  • We may become involved in expensive and unpredictable patent litigation or other intellectual property proceedings which could result in liability for damages or impair our development and commercialization efforts.
  • If we are unable to keep our trade secrets confidential, our technology and proprietary information may be used by others to compete against us.
  • If we are unable to convince our customers to adopt our advanced generation of hydrophilic coating technologies, our royalties and license fee revenue may decrease, and the expiration of the patent family protecting this technology has and will continue to result in a reduction of the royalties and license fee revenue associated with existing license agreements.
  • If we or any of our licensees breach any of the agreements under which we have in-licensed intellectual property from others, we could be deprived of important intellectual property rights and future revenue.
  • RISKS RELATING TO CLINICAL AND REGULATORY MATTERS
  • The development of new products and enhancement of existing products requires significant research and development and regulatory approvals, which may require clinical trials, all of which may be very expensive and time-consuming and may not result in commercially viable products.
  • We cannot be sure that clinical studies of our products will be successful, or that their results will be adequate to obtain or maintain regulatory approvals.
  • Healthcare policy changes may have a material adverse effect on us.
  • Vascular intervention medical devices and other products incorporating our technologies are subject to increasing scrutiny and regulations, including extensive approval/clearance processes and manufacturing requirements. Any adverse regulatory and/or enforcement action (for us or our licensees) may materially affect our financial condition and business operations.
  • RISKS RELATING TO OUR SECURITIES
  • Our stock price has been volatile and may continue to be volatile.

Legal proceedings

See the discussion of “Litigation” in Note 2 to the consolidated financial statements in “Financial Statements and Supplementary Data” in Part II, Item 8 of this Annual Report on Form 10-K, which is incorporated herein by reference.

The opening of Item 3, Legal Proceedings.6

Sources

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  57. 57
  58. 58
  59. 59
  60. 60
  61. 61
  62. 62
  63. 63
  64. 64
  65. 65
  66. 66
  67. 67
  68. 68
  69. 69
    SEC EDGAROther events
  70. 70
  71. 71
  72. 72
  73. 73
  74. 74
  75. 75
  76. 76
    SEC EDGAROther events
  77. 77
  78. 78
  79. 79
  80. 80
  81. 81
  82. 82
  83. 83
  84. 84
  85. 85
  86. 86
  87. 87
  88. 88
  89. 89
  90. 90
  91. 91
  92. 92
  93. 93
  94. 94
  95. 95
  96. 96
  97. 97