Surmodics, Inc
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
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CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
The investigation is looking into whether Surmodics, the company, made false and/or misleading statements and/or failed to disclose important information to its investors. On January 19, 2023, the company announced that it had received a letter from the FDA stating that the approval for their drug-coated balloon (DCB) product, SurVeil™, could not be approved in its current form and that additional information on biocompatibility and labeling must be provided before approval. In response to the FDA letter, the company stated that they are evaluating the issues raised and plan to meet with the FDA to determine the next steps. They also mentioned that they will be evaluating options to reduce their use of cash due to this development. As a result of this news, the company’s shares fell by over 28.3%.
