Surmodics (NASDAQ:SRDX) has completed the enrollment of 446 subjects in its TRANSCEND study comparing its SurVeil drug-coated balloon (DCB) to Medtronic’s (NYSE:MDT) IN.PACT Admiral DCB in patients with peripheral artery disease.
The milestone triggers a $10M payment from exclusive global licensee Abbott (NYSE:ABT).
The primary endpoints are safety and primary lesion patency at month 12. The estimated primary completion date is April 2020.
Updated 2019 guidance: Revenue: $97M – 99M from $92M – 94M; EPS: $0.52 – 0.60 from $0.24 – 0.32; non-GAAP EPS: $0.69 – 0.77 from $0.41 – 0.49.
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