secwatch.observer — SEC 8-K summary
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Issuer:     SURMODICS INC (—)
CIK:        0000924717
Form:       8-K
Filed at:   2023-02-03T23:59:59+00:00
Accession:  0001157523-23-000165
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 2.05, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Surmodics cuts workforce 13% after FDA requests more data for SurVeil DCB; expects $1.0-1.2M charges in Q2 FY2023
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- Workforce reduction of approximately 13%; completion expected within Q2 fiscal 2023 (ends March 31, 2023).
- FDA requested additional information for SurVeil drug-coated balloon premarket approval application, delaying milestone payment.
- Expected restructuring charges of $1.0M to $1.2M in Q2 fiscal 2023 for severance, benefits, and outplacement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/924717/000115752323000165/0001157523-23-000165-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/924717/000115752323000165/a53301410.htm
  HTML page:      https://secwatch.observer/filing/0001157523-23-000165

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer