SurModics hosted its first earnings call since naming a new CEO in December and resolving a brief standoff with activist shareholder, Ramius LLC. The loss was expected, and the earnings call instead centered on the newly appointed CEO Gary Maharaj, who spoke about a need to identify and refocus on the company's efforts on a "well-defined core." What exactly that core is, however, is yet to be defined.
I guess SurModics Inc. (NASDAQ:SRDX) just responded. Just a day after the company based in Eden Prairie, Minnesota, said it would formally respond to Ramius LLC's efforts to name three people to its board of directors, SurModics announced late Tuesday it had named a new CEO and would explore a sale of its pharmaceuticals business.
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.