ARTICLE | Company News

SurModics, Ramius LLC dermatology, drug delivery news

November 22, 2010 8:00 AM UTC

Ramius announced it now owns 12% of the outstanding shares of SurModics and nominated three nominees to the company's board. In a letter delivered to the company, Ramius said SurModics' stock has underperformed the market due to poor operating performance driven by "failed growth investments, failed acquisitions and excessive spending." ...