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Nevro Corp. (NYSE: NVRO), headquartered in Redwood City, California, is a pioneering global medical device company dedicated to improving the lives of patients suffering from chronic pain through innovative products. The company's flagship product, the Senza® Spinal Cord Stimulation (SCS) System, is an evidence-based neuromodulation platform designed to treat chronic pain. This system features Nevro's proprietary HF10 therapy, which is known for its high-frequency, paresthesia-free stimulation, approved by the FDA in 2015, and commercially available in the U.S., Europe, and Australia.
Nevro's comprehensive product portfolio includes the HFX™ Spinal Cord Stimulation (SCS) Platform, comprising Senza®, Senza II®, Senza Omnia®, and HFX iQ™ systems. These devices offer patients a non-pharmacologic solution to manage chronic pain and painful diabetic neuropathy, providing sustainable pain relief and improved quality of life. The HFX platform also includes support services such as HFX Coach™ for patients and HFX Cloud™ for physicians, ensuring enhanced patient management and outcomes.
In November 2023, Nevro expanded its portfolio by acquiring Vyrsa Technologies, a company specializing in minimally invasive sacroiliac joint (SI joint) fusion devices. This strategic move allows Nevro to address a broader range of chronic pain conditions, particularly chronic SI joint pain. Vyrsa's innovative implants and proprietary technologies complement Nevro's existing offerings, positioning the company for significant market penetration and growth.
Financially, Nevro has shown resilience and adaptability. For the full year of 2023, the company reported worldwide revenues of $425.2 million, reflecting a 5% increase from the previous year. Despite challenges, Nevro's solid performance is attributed to its continuous focus on commercial execution, market penetration, and profitability. The company recently secured a $200 million term loan credit facility to refinance its 2025 convertible notes and ensure long-term financial stability.
Nevro's commitment to innovation is further evidenced by the recent FDA clearance of its sacroiliac joint fusion device, Nevro1, which is designed to enhance the stability and fusion of the SI joint using proprietary transfixing technology and bone-growth enhancing materials. This product, alongside the existing portfolio, reinforces Nevro's leadership in the chronic pain management market.
The company also maintains strong strategic partnerships and collaborations, ensuring that its solutions reach a wide patient base. Recent policy updates, such as the expansion of coverage for spinal cord stimulation for painful diabetic neuropathy by Carelon Healthcare, have significantly increased access to Nevro's therapies, benefiting millions of patients across the United States.
Going forward, Nevro remains dedicated to its mission of delivering life-changing solutions for chronic pain, continuously advancing its product offerings, and maintaining its commitment to improving patient outcomes globally.
Nevro Corp. (NYSE: NVRO) has published new data demonstrating the advantages of its Nevro1™ SI Joint Fusion System compared to other approaches. The study, published in Medical Devices: Evidence and Research, shows that Nevro1, a posterior integrated transfixation cage system, offers enhanced stability, minimized bone removal, and increased fusion potential versus posterolateral cylindrical threaded single-implant systems. The research revealed that Nevro1 and lateral triangular rods produced equivalent motion reduction, while providing the most surface area for fusion, enabling better SI joint arthrodesis opportunities.
Nevro Corp. (NYSE: NVRO) has granted inducement restricted stock unit awards to 24 new non-executive employees. The awards, covering 37,726 shares of Nevro's common stock, were granted on November 7, 2024, under the company's 2023 Inducement Award Plan. These grants, approved by the Compensation Committee of Nevro's Board of Directors, will vest over a three-year period, contingent on continued employment. The awards were issued in accordance with NYSE Listed Company Manual Rule 303A.08 as material inducements to employment.
Nevro Corp. (NYSE: NVRO) has received CE Mark Certification in Europe for its HFX iQ™ spinal cord stimulation (SCS) system, enabling marketing in all CE-recognizing countries. HFX iQ is the first SCS system with AI technology combining high-frequency therapy with cloud data insights for personalized pain relief. The system features indication-specific algorithms, customized therapy adjustments through the HFX App, and the only 10 kHz Therapy with CE-marked labeling for all major SCS indications. Market launch in select European countries is planned for Q1 2025. The system previously received FDA approval in 2022.
Nevro Corp. (NYSE: NVRO) reported Q3 2024 financial results with worldwide revenue of $96.9 million, down 6.7% year-over-year. U.S. revenue decreased 6.5% to $83.9 million, while international revenue fell 7.7% to $13.0 million. The company reported a net loss from operations of $13.9 million and negative adjusted EBITDA of $1.8 million. Despite challenges, Nevro maintained its full-year 2024 revenue guidance of $400-405 million and raised its adjusted EBITDA guidance to negative $18-16 million. The company announced the release of HFX AdaptivAI and received regulatory approval for HFX iQ in Europe.
Nevro Corp. (NYSE: NVRO) published new data showing significant improvements in patients with painful diabetic neuropathy (PDN) and Type 2 diabetes using their 10 kHz high-frequency spinal cord stimulation therapy. The 24-month study of 144 patients demonstrated a 79.8% mean pain reduction and notable improvements in multiple health metrics. Patients with high HbA1c levels achieved reductions of up to 1.1%, while those with higher BMI experienced weight loss up to 5.4 kg. The study also showed a 65.2% improvement in sleep quality, marking the first SCS study to demonstrate long-term, significant reductions in HbA1c and weight for PDN patients.
Nevro Corp. (NYSE: NVRO), a global medical device company specializing in chronic pain treatment solutions, has announced new employee inducement grants. On October 7, 2024, the company's Compensation Committee granted restricted stock unit awards covering 26,088 shares of Nevro's common stock to five new non-executive employees. These awards, granted under the Nevro Corp. 2023 Inducement Award Plan, are designed to induce the recipients to accept employment with Nevro.
The awards vest over a three-year period, contingent on continued employment with Nevro through each vesting date. These grants were made in accordance with the NYSE Listed Company Manual Rule 303A.08 as material inducements to employment. Nevro also encourages investors to regularly check their website's 'Investor Relations' section for important company information.
Nevro Corp. (NYSE: NVRO) has announced the FDA approval and market release of HFX iQ™ with HFX AdaptivAI™, an AI-driven spinal cord stimulation (SCS) system for chronic pain management. This technology leverages insights from over 100,000 patients and more than 100 million data points to provide personalized, responsive pain relief in real time.
Key features of HFX AdaptivAI include:
- Continuous therapy optimization
- Bipole Interlacing™ for customized programs
- Smart Power technology for reduced charging frequency
- Real-time quality of life metrics and device data collection
- Advanced proactive remote monitoring for physicians
Nevro expects a full market release in the U.S. in Q4 2024, positioning itself as a leader in data-driven pain management solutions.
Nevro Corp. (NYSE: NVRO), a global medical device company focused on chronic pain treatment, has announced the granting of inducement restricted stock unit awards to 21 new non-executive employees. The awards, covering 51,543 shares of Nevro's common stock, were granted on September 7, 2024, by the Compensation Committee of the Company's Board of Directors.
These awards, granted under the Nevro Corp. 2023 Inducement Award Plan, are designed to induce the new employees to accept employment with Nevro. Each award vests over a three-year period, contingent on continued employment with Nevro through each vesting date. The grants were made in accordance with the NYSE Listed Company Manual Rule 303A.08 as a material inducement to employment.
Nevro Corp. (NYSE: NVRO), a global medical device company focused on chronic pain treatment solutions, has announced its participation in the Wells Fargo 2024 Healthcare Conference. The company's management team will engage in a 'fireside chat' session on Friday, September 6, 2024, at 8:45 a.m. EDT.
Investors and interested parties can access a live webcast of the session, as well as a replay, through the Events and Presentations page in the Investors section of Nevro's website. The company regularly posts important investor information on its website and encourages stakeholders to consult it for updates.
Nevro Corp. (NYSE: NVRO), a global medical device company focused on chronic pain treatment solutions, has announced new employee inducement grants. On August 7, 2024, the company's Compensation Committee granted restricted stock unit awards covering 10,199 shares of Nevro's common stock to four new non-executive employees. These awards, granted under the Nevro Corp. 2023 Inducement Award Plan, are designed to incentivize new hires and will vest over a three-year period, contingent on continued employment. The grants comply with NYSE Listed Company Manual Rule 303A.08, which allows for inducement awards to attract new talent. Nevro also emphasized its practice of posting important investor information on its website.
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