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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. announced the appointment of Jon Shear as the new Vice President of Corporate Development, effective immediately. Shear, who has extensive experience in the medical technologies sector, will lead Nevro's strategic planning and business development initiatives. He previously founded Westward Medtech and held significant roles at Thoratec Corporation and St. Jude Medical. This leadership change may enhance Nevro's strategic alignment and long-term growth trajectory, critical for improving shareholder value.
On April 13, 2021, Nevro Corp. (NYSE: NVRO), a leader in innovative solutions for chronic pain treatment, announced that Keith Grossman, Chairman and CEO, will present at the BofA Securities 2021 Virtual Health Care Conference on May 11, 2021, at 2:00 PM ET. A live webcast will be available on Nevro's website, alongside archived recordings for investors. Nevro is renowned for its Senza spinal cord stimulation systems, which utilize HF10 therapy to significantly reduce opioid dependency in patients.
Nevro Corp. (NYSE: NVRO) will report its financial results for Q1 2021 after the market closes on May 5, 2021. A conference call is scheduled for the same day at 1:30 PM PT to discuss the results. Investors can join the call by dialing (833) 968-2321 in the U.S. or +1 (778) 560-2840 internationally. Nevro focuses on innovative solutions for chronic pain, with its Senza spinal cord stimulation system showing the potential to reduce opioid use in over 65% of patients. For more information, visit www.nevro.com.
Nevro Corp. (NYSE: NVRO) announced the publication of the SENZA-PDN clinical trial results in JAMA Neurology. This trial evaluated the use of the Senza® System for treating chronic pain associated with Painful Diabetic Neuropathy (PDN), potentially becoming the first FDA-approved spinal cord stimulation (SCS) system specifically for PDN. The trial showed significant pain relief for 85% of patients using high-frequency (10 kHz) SCS compared to 5% in the control group. The FDA review is expected to take six months, with a potential launch planned for the second half of 2021.
Nevro Corp. (NYSE: NVRO) reported a fourth quarter 2020 revenue of $109.7 million, down 4% year-over-year, with a net loss from operations of $0.9 million. Worldwide revenue for 2020 reached $362.0 million, a 7% decrease from 2019. For 2021, the company expects revenue of $430 million to $450 million amid ongoing COVID-19 related challenges and plans to launch treatments for Painful Diabetic Neuropathy. Despite obstacles, Nevro anticipates a return to growth as pandemic conditions improve and elective procedures resume.
Nevro Corp. (NYSE: NVRO), a leader in chronic pain treatment, announced that D. Keith Grossman, Chairman and CEO, will present at the 10th Annual SVB Leerink Global Healthcare Conference on February 26, 2021, at 10:40 AM ET. A live webcast and archived recording of the presentation will be available on Nevro's website. The company is known for its innovative Senza spinal cord stimulation system, which has shown efficacy in reducing opioid dependency in chronic pain patients.
Nevro Corp. (NYSE: NVRO) announced that D. Keith Grossman, Chairman and CEO, will present at Citi's 2021 Healthcare Services, Medtech, Tools, & HCIT Virtual Conference on February 25, 2021, at 1:30 PM ET / 10:30 AM PT. The event will be accessible via a live webcast on Nevro's website, where an archived recording will also be available.
Nevro, based in Redwood City, California, specializes in innovative solutions for chronic pain treatment, particularly through its proprietary HF10 therapy, proven to reduce or eliminate opioids in over 65% of patients.
Nevro Corp. (NVRO), a medical device company, will report its fourth quarter and full-year financial results for 2020 on February 24, 2021, after market close. The conference call for discussing these results is scheduled for 1:30 PM PT/4:30 PM ET on the same day. Interested investors can join by dialing the provided numbers and using Conference ID 1353779. Nevro focuses on innovative chronic pain solutions, notably the Senza spinal cord stimulation system, which has shown efficacy in reducing opioid usage among patients.
Nevro Corp. (NYSE: NVRO) announced promising results from its HF10 therapy for chronic pain at the 2021 North American Neuromodulation Society (NANS) Virtual Meeting, held January 14-16. The SENZA-PDN trial, with 216 randomized subjects, demonstrated significant pain relief in Diabetic Neuropathy patients over 6 months. The SENZA-NSRBP trial showed superior outcomes in Non-Surgical Refractory Back Pain patients after 3 months. The data supports a PMA supplement submission to the FDA for U.S. launch activities in the second half of 2021, marking a significant advancement in the treatment of chronic pain.
Nevro Corp. (NYSE: NVRO) announced significant data presentations for its HF10® therapy at the 2021 North American Neuromodulation Society (NANS) Virtual Meeting.
The company will present 20 abstracts, including late-breaking results from the SENZA-PDN and SENZA-NSRBP trials. The SENZA-PDN trial is the largest of its kind, featuring 216 subjects. If approved, this could offer innovative treatment options for patients with chronic pain who have not found relief with traditional methods.
Nevro will also host an investor briefing on January 15, 2021, to discuss business updates.
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