Welcome to our dedicated page for Nevro news (Ticker: NVRO), a resource for investors and traders seeking the latest updates and insights on Nevro stock.
Overview
Nevro Corp (NYSE: NVRO) is a global medical device company headquartered in Redwood City, California. The company is renowned for its innovative approach in the field of neuromodulation and chronic pain management, providing advanced spinal cord stimulation (SCS) systems designed to transform patient outcomes. Nevro specializes in the development and commercialization of its flagship Senza SCS system, which uniquely delivers its proprietary 10 kHz high-frequency therapy. This evidence-based treatment is implemented through a comprehensive, integrated platform aimed at alleviating chronic pain across multiple conditions.
Technology and Innovation
Nevro’s technology centers on generating electrical impulses that modulate pain signals. The Senza system, along with the broader HFX platform, is built on groundbreaking research and clinical evidence. Its design incorporates sophisticated programming and, more recently, artificial intelligence enhancements through HFX AdaptivAI. This AI-driven component harnesses big data, precise algorithms, and extensive clinical outcomes to offer personalized, real-time pain relief. As a result, patients are empowered to control their pain management in a manner that is tailored to their individual needs, reducing reliance on generalized treatments.
Product Portfolio and Market Position
The company has established a diversified portfolio that not only focuses on conventional SCS devices but also extends into minimally invasive treatments for sacroiliac (SI) joint pain and fusion procedures. By broadening its offerings, Nevro addresses various facets of chronic pain, including back pain, painful diabetic neuropathy, and SI joint dysfunction. This strategic diversification enables Nevro to maintain a unique competitive edge in a market characterized by substantial underpenetration and evolving treatment protocols.
Patient and Physician Support
An integral part of Nevro’s approach lies in its comprehensive support services. The company provides extensive educational resources and application support via programs like HFX Coach, designed to ensure that patients receive continuous guidance throughout their therapy journey. Alongside patient-centric initiatives, Nevro offers advanced, cloud-based insights for physicians, empowering them with real-time data to optimize treatment plans and enhance overall practice management.
Global Reach and Regulatory Milestones
Nevro’s neuromodulation solutions are commercially available in major markets such as the United States, Europe, and Australia. Over the years, the company has successfully achieved key regulatory approvals, including CE Mark and FDA clearance, which attest to the safety, efficacy, and scientific rigor underlying its products. These milestones have not only reinforced Nevro’s position in the global medical device arena but have also paved the way for further market penetration and adoption of its innovative therapies.
Competitive Landscape and Differentiators
Operating in a highly competitive healthcare sector, Nevro differentiates itself through an unwavering commitment to evidence-based medicine and technological innovation. Its products are developed with the dual aim of delivering consistent pain relief while also ensuring a high quality of life for patients. The use of advanced AI, coupled with extensive clinical validation, positions Nevro as an authoritative entity in chronic pain treatment options. This unique amalgamation of rigorous clinical research, technological sophistication, and robust support services sets Nevro apart from its peers in the neuromodulation industry.
Conclusion
Nevro Corp remains dedicated to advancing chronic pain management through its cutting-edge medical devices and holistic care solutions. With a focus on developing technologies that are not only innovative but also grounded in robust clinical evidence, Nevro continues to enhance patient outcomes and redefine approaches to pain management across global markets.
Nevro Corp. (NYSE: NVRO) announced that two abstracts for its Painful Diabetic Neuropathy (PDN) and Non-Surgical Back Pain (NSBP) clinical trials will be presented at the 2023 North American Neuromodulation Society Annual Meeting on January 13-14, 2023. The SENZA-PDN trial is the largest randomized controlled trial for spinal cord stimulation (SCS) in PDN, involving 216 participants, while the SENZA-NSRBP trial includes 159 participants. Additionally, 10-year real-world efficacy data on 10 kHz Therapy will also be showcased, emphasizing Nevro's commitment to chronic pain management.
Nevro Corp. (NYSE: NVRO) reported third-quarter 2022 worldwide revenue of $100.5 million, reflecting an 8% increase year-over-year. The company narrowed its full-year revenue guidance to $403 million to $407 million and raised its painful diabetic neuropathy (PDN) revenue forecast to $45 million to $47 million. U.S. trial procedures increased by 16%, with PDN trials comprising 18% of total U.S. trials. Recent FDA approvals for the HFX iQ™ system and manufacturing operations in Costa Rica are expected to drive future growth and improve operational efficiency.
Nevro Corp. (NYSE: NVRO) announced FDA approval for its Senza HFX iQ spinal cord stimulation (SCS) system, the first AI-based SCS system designed to optimize pain relief through individualized patient data. This system aims to improve long-term pain management for conditions like chronic back pain and painful diabetic neuropathy. Key features include the HFX Algorithm, which processes over 20 million data points to personalize therapy. A limited U.S. launch is planned for late 2022, with broader availability expected in early 2023. European approval submissions are also underway.
Nevro Corp. (NYSE: NVRO) announced that UnitedHealthcare updated its medical coverage policy on October 1, 2022, stating that spinal cord stimulation (SCS) devices will not be covered for chronic intractable back pain without prior spine surgery effective December 1, 2022. While the company views this as disappointing, it does not expect a material impact on revenue, estimating potential 2023 losses at low to mid-single digit millions. Nevro will continue to advocate for the approval of SCS for patients based on compelling clinical evidence from its SENZA-NSRBP trial.
Nevro Corp. (NYSE: NVRO) will release its third-quarter financial results for 2022 on November 2, 2022, after market close. A conference call to discuss these results is scheduled for the same day at 1:30 pm PT (4:30 pm ET). Investors can access the call by dialing (888) 330-2443 in the U.S. or +1 (240) 789-2728 internationally. Nevro specializes in chronic pain treatment through its proprietary 10 kHz Therapy, impacting over 80,000 patients worldwide. Interested parties can find further details on the Investor Relations section of Nevro's website.
Nevro Corp. (NYSE: NVRO) announced FDA approval for its manufacturing operations in Costa Rica, aimed at producing its spinal cord stimulation systems, including the HFX platform for chronic pain treatment. This facility, located in the Coyol Free Trade Zone, will enhance production efficiency and quality control. With a $21 million investment by year-end 2022 and approximately 100 employees, Nevro plans to start shipping products by October 2022, anticipating gross margin expansion from the high 60s% to mid-70s% within three to five years.
Nevro Corp. (NYSE: NVRO) announced that its HFX 10 kHz Therapy is the only spinal cord stimulation (SCS) method referenced in the American Association of Clinical Endocrinology's 2022 Diabetes Clinical Practice Guideline for treating painful diabetic neuropathy (PDN). This therapy is a nonpharmacological option for patients who have not responded to traditional medications. The guideline underscores the significant need for effective treatments in managing PDN, which affects a substantial number of diabetic patients, representing a market opportunity of $3.5 to $5 billion annually.
Nevro Corp. announced that Aetna has updated its spinal cord stimulation (SCS) coverage to include painful diabetic neuropathy (PDN), effective August 29, 2022. This policy change benefits approximately 22 million commercial lives. Additionally, proposed local coverage determinations from Novitas and First Coast could expand Medicare coverage for PDN, affecting around 17 million Medicare beneficiaries. Overall, this could increase coverage for PDN patients in the U.S. from 54% to approximately 66% if finalized. These advancements enhance access to Nevro's proprietary 10 kHz Therapy for chronic pain treatment.
Nevro Corp. (NYSE: NVRO), based in Redwood City, California, announced its participation in two upcoming investor conferences. On September 9, 2022, CFO Rod MacLeod will present at the Wells Fargo Healthcare Conference at 9:10 am ET in Boston, MA. The following week, on September 12, 2022, he will present at the Morgan Stanley 20th Annual Global Healthcare Conference at 9:55 am ET in New York, NY. Webcasts of both events will be available on Nevro's website. Nevro specializes in innovative solutions for chronic pain, with its proprietary 10 kHz Therapy benefiting over 80,000 patients globally.
Nevro Corp. (NVRO) reported Q2 2022 revenue of $104.2 million, marking a 2% increase year-over-year. The company experienced notable 14% growth in U.S. trial procedures. Painful Diabetic Neuropathy (PDN) contributed $11 million in revenue. However, the net loss from operations was $23.8 million, up from $15.8 million a year earlier. Nevro issued Q3 revenue guidance of $97 million to $101 million, and updated full-year guidance to $400 million to $410 million. The company reached a settlement with Boston Scientific, receiving $85 million in cash.
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