Shares in Nevro Corp. (NYSE:NVRO) rose today after the medical device maker beat revenue expectations, despite falling short in earnings per share with its 4th quarter earnings results. The Redwood City, Calif.-based company posted losses of $9.8 million, or 34¢ per share, on sales of $70.5 million for the 3 months ended December 31. That equates […]
Nevro Corp.
Boston Scientific fires neuromod patent infringement suit at Nevro in ongoing spat
Nevro Corp. (NYSE:NVRO) said last Friday that it received notice that Boston Scientific (NYSE:BSX) and its Neuromodulation division have filed a patent infringement suit against Nevro. The suit, filed in The United States District Court for the District of Delaware, claims Nevro’s Senza neuromodulation system infringes upon Boston Scientific patents covering stimulation leads, batteries and telemetry unit. Boston Scientific […]
Back to court: Nevro files new patent infringement suit against Boston Scientific
Nevro Corp. (NYSE:NVRO) said today it filed a patent infringement suit against Boston Scientific (NYSE:BSX), asserting that the company infringed on patents related to its Senza and HF10 spinal cord stimulation systems. The suit, filed in the United States District Court for the Northern District of California, is seeking preliminary and permanent injunctive relief against further infringement, […]
Nevro touts 2-year data on Senza spinal cord stim
Nevro Corp. (NYSE:NVRO) today released 2-year results from Senza-RCT study of its HF10 spinal cord stimulation system, touting superior results over low-frequency SCS therapy treatments. The Redwood City, Calif.-based company said results from the study were published in the journal Neurosurgery. Nevro said the trial is the largest prospective randomized trial of SCS systems and the […]
Nevro losses shrink, sales explode in Q2
Nevro Corp. (NYSE:NVRO) saw shares soar after reporting a significant 2nd quarter yesterday, with losses shrinking by more than 50% while sales exploded nearly 400%, causing the company to lift its guidance for the full year. The Redwood City, Calif.-based company reported losses of $8.8 million, or 31¢ per share, on sales of $55.4 million for the 3 months […]
Nevro takes a hit after insurers deem Senza therapy experimental
Shares in Nevro (NYSE:NVRO) took a hit yesterday after investors learned that a pair of insurers in Pennsylvania and Tennessee tagged therapy using its Senza spinal cord stimulation device as experimental. The Senza device, which won an FDA nod in May 2015, is designed to deliver high-frequency electrical impulses of up to 10,000Hz to the spinal cord to avoid the […]
Nevro closes over-subscribed $173m round
Nevro Corp. (NYSE:NVRO) said Monday it closed a $172.5 million round of financing, including a fully-exercised underwriter’s over-allotment option, through the sale of 1.75% convertible senior notes due 2021. Funds raised in the round are slated to be used to pay for the net cost of convertible note hedge and warrant transactions from the offering, with […]
Nevro prices $150m offering
Nevro Corp. (NYSE:NVRO) today released pricing information for a new public offering, expecting to bring in $150 million, with another $22.5 million possible through a 30-day underwriters option. The numbers for the offering are up from yesterday, when Nevro announced the round, expecting to bring in $125 million. Money will be raised through the sale of convertible […]
Nevro announces $125m funding round
Nevro Corp. (NYSE:NVRO) today revealed a $125 million round of financing through the sale of convertible senior notes, due 2021, to support repayment of a term loan agreement, general corporate purposes and continued commercialization of its Senza spinal cord stimulation system. The offering will include a 30-day underwriters option to purchase an additional $18.8 million aggregate […]
FDA approves new leads for Nevro’s Senza spinal cord stimulator
Nevro Corp. (NYSE:NVRO) said it won pre-market approval from the FDA for new surgical leads designed to be used with its Senza spinal cord stimulation device. The Senza device, which won an FDA nod in May 2015, is designed to deliver high-frequency electrical impulses of up to 10,000Hz to the spinal cord to avoid the tingling sensation […]
Nevro promotes prez Elghandour to replace CEO DeMane | Personnel Moves
Nevro Corp. (NYSE:NVRO) this week promoted president Rami Elghandour to be its new CEO, as chief executive Michael DeMane moves to the executive chairman spot. DeMane, the former COO at Medtronic, will keep an active role in Nevro, which he joined in 2011 after a quickly aborted stint at the head of Lanx. He’s due to […]