Nevro Corp Stock Price, News & Analysis

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.