24/7 Market News Snapshot 11 November, 2024 – NEVRO CORP. (NYSE:NVRO)

November 11, 2024

DENVER, Colo., 11 November, 2024 (247marketnews.com) – (NYSE:NVRO) are discussed in this article.
Nevro Corp has recently experienced a remarkable uptick in its stock performance, with an increase of 28.64%, bringing its trading price to $6.535 after opening at $5.14. This surge is underscored by robust trading activity, reaching 1.01 million shares, which reflects strong investor interest and confidence in the company’s strategic direction. As market participants monitor this bullish trend, Nevro’s stock could signal significant potential for future growth.

In conjunction with this positive market movement, Nevro announced its third-quarter financial results, reaffirming revenue guidance for the full year 2024 while also enhancing its adjusted EBITDA expectations. The company reported worldwide revenues of $96.9 million for the third quarter, a decline compared to the previous year but indicative of ongoing restructuring efforts aimed at strengthening its cash position.

CEO Kevin Thornal emphasized the firm’s dedication to navigating market complexities and improving its commercial strategies, specifically through innovative marketing approaches. A notable highlight is the upcoming limited market launch of HFX AdaptivAI™, an advanced AI-driven spinal cord stimulation technology designed to provide personalized pain relief in real-time. The full market introduction is set for the end of November, with the HFX iQ system expected to debut in selected European markets, paving the way for expanded availability by 2025.

In addition, recent findings published in the Journal of Pain Research have demonstrated the efficacy of Nevro’s 10kHz high-frequency spinal cord stimulation therapy for patients with painful diabetic neuropathy, exemplifying the company’s commitment to delivering transformative pain management solutions.

With a healthy cash position of $277 million as of September 30, 2024, Nevro is well-positioned to pursue growth opportunities while diversifying its product offerings, aiming to enhance shareholder value. The company anticipates full-year revenues to fall between $400 million and $405 million, with a significant upward adjustment to its EBITDA projections.

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