REDWOOD CITY, Calif. - Nevro Corp. (NYSE: NVRO), a global medical device company, announced a new consensus statement from the Worldwide Initiative for Diabetes Education, recommending high-frequency (10 kHz) spinal cord stimulation (SCS) for the treatment of painful diabetic neuropathy (PDN) when other therapies fail. This endorsement follows outcomes from a December 2022 panel at the WorldWIDE Diabetes Virtual Global Summit and is detailed in the journal Diabetes Research and Clinical Practice.
The consensus highlights the effectiveness of Nevro's high-frequency SCS therapy in managing PDN symptoms that are not adequately controlled by first- or second-line treatments. PDN, a common complication of type 2 diabetes, affects over half of those diagnosed with the condition, leading to numbness, tingling, and pain that can severely impact quality of life.
David Caraway, MD, Nevro's Chief Medical Officer, emphasized the significance of the guidelines, crediting the SENZA-PDN randomized controlled trial (RCT) for demonstrating the therapy's value. The SENZA-PDN trial, the largest RCT studying SCS for PDN, supported these recommendations with data showing improvements in pain relief, quality of life, sleep, and neurological function.
The statement also aligns with previous recommendations by the American Diabetes Association, the German Diabetes Association, and other international bodies, further solidifying the role of high-frequency SCS in PDN management. Nevro's 10 kHz Therapy is the only FDA-approved high-frequency, paresthesia-free SCS system for PDN treatment.
Nevro, headquartered in Redwood (NYSE:RWT) City, California, continues to innovate in chronic pain treatment with its proprietary 10 kHz Therapy and a comprehensive HFX spinal cord stimulation platform.
This news is based on a press release statement from Nevro Corp.
InvestingPro Insights
As Nevro Corp. (NYSE: NVRO) receives a nod from the Worldwide Initiative for Diabetes Education, it's crucial for investors to understand the financial health and market performance of the company. According to real-time data from InvestingPro, Nevro holds a market capitalization of $621.23 million. Despite the positive clinical outcomes and endorsements, the company's stock has been under pressure, with a notable decline of 23.05% over the last month. The InvestingPro Tips highlight that analysts have revised their earnings downwards for the upcoming period, and the company is not expected to be profitable this year.
On the balance sheet front, Nevro's position appears more reassuring, with cash reserves surpassing debt, indicating financial stability which could support ongoing and future initiatives. Moreover, the company's liquid assets exceed its short-term obligations, suggesting a solid short-term financial footing. However, with a negative P/E ratio of -5.99, investors may be cautious about the company's earning potential in the near term. The recent stock performance and analyst sentiment underscore the importance of staying informed on both clinical advancements and financial metrics.
For investors looking to dive deeper into Nevro's financials and stock performance, InvestingPro offers additional insights and tips. Currently, the InvestingPro subscription is on a special New Year sale with discounts of up to 50%. Use coupon code SFY24 to get an additional 10% off a 2-year InvestingPro+ subscription, or SFY241 to get an additional 10% off a 1-year InvestingPro+ subscription. With several more InvestingPro Tips available on the platform, investors can gain a comprehensive understanding of Nevro's market position and future outlook.
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