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Nevro's (NVRO) New Data Supports SCS Therapy for PDN Treatment
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Nevro Corp. (NVRO - Free Report) recently announced the publication of 24-month data from the SENZA Painful Diabetic Neuropathy (PDN) Randomized Controlled Trial (RCT) in Diabetes Research and Clinical Practice. The SENZA-PDN trial enrolled 216 patients with refractory PDN, where 142 patients were implanted with Nevro's high-frequency (10 kHz) spinal cord stimulation (SCS) system, Nevro HFX, and were followed for 24 months.
The latest publication of favorable results is expected to strengthen Nevro’s foothold in the SCS therapy business.
Significance of the Data
Per Nevro’s estimates, the number of diabetics has quadrupled in the last two decades globally, and PDN is one of its most common complications, affecting up to 25% of people with diabetes. PDN symptoms, which can significantly impact the quality of life, include numbness and tingling, among others. Patients typically manage complications with oral pain medications, but the efficacy of these medications is relatively low and can result in intolerable side effects for patients. This may lead PDN patients to suffer significantly-reduced health-related quality of life (HRQoL) and other comorbidities like sleep disorders, depression and anxiety.
However, the published 24-month data from the SENZA-PDN RCT demonstrated that patients who received a high-frequency 10 kHz SCS implant and conventional medical management (CMM) experienced durable pain relief and significant improvements in both HRQoL and sleep at 24 months post-implantation, unlike CMM alone. Additionally, most participants experienced neurological symptom improvements. The long-term data further supports 10 kHz SCS as a safe and highly-effective therapy for PDN and a therapy that establishes durable quality-of-life improvements.
Per an expert associated with the SENZA-PDN RCT, the 24-month data validates that high-frequency SCS is a viable and long-term relief solution for people with PDN. This shows promise for a condition that naturally worsens over time.
Per Nevro's management, the latest data indicating the long-term efficacy of Nevro HFX to treat people suffering from PDN worldwide is encouraging as high-frequency 10 kHz SCS demonstrated greater pain reduction and higher responder rates over time, unlike previous studies assessing traditional low-frequency systems for these patients.
Industry Prospects
Per a report by Market Data Forecast, the global SCS market was estimated to be $2207 million in 2023 and is anticipated to reach $3334 million by 2028 at a CAGR of 8.6%. Factors like rising cases of chronic and neuropathic pain and the growing adoption of SCS therapy are likely to drive the market.
Given the market potential, the publication of the latest positive data is expected to significantly boost Nevro’s business.
Recent Developments
This month, Nevro announced the launch of HFX Connect in Europe to deliver comprehensive, life-changing solutions for treating chronic pain. The company also announced the receipt of the CE mark for label expansion of the HFX SCS system to include PDN and non-surgical back pain.
The same month, Nevro reported its second-quarter 2023 results, wherein it registered a solid improvement in overall top-line results and robust domestic and international revenues. An uptick in total U.S. permanent implant procedures and U.S. trial procedures was also recorded. An improvement in U.S. PDN trial procedures was also witnessed.
Price Performance
Shares of the company have lost 60.1% in the past year compared with the industry’s 4.5% decline. The S&P 500 has witnessed a 3.8% growth in the said time frame.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Nevro carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Patterson Companies, Inc. (PDCO - Free Report) , HealthEquity, Inc. (HQY - Free Report) and McKesson Corporation (MCK - Free Report) .
Patterson Companies, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 9.2%. PDCO’s earnings surpassed estimates in three of the trailing four quarters and missed once, with an average surprise of 4.5%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Patterson Companies has gained 12.9% compared with the industry’s 8.9% rise over the past year.
HealthEquity, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 22%. HQY’s earnings surpassed estimates in three of the trailing four quarters and missed once, with an average of 9.1%.
HealthEquity has gained 8.8% against the industry’s 16.3% decline over the past year.
McKesson, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 10.7%. MCK’s earnings surpassed estimates in three of the trailing four quarters and missed once, the average surprise being 8.1%.
McKesson has gained 12.4% compared with the industry’s 8.9% rise over the past year.
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Nevro's (NVRO) New Data Supports SCS Therapy for PDN Treatment
Nevro Corp. (NVRO - Free Report) recently announced the publication of 24-month data from the SENZA Painful Diabetic Neuropathy (PDN) Randomized Controlled Trial (RCT) in Diabetes Research and Clinical Practice. The SENZA-PDN trial enrolled 216 patients with refractory PDN, where 142 patients were implanted with Nevro's high-frequency (10 kHz) spinal cord stimulation (SCS) system, Nevro HFX, and were followed for 24 months.
The latest publication of favorable results is expected to strengthen Nevro’s foothold in the SCS therapy business.
Significance of the Data
Per Nevro’s estimates, the number of diabetics has quadrupled in the last two decades globally, and PDN is one of its most common complications, affecting up to 25% of people with diabetes. PDN symptoms, which can significantly impact the quality of life, include numbness and tingling, among others. Patients typically manage complications with oral pain medications, but the efficacy of these medications is relatively low and can result in intolerable side effects for patients. This may lead PDN patients to suffer significantly-reduced health-related quality of life (HRQoL) and other comorbidities like sleep disorders, depression and anxiety.
However, the published 24-month data from the SENZA-PDN RCT demonstrated that patients who received a high-frequency 10 kHz SCS implant and conventional medical management (CMM) experienced durable pain relief and significant improvements in both HRQoL and sleep at 24 months post-implantation, unlike CMM alone. Additionally, most participants experienced neurological symptom improvements. The long-term data further supports 10 kHz SCS as a safe and highly-effective therapy for PDN and a therapy that establishes durable quality-of-life improvements.
Per an expert associated with the SENZA-PDN RCT, the 24-month data validates that high-frequency SCS is a viable and long-term relief solution for people with PDN. This shows promise for a condition that naturally worsens over time.
Per Nevro's management, the latest data indicating the long-term efficacy of Nevro HFX to treat people suffering from PDN worldwide is encouraging as high-frequency 10 kHz SCS demonstrated greater pain reduction and higher responder rates over time, unlike previous studies assessing traditional low-frequency systems for these patients.
Industry Prospects
Per a report by Market Data Forecast, the global SCS market was estimated to be $2207 million in 2023 and is anticipated to reach $3334 million by 2028 at a CAGR of 8.6%. Factors like rising cases of chronic and neuropathic pain and the growing adoption of SCS therapy are likely to drive the market.
Given the market potential, the publication of the latest positive data is expected to significantly boost Nevro’s business.
Recent Developments
This month, Nevro announced the launch of HFX Connect in Europe to deliver comprehensive, life-changing solutions for treating chronic pain. The company also announced the receipt of the CE mark for label expansion of the HFX SCS system to include PDN and non-surgical back pain.
The same month, Nevro reported its second-quarter 2023 results, wherein it registered a solid improvement in overall top-line results and robust domestic and international revenues. An uptick in total U.S. permanent implant procedures and U.S. trial procedures was also recorded. An improvement in U.S. PDN trial procedures was also witnessed.
Price Performance
Shares of the company have lost 60.1% in the past year compared with the industry’s 4.5% decline. The S&P 500 has witnessed a 3.8% growth in the said time frame.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Nevro carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Patterson Companies, Inc. (PDCO - Free Report) , HealthEquity, Inc. (HQY - Free Report) and McKesson Corporation (MCK - Free Report) .
Patterson Companies, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 9.2%. PDCO’s earnings surpassed estimates in three of the trailing four quarters and missed once, with an average surprise of 4.5%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Patterson Companies has gained 12.9% compared with the industry’s 8.9% rise over the past year.
HealthEquity, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 22%. HQY’s earnings surpassed estimates in three of the trailing four quarters and missed once, with an average of 9.1%.
HealthEquity has gained 8.8% against the industry’s 16.3% decline over the past year.
McKesson, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 10.7%. MCK’s earnings surpassed estimates in three of the trailing four quarters and missed once, the average surprise being 8.1%.
McKesson has gained 12.4% compared with the industry’s 8.9% rise over the past year.