CVRx is one of the best performing stocks out of Minnesota
04 Jan 2024
Financial Statement
With a 71% return in 2023, CVRx was No. 4 among the Minnesota “Fantastic Four” stocks, according to an analysis in the Star Tribune of Minneapolis. For comparison, the S&P 500 was up 24%.
The maker of the Barostim neuromodulation system saw its stock rally strongly near the end of December after the FDA approved an expanded label for the implantable system, which delivers electrical pulses to baroreceptors in the carotid artery wall to reduce heart failure systems.
CVRx said at the time of the approval that new long-term safety and efficacy data, commercial experience, and a new reimbursement assignment for Barostim would boost its market opportunity to $2.2 billion and 76,000 new patients, up from the previous estimate of $1.4 billion and 55,000 new patients.
CVRx’s revenue was up 83% to nearly $28 million during the first nine months of 2023, according to its third-quarter earnings report released in October. At the time, the company said it expected full-year revenue of $38.5–39.0 million.
The Star Tribune report also included Proto Labs (NYSE: PRLB) at No. 8 with a 53% return. The quick-turn digital manufacturer counts medical device companies among its customers.
For more details,please visit the original website
The content of the article does not represent any opinions of Synapse and its affiliated companies. If there is any copyright infringement or error, please contact us, and we will deal with it within 24 hours.
Organizations
Indications
Targets
-Drugs
-Chat with Hiro
Hot reports
Get started for free today!
Accelerate Strategic R&D decision making with Synapse, PatSnap’s AI-powered Connected Innovation Intelligence Platform Built for Life Sciences Professionals.
Start your data trial now!
Synapse data is also accessible to external entities via APIs or data packages. Empower better decisions with the latest in pharmaceutical intelligence.