MINNEAPOLIS, Oct. 15, 2024 (GLOBE NEWSWIRE) -- CVRx, Inc. (NASDAQ: CVRX) ("CVRx"), a commercial-stage medical device company focused on developing, manufacturing and commercializing Barostim™, an innovative extravascular implantable neuromodulation device for patients with cardiovascular diseases, today announced that it plans to release third quarter 2024 financial and operating results after market close on Tuesday, October 29, 2024. The Company will host a conference call to review its results at 4:30pm ...

CVRx (CVRX) recently announced the publication of new data supporting its Barostim technology for treating heart failure. The data was published in the Journal of the American College of Cardiology: Heart Failure. The publication builds on the data from the BeAT-HF trial published in 2024 in the European Journal of Heart Failure, demonstrating the long-term sustained symptomatic benefits of Barostim in heart failure patients with reduced ejection fraction. Shares of CVRX gained 3.2% on Friday on the announc ...

MINNEAPOLIS, Sept. 03, 2024 (GLOBE NEWSWIRE) -- CVRx, Inc. (NASDAQ: CVRX) ("CVRx"), a commercial-stage medical device company, today announced the appointments of Kevin Ballinger and Mitch Hill to its Board of Directors, effective immediately. The Company also announced that long-serving board member Ali Behbahani will be leaving the board. Following these changes, the Company's Board of Directors consists of seven members. "We are thrilled to welcome Kevin and Mitch to our Board of Directors," said Kevin H ...

NEW YORK, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of CVRx, Inc. ("CVRx" or "the Company") (NASDAQ: CVRX). Investors who purchased CVRx securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/CVRX. Investigation Details On July 10, 2024, the Centers for Medicare and Medicaid Services ("CMS") issued proposed payment rates for outpa ...

NEW YORK, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against CVRx, Inc. ("CVRx" or the "Company") (NASDADQ: CVRX) on behalf of CVRx stockholders. Our investigation concerns whether CVRx has violated the federal securities laws and/or engaged in other unlawful business practices. Click here to participate in the action. The investigation focuses on whether the Company issued false and/or misleading stat ...

Revenue Performance - Revenue for the three months ended June 30, 2024, was $11.8 million, an increase of $2.3 million, or 24%, compared to the same period in 2023[87]. - U.S. sales accounted for $10.7 million, representing a 29% increase from $8.3 million in the prior year[88]. - Total revenue for the six months ended June 30, 2024, was $22.6 million, an increase of $5.1 million, or 29%, compared to the same period in 2023[95]. - Revenue in the U.S. for the six months ended June 30, 2024, was $20.5 million, an increase of $5.3 million, or 35%, over the same period in 2023[96]. - Total revenue units in the U.S. increased to 339 for the three months ended June 30, 2024, up from 265 in the prior year[89]. Gross Profit and Margin - Gross margin remained stable at 84% for both periods, with gross profit increasing to $9.9 million from $8.0 million[87]. - Gross profit for the three months ended June 30, 2024, was $9.9 million, an increase of $1.9 million, or 24%, over the same period in 2023, with a gross margin of 84%[90]. Operating Expenses - Total operating expenses increased by 21% to $23.9 million, driven by a 28% rise in selling, general, and administrative expenses[87]. - SG&A expenses increased by $4.7 million, or 28%, to $21.1 million for the three months ended June 30, 2024, primarily due to increased compensation expenses[91]. - Research and development expenses decreased by 16% to $2.8 million, reflecting ongoing optimization efforts[87]. - R&D expenses decreased by $0.5 million, or 16%, to $2.8 million for the three months ended June 30, 2024, compared to the same period in 2023[91]. Net Loss - The company expects to continue incurring net losses, with a net loss of $14.0 million for the three months ended June 30, 2024, compared to $11.7 million in the same period last year[87]. - Net loss for the six months ended June 30, 2024, was $36.2 million, compared to a net loss of $23.0 million for the same period in 2023[99]. Cash and Financing Activities - As of June 30, 2024, the company had $70.4 million in cash and cash equivalents, down from $90.6 million as of December 31, 2023[99]. - Net cash used in operating activities for the six months ended June 30, 2024 was $20.7 million, primarily due to a net loss of $36.2 million, offset by a non-cash charge of $13.7 million related to stock-based compensation[103]. - Cash used in investing activities was $1.3 million for the six months ended June 30, 2024, compared to $0.4 million for the same period in 2023, indicating increased investment in property and equipment[104]. - Net cash provided by financing activities for the six months ended June 30, 2024 was $1.8 million, consisting of $0.9 million from stock options, $0.5 million from the ATM offering, and $0.4 million from the ESPP[104]. - The company reported a net change in cash and cash equivalents of $(20.2) million for the six months ended June 30, 2024, compared to $(15.4) million for the same period in 2023[102]. - The company believes existing cash resources and a Loan Agreement will be sufficient for operating liquidity and capital expenditures for at least the next three years[101]. Strategic Initiatives - The company plans to expand its U.S. sales force and increase awareness of Barostim among physicians and patients to drive future revenue growth[67]. - The reimbursement strategy includes broadening current coverage and building an in-house market access team to secure prior authorization approvals[69]. - The company has hired new leaders across various departments to enhance its operational capabilities and support growth initiatives[75]. Other Financial Information - Interest expense increased by $0.5 million for the three months ended June 30, 2024, driven by borrowings under a Loan Agreement[92]. - The company entered into an Equity Distribution Agreement with Piper Sandler for an ATM offering with an aggregate price of up to $50.0 million, issuing 23,364 shares for gross proceeds of $0.6 million during the six months ended June 30, 2024, leaving approximately $49.4 million capacity remaining[101]. - There have been no material changes to the company's contractual obligations as of June 30, 2024, compared to the previous year[106]. - The company has not engaged in foreign currency hedging transactions, and foreign currency transaction gains and losses have not been material to its financial statements[111]. - The company has elected to use an extended transition period under the JOBS Act for compliance with new accounting standards, which may affect comparability with other public companies[108]. - The company is not currently a party to any material legal proceedings[116].

MINNEAPOLIS, Aug. 02, 2024 (GLOBE NEWSWIRE) -- CVRx, Inc. (NASDAQ: CVRX) ("CVRx"), a commercial-stage medical device company, announced today that Centers for Medicare and Medicaid Services (CMS) has reassigned the Barostim implant procedure for the inpatient setting as part of the Fiscal Year (FY) 2025 Medicare Hospital Inpatient Prospective Payment System (IPPS) final rule. In FY 2024, Barostim was assigned to MS-DRGs 252, 253, 254 with a national average payment range of $17,000-$23,000. For FY 2025, Bar ...

MINNEAPOLIS, Aug. 02, 2024 (GLOBE NEWSWIRE) -- CVRx, Inc. (NASDAQ: CVRX) ("CVRx"), a commercial-stage medical device company, announced today that Centers for Medicare and Medicaid Services (CMS) has reassigned the Barostim implant procedure for the inpatient setting as part of the Fiscal Year (FY) 2025 Medicare Hospital Inpatient Prospective Payment System (IPPS) final rule. In FY 2024, Barostim was assigned to MS-DRGs 252, 253, 254 with a national average payment range of $17,000-$23,000. For FY 2025, Bar ...

MINNEAPOLIS, July 31, 2024 (GLOBE NEWSWIRE) -- CVRx, Inc. (NASDAQ: CVRX) ("CVRx"), a commercial-stage medical device company, today announced that the management team will present at the Canaccord Genuity 44th Annual Growth Conference on Wednesday, August 14, 2024. The Company is scheduled to present at 12:30 PM Eastern Time the same day via webcast. A live audio webcast of the conference presentation will be available online at the investor relations page of the Company's website at ir.cvrx.com. About CVRx ...

MINNEAPOLIS, July 31, 2024 (GLOBE NEWSWIRE) -- CVRx, Inc. (NASDAQ: CVRX) ("CVRx"), a commercial-stage medical device company, today announced that the management team will present at the Canaccord Genuity 44th Annual Growth Conference on Wednesday, August 14, 2024. The Company is scheduled to present at 12:30 PM Eastern Time the same day via webcast. A live audio webcast of the conference presentation will be available online at the investor relations page of the Company's website at ir.cvrx.com. About CVRx ...