CVRx, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 26, 2023 at 04:15 pm
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CVRx, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 10.51 million compared to USD 6.19 million a year ago. Net loss was USD 9.01 million compared to USD 9.83 million a year ago. Basic loss per share from continuing operations was USD 0.43 compared to USD 0.48 a year ago.
For the nine months, sales was USD 27.99 million compared to USD 15.29 million a year ago. Net loss was USD 32.04 million compared to USD 30.89 million a year ago. Basic loss per share from continuing operations was USD 1.55 compared to USD 1.51 a year ago.
CVRx, Inc. is a commercial-stage medical device company. The Company is focused on developing, manufacturing and commercializing advanced neuromodulation solutions for patients with cardiovascular diseases. The Company's integrated platform technology, Barostim, is designed to leverage the power of the brain and nervous system to address the imbalance of the autonomic nervous system (ANS), which causes heart failure with reduced ejection fraction (HFrEF) and other cardiovascular diseases. Barostim provides Baroreflex Activation Therapy (BAT) by sending imperceptible and persistent electrical pulses to baroreceptors located in the wall of the carotid artery to signal the brain to modulate cardiovascular function. Barostim is a minimally invasive neuromodulation device that consists of two implantable components, an implantable pulse generator (IPG) and a stimulation lead, and is programed by a wireless clinician-controlled programmer that communicates with the IPG.