The opioid epidemic is a disaster.
Over 100 million Americans suffer from some form of chronic pain. Globally, experts believe the chronic pain market is an opportunity expected to grow to $69 – $105 billion over coming years. But current solutions to this epidemic are woefully inadequate.
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According to data from the National Institutes of Health (NIH), over 128 people died each day from opioid-related drug overdose in 2018.
With public consciousness about this dynamic blazing, companies able to offer non-opioid-based solutions represent long-term potential. Pain isn’t going to disappear as human problem. It will always be around. And safe, effective solutions will always invite a premium value.
With that in mind, we survey a few of the more interesting names in the space, including: Nevro Corp (NYSE:NVRO), Axsome Therapeutics Inc (NASDAQ:AXSM), Electromedical Technologies Inc (OTCMKTS:EMED), and Medtronic PLC (NYSE:MDT).
Nevro Corp (NYSE:NVRO) bills itself as a medical device company that provides products for the patients suffering from chronic pain in the United States and internationally.
The company develops and commercializes the Senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain. It also offers Senza II system and Senza Omnia system products for chronic pain. The company’s solution for chronic pain also includes HF10 Therapy, which delivers neuromodulation solutions for treating chronic pain based on available clinical evidence.
Nevro Corp (NYSE:NVRO) just announced that it will establish global manufacturing operations in Costa Rica to invest in and support the Company’s future growth expectations.
“Nevro has been successful through its early years with outsourced manufacturing and highly supportive supply chain partners,” said D. Keith Grossman, Chairman, CEO and President of Nevro. “As part of our growth plans moving forward, Nevro is establishing insourced global manufacturing for its pipeline of future products to ensure that we have the most efficient cost structure and flexible capacity, while maintaining the highest level of quality control as we scale.”
If you’re long this stock, then you’re liking how the stock has responded to the announcement. NVRO shares have been moving higher over the past week overall, pushing about 4% to the upside on above average trading volume. Shares of the stock have powered higher over the past month, rallying roughly 7% in that time on strong overall action.
Nevro Corp (NYSE:NVRO) managed to rope in revenues totaling $56.4M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of -39.7%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($562.3M against $220.8M).
Axsome Therapeutics Inc (NASDAQ:AXSM) bills itself as a clinical stage biopharmaceutical company that engages in developing novel therapies for central nervous system (CNS) disorders in the United States. Its product pipeline includes AXS-05, which is in the phase III clinical trial for the treatment resistant depression and depressive disorders; and phase II/III clinical trials in agitation associated with Alzheimer’s disease, as well as completed phase II clinical trial for the treatment of smoking cessation.
The company is also developing AXS-07, which is in phase III clinical trial for the treatment of migraine; AXS-09 that has completed phase II clinical trial for the treatment of various CNS disorders; AXS-12, which has completed phase II clinical trial for the treatment of in narcolepsy; and AXS-14, an investigational medicine that is in phase III for the treatment of fibromyalgia.
Axsome Therapeutics Inc (NASDAQ:AXSM) most recently announced that Phase 3 data for AXS-07 in the acute treatment of migraine has been selected as a featured presentation at the 2020 American Academy of Neurology (AAN) Science Highlights platform, to be held virtually September 23, 2020 at 12:15 PM Central Time.
According to the release, the AAN Science Committee reviewed over 150 late breaking, or Emerging Science, abstracts and selected 12 to be featured presentations on the new 2020 AAN Science Highlights platform. The results of the Phase 3 MOMENTUM trial were one of the 12 selected abstracts. According to the AAN, the selected abstracts contain timely, significant, and innovative content.
The context for this announcement is a bit of a bid, with shares acting well over the past five days, up about 8% in that timeframe.
Axsome Therapeutics Inc (NASDAQ:AXSM) had no reported sales in its last quarterly financial data. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($190.7M against $23M).
Electromedical Technologies Inc (OTCMKTS:EMED) produces the WellnessPRO-Plus device, a self-administration tool for bioelectronic medical treatment of chronic pain.
EMED is also developing its next generation product, the WellnessPro® POD, which will address not only chronic pain, but new modalities using frequencies that naturally tap into the body’s electrochemical system without the use of potentially harmful drugs.
Electromedical Technologies Inc (OTCMKTS:EMED) most recently put out news that it continues to find strong interest for its FDA cleared WellnessPro+ device line as a bioelectronic chronic pain solution from top professional athletes in the NBA, NFL, NHL, PGA, and PBR.
As a result, the Company has ordered an additional 1,000 units to enter production to meet expected rising demand.
“We are excited to see use and growing demand among some of the world’s top athletes for our proprietary bioelectronic chronic pain solution, because it represents validation from those who demand performance in their treatment options,” noted Matthew Wolfson, Founder and CEO of Electromedical Technologies. “They can’t afford the risks associated with opioid-based drugs, but they need results. Word of mouth in locker rooms and team meetings has been a very valuable marketing tool because our device delivers a complete solution to chronic pain without any dangerous or harmful side effects – it helps players get up off the bench and back into the game fast.”
The stock is still establishing deep liquidity and undergoing a price discovery process. Shares testing key support a few days ago, and responded well, rebounding as much as 100% this week on growing volume.
Electromedical Technologies Inc (OTCMKTS:EMED) has already sold 8,000 units of the WellnessPRO® device, with customers including over 250 schools and universities, who use these devices in their athletic departments and research programs, and a number of professional athletes and sports teams in the NBA, NHL, and NFL.
Medtronic PLC (NYSE:MDT) trumpets itself as a company that develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide.
It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
Medtronic PLC (NYSE:MDT) just announced new data from the landmark WRAP-IT study, showing the TYRX™ Absorbable Antibacterial Envelope (TYRX Envelope) is cost effective for patients at increased risk of infections who receive cardiac implantable electronic devices (CIEDs). The analysis, newly published in Circulation: Arrhythmia and Electrophysiology, demonstrates the envelope’s cost-effectiveness compared to standard-of-care infection prevention strategies in the U.S. healthcare system.
According to the release, cost-effectiveness analyses are tools to indicate which interventions provide good value for money.
If you’re long this stock, then you’re liking how the stock has responded to the announcement. MDT shares have been moving higher over the past week overall, pushing about 3% to the upside on above average trading volume. Shares of the stock have powered higher over the past month, rallying roughly 7% in that time on strong overall action.
Medtronic PLC (NYSE:MDT) managed to rope in revenues totaling $6.5B in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of -13.2%, as compared to year-ago data in comparable terms. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($13B against $13.1B, respectively).
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