|From: kyleLennon (Rep: 0)||Date: 08/08/2018 23:01|
|Forum: NEVRO CORP - Msg #10||Thread #674026953 (Rec: 0) |
|On July 24, the shares of the company plunged in reaction to a negative patent ruling involving litigation between Nevro and Boston Scientific that occurred just before the closing bell.|
Before the bell on the next day, the shares were buoyed by district court rulings. The court "ruled in favor of Nevro regarding six method claims in three of its patents, finding them patent eligible. However, the court also found the BSX is not currently infringing the six method claims, because it has not commercially launched a high-frequency Spinal Cord Stimulation (SCS) system in the U.S.
In addition, the company recently announced Q2 earnings last week. Even though its revenue grew by an impressive 23%, Nevro missed its consensus analyst earnings target. The results were driven by the continued global adoption of HF10 therapy and execution by the company's seasoned commercial team.
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