NeuroPace Reports Strong Preliminary Revenue and Key Updates
Preliminary Revenue Growth for NeuroPace
NeuroPace, Inc. (Nasdaq: NPCE), a medical device company dedicated to improving the lives of individuals living with epilepsy, has shared its preliminary unaudited revenue expectations for the fourth quarter and the full year ahead. The anticipated revenue for Q4 2024 is expected to be between $21.0 million and $21.5 million, while the revenue for the full year 2024 is projected to be between $79.4 million and $79.9 million.
Strong Performance Overview
This expected revenue marks a significant achievement for NeuroPace, showcasing a growth rate of approximately 17% to 19% compared to the fourth quarter of 2023. For the entire year 2024, a growth of 21% to 22% is anticipated compared to the previous year. Moreover, these figures surpass the company's initial guidance for 2024 revenue, which was projected to be between $73 million and $77 million.
Financial Highlights
As of December 31, 2024, NeuroPace forecasts cash and short-term investments to total around $52.8 million, with an expected 30,145,039 shares of common stock outstanding. Such financial stability positions the company well for continued growth and investment in its pivotal initiatives.
NAUTILUS Trial Update
One of the key components of NeuroPace's growth strategy includes the ongoing NAUTILUS pivotal trial. This trial is on track to complete its necessary one-year follow-up of subjects in the coming months, with data analysis expected to begin in Q2 2025. The trial aims to evaluate the RNS System's safety and effectiveness as a treatment for patients 12 years and older with drug-resistant idiopathic generalized epilepsy.
Leadership Changes
In line with its growth initiatives, NeuroPace has appointed Scott Huennekens to its Board of Directors as of January 6, 2025. Huennekens, known for his extensive experience in management and investment within the medtech sector, is anticipated to bring valuable insights that will aid in driving the company’s long-term strategy and enhancing shareholder value.
Future Investor Engagements
Looking ahead, NeuroPace is preparing for key events to further engage with investors. The management team will be presenting at the upcoming 43rd Annual J.P. Morgan Healthcare Conference on January 15, 2025. Additionally, the company will host an Investor Day on January 28, where it will elaborate on its recent performance, future plans, and product developments.
About NeuroPace
NeuroPace, based in Mountain View, Calif., focuses on creating innovative solutions that transform care for those living with epilepsy. The RNS System, their flagship product, represents the first commercially available brain-responsive platform, providing personalized treatment aimed at addressing the source of seizures.
Frequently Asked Questions
What is the expected revenue for NeuroPace in Q4 2024?
NeuroPace expects its revenue for Q4 2024 to be between $21.0 million and $21.5 million.
What growth did NeuroPace anticipate for 2024?
The company anticipates a growth rate of 21% to 22% for the full year 2024 compared to the previous year.
Who was appointed to the NeuroPace Board of Directors?
Scott Huennekens was appointed to the Board on January 6, 2025, bringing extensive experience in the medtech industry.
What significant trial is called NAUTILUS and its purpose?
The NAUTILUS trial is evaluating the safety and effectiveness of the RNS System for treating patients with drug-resistant epilepsy.
When are the upcoming events for investors?
NeuroPace will present at the J.P. Morgan Healthcare Conference on January 15, 2025, and host an Investor Day on January 28, 2025.
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