Medical device maker Nevro dips after lowering 2024 revenue forecast

Nevro

07/08/2024 12:57

** Medical device maker Nevro's  NVRO.N  shares fall ~34% to
$5.75 premarket  
    ** Co on Tuesday lowered its FY 2024 revenue forecast, hurt
by weakness in its spinal cord stimulation (SCS) platform for
treatment of chronic pain 
    ** NVRO does not expect trailing growth rates for U.S. SCS
market to improve from Q2 2024  
    ** Co's Q2 revenue declined 4.3% to $104.2 million from a
year earlier, hurt by competition in the SCS market 
    ** Up to last close, NVRO stock down ~60% YTD

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))