CVRx (CVRX) investor relations material

Market Opportunity and Therapy Overview

• Barostim is the first neuromodulation therapy for heart failure, targeting a $2.2B annual U.S. market with a well-defined, underserved patient population and few competitors.

• Heart failure affects over 6 million people in the U.S., with high hospitalization rates, limited effectiveness from current drug therapies and CRT, and projected annual costs of $70B by 2030.

• Barostim is indicated for patients not adequately helped by drugs, addressing the "forgotten middle" and supported by new consensus guidelines recommending device therapy after 3–6 months of unsuccessful medical management.

• The device is minimally invasive, implanted in a 45–60 minute outpatient procedure, is entirely extravascular, and has a 97% freedom from significant complications.

• Clinical data show Barostim delivers durable, significant improvements in quality of life and exercise capacity, with a 94% responder rate and strong signals for reduced hospitalizations and mortality.

Clinical and Real-World Evidence

• Quadruple drug therapy improves survival but has minimal impact on quality of life, with only 1% of patients reaching optimal dosing and over 40% discontinuing within a year.

• Barostim showed a twofold improvement in exercise capacity and quality of life compared to standard drug therapies, as evidenced in the BeAT-HF trial.

• The BeAT-HF trial indicated a 34% relative reduction in all-cause death, LVAD, or transplant over more than four years, though this was not a powered endpoint.

• Real-world data from 2021–2023 showed an 85% reduction in hospital and emergency department visits post-Barostim implant.

• Most heart failure patients value symptom improvement over longevity, with 65% willing to accept shorter life for fewer symptoms.

Commercial Strategy and Organizational Changes

• The go-to-market strategy focuses on building a specialized sales team, developing sustainable Barostim programs, deepening adoption at select centers, and systematically addressing barriers of awareness, evidence, and access.

• 41% of quota-carrying sales reps are new in 2023 or 2025, causing short-term disruption but expected to drive long-term growth as onboarding and training progress.

• Senior management and sales team have been streamlined, reducing direct reports and aiming for a scalable, high-competency leadership structure.

• The sales approach has evolved to include select tier 3 and 4 accounts, optimizing territory potential and leveraging pragmatic entry strategies at academic centers.

• Execution and productivity of the new sales force are the current focus, with expectations for improved results over the next two quarters.