CVRx (CVRX) The 44th Annual William Blair Growth Stock Conference summary

Executive leadership and strategic focus

• New CEO with extensive medtech and medical device experience joined in February 2024, focusing on market development and novel therapies.

• Executive team expanded with new leaders in clinical research, patient access, and key growth initiatives.

• Leadership aims to expand therapy awareness, clinical evidence, and patient access.

• Emphasis on building sustainable, programmatic adoption at treatment centers.

• Sales team stability restored after Q1 turnover, with positive response to new leadership and compensation changes.

Market opportunity and therapy overview

• Barostim is the first neuromodulation therapy for heart failure, targeting patients with reduced ejection fraction and significant unmet needs.

• Over 4,000 patients have been treated globally, with robust clinical evidence supporting Barostim.

• Addressable U.S. market for Barostim therapy is $2.2 billion annually, with 76,000 annual eligible patients and current penetration under 2%.

• Only 30% of NYHA III HFrEF patients are eligible for CRT, leaving 70% with limited options; Barostim targets this underserved group.

• Barostim is indicated for stable HFrEF patients on guideline-directed therapy but still symptomatic, with a minimally invasive, outpatient procedure and 97% freedom from major adverse events.

Clinical evidence and outcomes

• BEAT-HF study at 24 months showed Barostim doubled improvement in exercise capacity and quality of life.

• 94% response rate, 68% improved NYHA class, and 34% relative reduction in all-cause death, LVAD, or transplant at four years.

• Barostim demonstrated significant reductions in all-cause mortality, advanced heart failure interventions, and serious cardiovascular events in the BeAT-HF trial.

• Ongoing efforts to broaden clinical evidence and publish additional real-world outcomes, leveraging databases and registries.

• Focus on generating more clinical evidence and supporting Barostim's mechanism and outcomes.