NeuroPace (NPCE) 43rd Annual J.P. Morgan Healthcare Conference 2025 summary

Mission and Market Opportunity

• Focused on transforming the lives of patients with drug-resistant epilepsy, a large unmet need in the U.S. healthcare system, aiming to reduce or eliminate debilitating seizures.

• U.S. addressable market exceeds $55 billion, with a $2 billion annual core opportunity focused on drug-resistant epilepsy.

• About 1.2 million U.S. patients have drug-resistant epilepsy, but only 6,500 receive advanced treatment annually, highlighting a significant treatment gap and high direct medical costs.

• Market expansion targets include broader patient eligibility and access outside Level 4 epilepsy centers.

Technology, Clinical Evidence, and Differentiation

• RNS System is the first and only closed-loop, brain-responsive neuromodulation device for epilepsy, offering real-time, personalized, and data-driven therapy.

• Demonstrates sustained and improving seizure reduction: 67% at 1 year, 75% at 2–9 years, and 82% at 3+ years in real-world studies.

• Provides ongoing iEEG data, enabling physicians to tailor therapy and monitor patient progress.

• Lower adverse event rates and improved cognitive and quality-of-life outcomes compared to VNS, DBS, and surgery.

• Strategic data collaborations aim to leverage RNS data for broader clinical insights and future therapies.

Growth Strategy and Expansion Initiatives

• Achieved $79.4–$79.9 million in 2024 revenue, a 21–22% year-over-year growth, with strong gross margins and disciplined spending.

• Ended 2024 with $52.8 million in cash, providing flexibility through at least 2026.

• Project CARE expands RNS access to community settings, targeting 1,800 additional epileptologists and neurosurgeons, with pilot in 2024 and expansion in 2025.

• Three-pronged growth strategy: expand adoption in Level 4 centers, broaden site of service access, and pursue indication expansion.

• Marketing efforts focus on referral, direct-to-patient outreach, and earlier education to drive adoption.