MINNEAPOLIS - CVRx, Inc. (NASDAQ: CVRX), a medical device company specializing in neuromodulation therapies, has announced the appointment of three new executives to its senior leadership team.
Dr. Philip B. Adamson will take on the role of Chief Medical Officer, Bonnie Handke joins as Senior Vice President of Patient Access, Reimbursement, and Healthcare Economics, and Jennifer E. Englund has been appointed as Senior Vice President of Global Clinical Affairs.
The new appointments are part of CVRx's strategy to enhance the adoption of its Barostim™ therapy, which is designed to improve symptoms of heart failure by delivering electrical pulses to baroreceptors in the carotid artery. This neuromodulation approach aims to restore balance to the autonomic nervous system and reduce heart failure symptoms.
Dr. Adamson, a renowned heart failure expert, will transition from Abbott Laboratories (NYSE:ABT) to CVRx on May 23, 2024. His extensive experience includes nearly three decades in academia and as a practicing cardiologist. In his new role, he will lead medical education and outreach initiatives to establish Barostim as a standard treatment for heart failure.
Bonnie Handke, with over 25 years at Medtronic (NYSE:MDT), will begin her new position on May 28, 2024. She brings a wealth of experience in developing market access strategies and navigating complex reimbursement landscapes. Handke's expertise will be central to expanding patient access to Barostim therapy.
Jennifer Englund, with a background in leading clinical evidence generation strategies, joined CVRx on May 1, 2024. She oversees the development and execution of the company's clinical evidence generation strategy, including the design and optimization of post-market studies.
CVRx's President and CEO, Kevin Hykes, expressed enthusiasm for the new additions, stating they will significantly contribute to the company's efforts in driving Barostim therapy adoption and expanding patient access.
The Barostim System has received FDA approval and the CE Mark for heart failure and resistant hypertension in the European Economic Area. It is the first FDA-approved medical technology that uses neuromodulation to improve heart failure symptoms.
The information is based on a press release statement from CVRx, Inc.
InvestingPro Insights
In the midst of bolstering its leadership team, CVRx, Inc. (NASDAQ: CVRX) appears to be navigating a complex financial landscape. According to InvestingPro data, CVRx holds a market capitalization of $174.06 million, which is reflective of investor valuation of the company. Despite the challenges, one of the InvestingPro Tips highlights that the company holds more cash than debt on its balance sheet, indicating a strong liquidity position that could support its strategic initiatives and the adoption of Barostim therapy.
Another noteworthy InvestingPro Tip is the stock's recent performance, suggesting that the stock is currently in oversold territory. This could be an indicator for potential investors that the stock may be undervalued at the current price level, which stands at $8.06 as of the previous close. Additionally, the company has seen significant revenue growth over the last twelve months, with an impressive increase of 59.59%, demonstrating the potential market demand for its innovative heart failure treatment.
However, investors should be aware that analysts have revised their earnings expectations downwards for the upcoming period, and the company is not anticipated to be profitable this year. For those considering an investment in CVRx, InvestingPro offers additional insights and tips, totaling 11 for CVRx, which can be accessed at https://www.investing.com/pro/CVRX. For a more comprehensive analysis, interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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