NeuroPace Shares Updates on Financial Performance and Board of Directors

NeuroPace Inc. (NASDAQ: NPCE) recently filed an 8-K form with the U.S. Securities and Exchange Commission disclosing several key updates. The company announced preliminary unaudited financial results, a new appointment to its Board of Directors, and provided a business update on its NAUTILUS pivotal trial.

In terms of financial performance, NeuroPace reported that preliminary unaudited revenue for the fourth quarter and full year ended December 31, 2024, is expected to range between $21.0 million and $21.5 million for Q4 and $79.4 million and $79.9 million for the full year. These figures represent growth percentages of 17% to 19% for the fourth quarter and 21% to 22% for the full year compared to the same periods in 2023. Additionally, as of December 31, 2024, the company expects cash and short-term investments of $52.8 million and a total of 30,145,039 shares of common stock outstanding.

In a significant move, the Board of Directors of NeuroPace increased the size of its board from seven to eight directors. Scott Huennekens was appointed to fill the newly created vacancy, effective January 6, 2025. Mr. Huennekens will serve as a Class II director until the NeuroPace 2026 Annual Meeting of Stockholders. He has been designated as a member of the Audit Committee as well. There are no prior arrangements or familial relationships that influenced his appointment.

Mr. Huennekens, a seasoned executive with vast experience in the medical device industry, brings valuable expertise to NeuroPace’s Board. He has a track record of success in leading and investing in medical technology companies.

Moreover, in the business update, NeuroPace revealed that its NAUTILUS pivotal trial is progressing as planned, with the completion of the required one-year follow-up of subjects set for March 2025. Data lock and subsequent trial analysis are expected to begin in the second quarter of 2025. This trial aims to evaluate the safety and effectiveness of the RNS System for treating patients with drug-resistant idiopathic generalized epilepsy, aged 12 and above.

These developments reflect NeuroPace’s commitment to advancing its growth strategies and enhancing shareholder value. The company is set to participate in upcoming investor events, including presenting at the 43rd Annual J.P. Morgan Healthcare Conference on January 15, 2025, and hosting an Investor Day in New York on January 28, 2025. Investors and stakeholders are encouraged to follow these events for further insights into NeuroPace’s operations and future plans.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read NeuroPace’s 8K filing here.

NeuroPace Company Profile

NeuroPace, Inc operates as a medical device company in the United States. The company develops RNS system, a brain-responsive neuromodulation system that delivers personalized, real-time treatment at the seizure source for treating medically refractory focal epilepsy. It also records continuous brain activity data and enables clinicians to monitor patients in person and remotely.