Second quarter 2023 revenue of $16.5 million increased 62% year-over-year
Full-year revenue guidance increased to $59-$61 million, up from $52-54 million
Cash burn reduced to $4 million in the second quarter of 2023, relative to $9.8 million in the first quarter of 2023
NeuroPace, Inc. (Nasdaq: NPCE), a commercial-stage medical device company focused on transforming the lives of people living with epilepsy, today reported financial results for the second quarter ended June 30, 2023.
Recent Highlights
Achieved total revenue of $16.5 million for the second quarter of 2023, representing a 62% increase over the second quarter of 2022.
Through a disciplined approach to cash management, reduced cash burn to $4 million from $9.8 million in the first quarter of 2023, further extending the Company’s cash runway.
NAUTILUS trial enrollment remains on track to expand indication into generalized epilepsy, with completed enrollment anticipated in the first quarter of 2024.
Completed initial implants for first cohort of patients in NIH-funded feasibility study in Lennox-Gastaut syndrome, or LGS.
Enhanced efforts to expand access to 1,800 epileptologists and all functional neurosurgeons based on updated site qualification criteria, which NeuroPace believes significantly increases total addressable market in the U.S.
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