|Cyberonics' VNS depression-treating implant--Courtesy of Cyberonics|
Company: Cyberonics ($CYBX)
2012 revenue: $253M
2013 revenue (estimated): $284M
2018 revenue (projected): $441M
The scoop: Unlike its three primary rivals, Cyberonics is primarily focused on neuromodulation. The Houston, TX, company is perhaps best known for its Vagus Nerve Stimulation (VNS) Therapy system, which is FDA approved to treat refractory epilepsy and treatment-resistant depression, by way of an implant that delivers electrical pulses to the vagus nerve. It's also sold globally.
Cyberonics is small but growing quickly. Last November, execs reported healthy gains in sales and steady growth in net income during the fiscal 2014 second quarter. President and CEO Dan Moore noted in a statement that global revenue grew at a healthy rate, but that the company also made progress advancing new products.
"Our estimates suggest that new patient additions in absolute numbers were the highest in 8 years, while estimates of replacement growth rates are consistent with those provided in our annual guidance," Moore said back in November.
AspireSR is among Cyberonics' advances. It uses the basic VNS system but then induces additional stimulation through the use of a magnet. That stimulation is automated through the sensing of heart changes correlated with a patient's seizure activity. At that point, stimulation of the vagus nerve kicks in in response to seizure, the company said. Cyberonics already reached one milestone for the product, submitting it for European regulatory approval during the quarter.
Among other advances: Cyberonics is assessing autonomic regulation therapy for patients with chronic heart failure and completed enrollment in the study (ANTHEM-HF) during the fiscal 2014 first quarter.
Cyberonics shares climb again after fruitful Q2