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NeuroPace, Inc. is a medical device company focused on transforming the lives of people living with epilepsy. The company primarily sells the RNS System, a neurostimulation device designed to treat adults with drug-resistant focal epilepsy, and has an exclusive partnership to market DIXI Medical products for epilepsy diagnostics.
- RNS System - Provides neurostimulation treatment for adults with drug-resistant focal epilepsy, marketed exclusively in the United States.
- DIXI Medical Products - Markets and sells diagnostic electrodes and related products for epilepsy through an exclusive partnership.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Martha Morrell Executive | Chief Medical Officer | Martha Morrell, M.D., has been the Chief Medical Officer at NPCE since 2004. She has significant experience in neurology and epilepsy treatment, contributing to the development of innovative neuromodulation systems. | ||
Rebecca Kuhn Executive | Chief Financial Officer, Vice President, Finance and Administration, and Corporate Secretary | Rebecca Kuhn has served as the CFO and VP, Finance and Administration at NPCE since 2000 and assumed the role of Corporate Secretary in March 2024. Previously, she was Treasurer and Director of Finance at Heartport, Inc. from 1992 to 2000. | ||
Lisa Andrade Board | Board of Directors Member | CEO of M33, LLC | Lisa Andrade has served as a Board of Directors Member at NPCE since 2021 and as Chair of the Compensation Committee since June 7, 2023. She also holds external leadership experience as CEO of M33, LLC since March 2018. | |
Rakhi Kumar Board | Member of the Board of Directors | Chief Accounting Officer at Roivant Sciences Ltd; Board Member at Roivant Social Ventures | Rakhi Kumar has served on NPCE's Board of Directors since 2021 and chairs the Audit Committee as its financial expert. With extensive expertise in accounting and finance in the life sciences industry, she has also been the Chief Accounting Officer at Roivant Sciences Ltd since June 2018. | |
Renee Ryan Board | Board Member of the Board of Directors | Board Member at RefleXion Medical, Inc. | Renee Ryan has served as a member of the Board of Directors at NeuroPace, Inc. since 2013. She brings extensive leadership experience from the medical technology industry, having previously served as CEO of Cala Health, Inc. from August 2019 to August 2023 and held senior roles at Johnson & Johnson Development Corp.. | |
Scott Huennekens Board | Director on the NeuroPace Board of Directors | Chair of the Board of Envista Holdings; Chair of the Board of Hyperfine; Independent Director of QuidelOrtho Corporation | Scott Huennekens joined NPCE as a director on January 6, 2025. He also serves as a member of the Audit Committee and brings decades of leadership experience from his roles at Verb Surgical, Volcano Corporation, and others. | |
Uri Geiger Board | Board of Directors Member | Co-founder and Managing Partner at Accelmed Partners; Member of the Board of Directors at Minerva Surgical Inc. | Uri Geiger has been serving on the NPCE Board of Directors since January 2023 and is a member of the Compensation Committee, bringing extensive experience from his previous executive roles in medical devices and private equity. |
- Based on your comment that manufacturing capacity is “in good shape” for 2026 and beyond , how will you mitigate risks if demand for the RNS System accelerates faster than anticipated, forcing you to rapidly scale production?
- Your 2025 revenue guidance of $92–$96 million hinges on factors like increased RNS System sales and DIXI Medical contribution , so what key operational or market risks could prevent achieving the high end of that range?
- With ongoing pediatric and idiopathic generalized epilepsy initiatives , could you detail the timeline and strategy for addressing reimbursement and coverage expansion challenges with payers, and how might this impact your competitive positioning?
- While Project CARE has driven noticeable increases in referrals and implants in Q4 , what specific performance metrics will you use to determine if the program is scalable outside Level 4 centers and economically viable?
- Considering your planned investments in expanding both your commercial organization and direct-to-consumer efforts , what controls are in place to ensure these capital expenditures result in sustainable top-line growth without eroding your operating margins?
Recent press releases and 8-K filings for NPCE.
- NeuroPace Inc. announced it will wind down its SEEG distribution relationship (starting Q4 2025 through Q1 2026) to focus on its core RNS System product line.
- The company is maintaining its 2025 revenue guidance and expects to reach cash flow breakeven by the end of 2027, targeting a long-range revenue CAGR of over 20%.
- Q4 2024 revenue reached $21.5 million, a 19% increase driven by strong RNS System sales .
- Full-year 2024 revenue grew 22% to $79.9 million, benefiting from robust RNS and DIXI Medical product sales .
- 2025 guidance projects revenue of $92–$96 million, with gross margins between 73% and 75% and operating expenses of $92–$95 million .
- Strategic use of public offering proceeds includes a share repurchase from KCK .
- Expanded RNS adoption through Project CARE, with growth in Level 4 centers and diversification into generalized epilepsy, underscores key expansion initiatives .
- Emphasis on revenue growth, disciplined operating expenses, and a healthy balance sheet positions the company toward cash flow breakeven .
- NeuroPace repurchased 5.3 million shares of its common stock from KCK Ltd, concluding the sale of all remaining shares held by the investor.
- The repurchase was funded using proceeds from a recent underwritten public offering, which also strengthened the company’s balance sheet and supported operations until cash flow breakeven.
- The transaction and related updates were disclosed in a Form 8-K filed on February 20, 2025.
- Public offering update: NeuroPace entered an underwriting agreement with J.P. Morgan Securities to issue 6,500,000 shares at $10 per share with a $0.60 discount, potentially raising net proceeds of $60.6 million (documents ).
- Share repurchase plan: The Company intends to use $49.5 million of the proceeds to repurchase 5,270,845 shares held by its significant stockholder KCK Ltd. at $9.40 per share, with remaining funds for general corporate purposes (documents ).
- NeuroPace entered into a Material Definitive Agreement with KCK Ltd. to repurchase all shares held by KCK at the same price as the upcoming equity offering, funding the repurchase with proceeds from that offering.
- KCK Ltd. held approximately 17.5% of NeuroPace's outstanding common stock as of December 31, 2024, prior to the repurchase.
- The stock repurchase is contingent on the equity offering closing and other customary conditions, with the transaction expected to close no earlier than two business days after the equity offering.
- NeuroPace sets 2025 revenue guidance between $92M–$96M with a target gross margin of 73%-75%.
- The company outlined its long‐range strategic plan through 2027, aiming for 20%+ revenue CAGR and achieving cash flow breakeven with disciplined expense management.
- Robust clinical data from its Post-Approval Study and NAUTILUS trial support plans to expand indications into generalized and pediatric epilepsy populations.
- Neuropace is integrating advanced AI-enabled software tools with its unique closed-loop brain-responsive neuromodulation system to enhance seizure detection and treatment personalization.
- NeuroPace Inc unveiled its FY2025 strategy to drive forward-looking revenue growth and transform treatment for drug-resistant epilepsy using its closed-loop RNS System, achieving median seizure reduction rates of 75% to 82%.
- The presentation highlighted a >$2B annual core U.S. market opportunity at Comprehensive Epilepsy Centers, with plans to expand access through Project CARE and boost prescriber adoption.
- The call showcased strong 2024 performance with preannounced quarterly revenue of approximately $79.4–79.9 million and a robust cash position of $52.8 million, reinforcing its focus on operating discipline and effective cash management.
- Management emphasized advancing clinical trials, including enrollment completions in generalized epilepsy studies and indication expansion with trials such as NAUTILUS.
- Preliminary unaudited revenue for Q4 2024 is expected between $21.0M and $21.5M, with full year 2024 revenue forecast between $79.4M and $79.9M, reflecting sequential growth versus 2023.
- The report notes Q4 revenue growth of 17%-19% and full year growth of 21%-22% compared to 2023, exceeding earlier guidance.
- The update also highlights a board change with the appointment of Scott Huennekens effective January 6, 2025, and provides details on cash and short-term investments and progress in its pivotal trial.