CVRx Inc. on Sunday addressed a public letter from shareholder Jorey Chernett of Pointillist Family Office, which questioned the company’s valuation amid its neuromodulation therapy for cardiovascular diseases. The Minneapolis-based company, listed on the NASDAQ under ticker CVRX, stated its Board of Directors and leadership team remain committed to maximizing shareholder value.
In a formal response, CVRx acknowledged agreement with Chernett’s assessment that Barostim, its proprietary implantable device, is differentiated and supported by clinical evidence. The therapy delivers electrical pulses to baroreceptors in the carotid artery wall to manage heart failure and resistant hypertension. The company noted that its current valuation does not fully reflect the underlying business potential of Barostim, which has received regulatory designations and approvals in key markets.
Barostim holds FDA Breakthrough Device designation in the United States and is approved for heart failure patients. It also holds CE Mark approval in the European Economic Area for heart failure and resistant hypertension. CVRx emphasized its confidence in the company’s business fundamentals and strategies aimed at driving Barostim’s growth while managing expenses. The Board reiterated its openness to constructive engagement and actions consistent with its fiduciary duties to all shareholders.
