Cyberonics Shares Up 14% In June, Stimulated By Pending D-04 Trial Results
This article was originally published in The Gray Sheet
Executive Summary
The promise of a concrete regulatory timeline for Cyberonics' NeuroCybernetic Prosthesis vagus nerve stimulation therapy for depression, coupled with a $50 mil. investment by Boston Scientific, drove the firm's stock price up 13.8% in June
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Cyberonics
Boston Scientific's approximately $50 mil. stake in the vagus nerve stimulation technology manufacturer demonstrates the firm's interest in the potential of deep brain stimulation. The VNS device already is approved for drug-resistant epilepsy, and Cyberonics is developing the device to treat depression. Houston, Texas-based Cyberonics will host a dinner program outlining its depression regulatory timeline Sept. 24. Cyberonics was targeted for acquisition by Medtronic in 2000, but rejected a $26-per-share takeover offer (1"The Gray Sheet" Sept. 18, 2000, p. 5)...
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Cyberonics will present data from its D-04 depression trial in July to determine if venous nerve stimulation (VNS) was responsible for a marked improvement in depression symptoms compared to its D-02 study