NEUROPACE INC (NPCE)
Health Care · Implantable neuromodulation devices for epilepsy and neurological disorders · NASDAQ
NeuroPace makes the RNS System, the only FDA-approved brain-responsive neuromodulation device that monitors and treats drug-resistant epilepsy by delivering personalized electrical stimulation directly at seizure sources.
What NEUROPACE INC does
NeuroPace is a medical device company that develops and commercializes the RNS System, a brain-responsive neuromodulation platform for treating drug-resistant epilepsy. The device continuously monitors brain electrical activity, recognizes patient-specific abnormal patterns, and delivers real-time imperceptible electrical pulses to prevent seizures at the source—typically requiring only about three minutes of stimulation per day. Beyond epilepsy, the company is pursuing indication expansions to include drug-resistant idiopathic generalized epilepsy and pediatric patients aged 12–17, and is investigating potential applications in depression, memory disorders, and PTSD. As of December 2025, over 8,000 patients have received the RNS System, and the company is expanding its commercial reach beyond Level 4 comprehensive epilepsy centers to reach approximately 1,800 additional epileptologists and functional neurosurgeons.
Themes: ["Epilepsy / drug-resistant seizures","Neuromodulation / brain stimulation","Brain-computer interfaces / neural monitoring","Neurosurgery / implantable devices","Mental health treatment (depression, PTSD)","Real-world clinical evidence generation"]
Fundamentals
- Price$16.97 as of 2026-07-09 close
- Market cap$579M as of 2026-07-10
- 1-year return+62.0% as of 2026-07-09 close
- Net margin-21.7% as of 2026-07-10
- Gross margin+78.3% as of 2026-07-10
- ROE-120.7% as of 2026-07-10
- Debt / equity4.08 as of 2026-07-10
- Revenue growth (YoY)+18.1% as of 2026-07-10
- Revenue CAGR (3y)+30.0% SEC XBRL
- Beta1.95 as of 2026-07-10
Key risks (from latest filing)
["Regulatory and clinical execution risk: NAUTILUS study for generalized epilepsy did not achieve its primary effectiveness endpoint, and future label expansion approvals (pediatric, generalized epilepsy) depend on successful clinical data and FDA clearance.","Market adoption and reimbursement: Although the company expanded qualification criteria in 2023, RNS System adoption depends on clinician training, insurance reimbursement decisions, and clinician comfort with neurosurgical implantation for patients with drug-resistant epilepsy.","Commercial execution and competition: The company is unprofitable with significant accumulated deficit ($559.1 million as of March 31, 2026) and must execute on targeted expansion to ~1,800 additional epileptologists and functional neurosurgeons while managing R&D costs for indication expansions and potential new neurological indications."]
Competitors & peers
- Medtronic (neurosurgery and neurostimulation platforms)
- Boston Scientific (neuromodulation devices)
- Abbott (neurostimulation therapies)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.