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  "documentTitle": "Nevro Corp. (NVRO)",
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  "authorName": "Kir Kahlon",
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  "presentationDate": "2021-01-07 00:00:00",
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  "notes": "The slide uses expert testimony to undermine the company's core value proposition.",
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      "text": "The disconnect between the clinical data and actual results is that the data said you get 70-75% pain reduction with high frequency. Probably less than 20% of patients in my region got that. 25% of patients were non-responders. They weren't responsive to high frequency at all. 50% had pain relief but not to RCT-reported levels. For those 50% of patients, competitor devices fared better.",
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      "text": "The lack of therapeutic efficacy affected significantly more than 50% of patients at some point. 100% of patients experienced it at some point.",
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      "text": "The disconnect between the clinical data and actual results is that the data said you get 70-75% pain reduction with high frequency. Probably less than 20% of patients in my region got that.",
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      "text": "Given the size of his territory and the volume of patient outcomes that he witnessed, we find his comments on Nevro’s lack of efficacy to be illuminating. He stated that “less than 20% of patients” experienced results consistent with Nevro’s pivotal trial and that almost all suffered periods with no efficacy at all. He offered a pithy explanation for why “paresthesia-free” is a fatally flawed concept: paresthesia-based devices only need to provide some masking for the patient to feel relief, but without a compensatory tingling sensation to substitute for the pain, Nevro’s device has to provide 100% pain relief, which is impossible.",
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      "text": "With high frequency, patients are waiting for pain relief versus pain masking. Paresthesia has an immediate effect on leg pain because it masks it. High frequency requires going from painful to no pain. It requires 100% pain relief which never happens. The patient still feels pain. The patient wants zero pain.",
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      "text": "\"The disconnect between the clinical data and actual results is that the data said you get 70-75% pain reduction with high frequency. Probably less than 20% of patients in my region got that. 25% of patients were non-responders. They weren't responsive to high frequency at all. 50% had pain relief but not to RCT-reported levels. For those 50% of patients, competitor devices fared better.\" — Former Nevro regional sales director and now at a competitor",
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      "text": "Source: Consultation calls with experts",
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      "text": "– Former Nevro regional sales director and now at a competitor",
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      "text": "5. High frequency is Nevro’s fatal flaw and dooms any turnaround",
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      "text": "Scorpion Capital | Nevro (NYSE: NVRO)",
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