{
  "docId": "019dd923-622c-750b-8b9a-2a2468219173",
  "docSlug": "ce565b841c40",
  "documentTitle": "Nevro Corp. (NVRO)",
  "authorId": "58_Scorpion_Capital",
  "authorName": "Kir Kahlon",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-01-07 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 98,
  "pageCount": 239,
  "prevPage": 97,
  "nextPage": 99,
  "slideType": "testimonial",
  "function": "illustrate_case",
  "density": "overcrowded",
  "nDataPoints": 5,
  "notes": "The slide uses highlighted text to emphasize critical data points regarding patient satisfaction and explant rates.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "quote_block"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9a-2a2468219173/98",
  "deckHref": "/decks/019dd923-622c-750b-8b9a-2a2468219173",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-2a2468219173.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-2a2468219173#slide-98",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "If all the patients were included, the explant rate in the study would have been closer to 50% [versus the 33% in the paper].",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-3f3d-76db-b33e-54bc8253f495",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "explant rate: 50%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-3f3d-76db-b33e-5c6e965f2aba",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.88,
        "x": 0.06,
        "y": 0.13
      },
      "kind": "paragraph",
      "text": "Case study #3 (cont'd): He elaborated that 75% of Nevro patients experienced a collapse in efficacy, with explants beginning within 6 months and then accelerating. This KOL was familiar with the NANS paper which reported a 33% explant rate, and stated that the rate would have actually been ~50% if not for methodology constraints. Notably, he added that other papers on Nevro's alarming explant rates are in peer review “to be published shortly.”",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ff186534-1d10-4054-b5fd-7e9245b4dd47",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.88,
        "x": 0.06,
        "y": 0.45
      },
      "kind": "quote",
      "text": "“I noticed that 50% of patients were not getting relief by end of one year, and within 18 months, 75%. I think the efficacy drop off was present at a year, but it may have taken us 18 months to really delve into how many patients weren't getting relief.”",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "668b3dab-01e3-49bd-82f9-580d7556a18f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.88,
        "x": 0.06,
        "y": 0.31
      },
      "kind": "quote",
      "text": "“I would say overall probably 25% of the patients are satisfied with Nevro, maybe less. We first started seeing a diminution at about 6 months, and it really became prevalent at close to a year. I would say on average, towards the end of the first year of the implant, we saw a huge drop off in efficacy.”",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8f6f01d1-7dc7-41f3-9e0d-539cf223b421",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.88,
        "x": 0.06,
        "y": 0.59
      },
      "kind": "quote",
      "text": "“If all the patients were included, the explant rate in the study would have been closer to 50% [versus the 33% in the paper]. Including the patients he wasn't able to follow, the explants would have been worse. There was another doctor [name redacted] who had a high implanting volume. Exact same story. Other papers on explant rates are in peer review to be published shortly.” —Ex-Nevro consultant/speaker and one of the most prominent KOL's in the space",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b4cd6810-3bc9-44ea-a1f7-d7541a761cd3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "“I would say overall probably 25% of the patients are satisfied with Nevro, maybe less. We first started seeing a diminution at about 6 months, and it really became prevalent at close to a year. I would say on average, towards the end of the first year of the implant, we saw a huge drop off in efficacy.” — Ex-Nevro consultant/speaker and one of the most prominent KOL's in the space",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-3f3d-76db-b33e-5827dcbe8080",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.25,
        "x": 0.06,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "Source: Consultation calls with experts",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ee751743-88be-49cc-8fd9-89a623147441",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.88,
        "x": 0.06,
        "y": 0.09
      },
      "kind": "title",
      "text": "7. Nevro's explants crisis is pervasive yet unknown to most investors: case studies of 5 KOL's",
      "attrs": null,
      "subkind": "action-title",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "929dc980-97ed-40c4-828c-6c88fb9002ac",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.45,
        "x": 0.06,
        "y": 0.04
      },
      "kind": "title",
      "text": "Scorpion Capital | Nevro (NYSE: NVRO)",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "76a8152b-d8e9-4bb2-964c-a8a90d27294d",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 150,
      "from": 51,
      "beatId": "903c076a-f368-4ca1-844c-277874c1afb2",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Victory",
      "beatSlug": "overcoming-monster-the-victory",
      "evidence": "The deck presents a conclusion that Nevro's problems are insurmountable",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}