CVRx, Inc.: directors' dealings · United States · SEC (Form 4)

About CVRx, Inc.

CVRx, Inc. is a U.S.-based medical technology company listed on the NASDAQ (United States) and focused on neuromodulation solutions for patients with cardiovascular disease, particularly heart failure. Founded in 2000, the company has built its business around a single commercial product, Barostim, which makes CVRx a highly specialized niche player but also a company with meaningful product-concentration risk. Its operating headquarters and manufacturing activities are in Minneapolis, Minnesota, where CVRx performs final assembly, testing, and packaging of its devices. ([stockanalysis.com](https://stockanalysis.com/stocks/cvrx/company/?utm_source=openai)) Barostim is described by the company as the first FDA-approved medical technology that uses neuromodulation to improve symptoms in heart-failure patients. The implantable device delivers electrical pulses to baroreceptors in the carotid artery wall, aiming to modulate cardiovascular signaling. CVRx also commercializes the platform in Europe, where it has been present since 2012, and in the U.S. since 2020. The business remains in an expansion phase, with commercial adoption still building rather than fully mature. ([ir.cvrx.com](https://ir.cvrx.com/news-releases/news-release-details/cvrx-reports-fourth-quarter-and-full-year-2025-financial-and)) From a competitive standpoint, CVRx operates in a narrow segment of the medical-device market at the intersection of cardiology and neuromodulation. Its strategy depends less on portfolio breadth and more on differentiated clinical value, physician adoption, and broader reimbursement access. The company has been expanding its direct U.S. sales organization, and its commercial footprint continued to improve during 2025. At year-end 2025, CVRx reported 252 active implanting centers in the U.S. and 53 U.S. sales territories, up from 223 centers and 48 territories a year earlier. That growth suggests a gradually deepening go-to-market platform, although the company remains much smaller than mainstream cardiovascular device competitors. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1235912/000110465926014708/cvrx-20251231x10k.htm)) Geographically, the company is still heavily U.S.-weighted. In 2025, U.S. revenue was $51.9 million, versus $4.8 million in Europe. Management highlighted continued growth in new territories and new accounts, as well as improving physician and patient awareness of Barostim. In February 2026, CVRx reported full-year 2025 revenue of $56.7 million, up 10% year over year, and announced initiation of the BENEFIT-HF trial, with first enrollments expected in the second quarter of 2026. The company also noted that Category I CPT codes and associated physician reimbursement levels became effective on January 1, 2026, a potentially important commercial milestone that could improve access and reduce friction in the adoption process. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1235912/000110465926014708/cvrx-20251231x10k.htm)) For investors, CVRx is best viewed as a high-risk, high-upside medtech story: a differentiated cardiovascular therapy with regulatory and reimbursement catalysts, but also a narrow revenue base, a limited commercial history, and continued net losses. The company ended 2025 with $75.7 million in cash and cash equivalents and remains in an investment-heavy phase focused on scaling Barostim. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1235912/000110465926014708/cvrx-20251231x10k.htm))