Nuvectra Corp Soars Nearly 42% In After-hours; What's Driving The Stock?

Shares of Nuvectra Corporation (NVTR), a neurostimulation medical device company, gained 41.96% during after-hours on Monday. The upsurge in shares followed the company's statement that it is exploring alternatives including sale of the company. During the trading hours, the stock had advanced 8.33% to close at $1.43.

During the second quarter, the company reported net loss of $11.1 million or $0.62 per share compared with net loss of $11.8 million or $0.83 per share in the same quarter a year ago. Revenue for the quarter rose 4% to $12.3 million from $11.9 million last year. Total cash and cash equivalents were $69.8 million as of June 30, 2019.

The company markets FDA-cleared and CE-marked Algovita Spinal Cord Stimulation (SCS) System for the treatment of chronic pain of the trunk and limbs.

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