Stimwave filed Chapter 11 bankruptcy on June 15, 2022, with assets purchased by Curonix LLC on October 31, 2022. Its PNS and SCS products are implanted technology that block pain signals to the brain and provide a drug-free alternative for treating chronic pain. The company's core technology platform remains clinically relevant, but operational continuity and investor confidence remain challenged.
Cyborg Score Rationale
The SEC charged former CEO and co-founder Laura Tyler Perryman with defrauding investors of approximately $41 million through false statements about the PNS device, and after fraud unraveled in fall 2019, Stimwave voluntarily recalled devices and eventually filed for bankruptcy. Though the technology has clinical merit, the company faces severe trust and operational constraints.
Top Insights
Former CEO defrauded investors by misrepresenting device functionality and including fake non-functional components implanted in patients
FDA-cleared IPG-free device enables pinpointed stimulation with ongoing MRI capability
Curonix LLC acquired substantially all assets in October 2022 bankruptcy sale
Top competitors include NeuroPace, OrthAlign, Primo Medical Group, and Galt Medical
Named Competitors
Medtronic Spinal Cord Stimulation — Leading global neuromodulation platform provider
Abbott Neuromodulation — Spinal cord and peripheral nerve stimulation devices
Recent Developments
(June 2022) Chapter 11 bankruptcy filing under Kennedy Lewis Investment Management intervention
(October 2022) Curonix LLC acquired substantially all company assets through bankruptcy sale
(2019) Voluntary device recall and SEC fraud charges against former CEO
Open the full interactive Stimwave Technologies Inc report
Strategic research, analyst-debate audio, full Cyborg Score breakdown across 11 dimensions, and saved-company audio playlists.