Inari Medical (NARI) 2024 Wells Fargo Healthcare Conference summary

Product safety and regulatory updates

• FlowSaver device used in over 70,000 patients, with 90-95% adoption in PE procedures and strong safety data, including a recent 4,000-patient study showing reduced mortality and transfusions.

• ClotTriever XL labeling updated in July after a safety signal; no device malfunction, only technique modification required, and no impact on main ClotTriever product.

• No negative commercial impact expected from FlowSaver or ClotTriever XL updates; product usage remains stable.

Clinical trials and research

• PEERLESS I RCT data to be presented October 29 at TCT, comparing FlowTriever to catheter-directed thrombolysis, with hard clinical endpoints like mortality and major bleeding.

• Additional RCTs (PEERLESS II, PERSEVERE, DEFIANCE) underway, targeting broader and higher-risk patient populations.

• Anticipated that positive PEERLESS results could rapidly shift clinical practice and market share.

Financial outlook and growth strategy

• 2024 first half saw 23% revenue growth; catalysts for H2 include PEERLESS data, Artix relaunch, LimFlow NTAP reimbursement, and entry into China and Japan.

• Guidance raised after Q1 and Q2; Q4 expected to see more catalysts and acceleration versus Q3.

• 2025 growth to be driven by new data, product launches, and international expansion, with a continued 20% growth target.