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Small-Cap Snapshot: Medical device company Nevro is on the rise after a court rules in its favor

The company has been involved in a patent infringement litigation suit with Boston Scientific
Court imagery
Nevros' methods were found to be patent eligible but Boston Scientific was not found guilty of infringement

Gainers

ResTORbio Inc (NASDAQ:TORC) was a top gainer following positive trial results. In a Phase 2b trial of its drug RTB101, a treatment for respiratory tract infections, showed a reduction in the percentage of patients with one or more RTIs. The company went public in January and the lock-up period will soon expire, allowing shareholders to sell shares. Shares skyrocketed up more than 65% to US$15 in Wednesday afternoon trading.

Nevro Corp (NYSE:NVRO) shares are up double-digits after a court ruled in favor of the company regarding its patent infringement litigation with Boston Scientific Corporation (NYSE:BSX). As per the ruling, six method claims in three of its patents were found to be patent eligible. However, the court did not find that Boston Scientific to be infringing the six method claims. Nevro plans to appeal a portion of the ruling. Shares of the medical device company jumped nearly 40% to US$60.29.

Decliners

Helios and Matheson Analytics Inc (NASDAQ:HMNY) shares are sinking following a 1-to-250 reverse stock split. The big data company implemented the split to prevent the company from being delisted from the Nasdaq. The company the parent of movie subscription service MoviePass. Shares were down around 40% to US$12.96.

Tupperware Brands Corporation (NYSE:TUP) reported disappointing second-quarter results. The storage company saw lower-than-expected sales due to a slip in demand. Ultimately, the container company cut its full-year forecast. Shares of the Florida-based company were down more than 15% to US$34.30.

The Russell 2000 small-cap index was down slightly in Wednesday afternoon trading.

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