10:16 AM EDT, 06/06/2024 (MT Newswires) -- LivaNova ( LIVN ) said Thursday that a study assessing the company's Vagus Nerve Stimulation therapy for treatment-resistant depression in unipolar patients did not meet its primary endpoint of achieving "statistical significance" between active and sham VNS Therapy in evaluating the severity of depressive episodes in adults.

The primary endpoint of the study compared the effectiveness of active and sham VNS Therapy on depression. The active group showed "clinically meaningful improvement" over 12 months, while the sham group demonstrated an unexpectedly strong response, the drugmaker said.

The company said the study, which reported no safety issues, reached "statistical significance" in some secondary endpoints.

LivaNova ( LIVN ) said it plans to analyze data further and publish findings in peer-reviewed journals by Q4.

Shares of the company were down nearly 11% in recent Thursday trading.

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