enVVeno Medical appoints new CFO amid growth phase

IRVINE, CA - enVVeno Medical Corporation (NASDAQ:NVNO), a $63.5 million market cap company specializing in the treatment of deep venous disease, announced today the appointment of Jennifer Bright as its new Chief Financial Officer (CFO). The company’s stock has shown strong momentum, gaining nearly 20% year-to-date despite broader market challenges. Bright, a seasoned executive with over 25 years of financial and strategic leadership experience, steps into her role effective immediately, signaling a strategic move as enVVeno transitions from a development-stage company to a commercial entity.

Bright’s extensive background includes roles at Biolase, Spectrum Pharmaceuticals, Apria Healthcare, Smile Brands, and Teleflex Medical. She has also honed her technical accounting and auditing skills at PricewaterhouseCoopers LLP. Her expertise is expected to bolster enVVeno’s financial infrastructure and support the commercialization of its innovative products, including the VenoValve® and enVVe® devices, which are designed to treat deep venous Chronic Venous Insufficiency (CVI). According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt and a healthy current ratio of 23.77, though it faces challenges with rapid cash burn.

Robert Berman, CEO of enVVeno Medical, expressed confidence in Bright’s ability to navigate the company’s growth and change. He emphasized her critical role in financial strategy and operations, as well as in expanding institutional investor and analyst relationships.

The company is at a pivotal moment with its pre-market authorization (PMA) application for the VenoValve submitted to the FDA, awaiting a decision in the second half of 2025. Additionally, an Investigational Device Exemption (IDE) for the enVVe pivotal trial is expected to be filed in the third quarter of 2025.

CVI, a debilitating disease often caused by blood clots in the leg veins, affects approximately 2.5 million new patients annually in the U.S. alone. enVVeno’s products aim to address this significant medical need, as there are currently no effective treatments for severe CVI caused by valvular incompetence. While InvestingPro analysis indicates the company is currently trading above its Fair Value, analyst targets suggest significant upside potential, with additional insights and financial metrics available to Pro subscribers.

Bright succeeds Craig Glynn, who will continue to advise the company. The information regarding the appointment and the company’s developments is based on a press release statement from enVVeno Medical Corporation.

In other recent news, enVVeno Medical Corp has appointed CBIZ CPAs P.C. as its new independent registered public accounting firm. This change follows the resignation of Marcum LLP, the previous auditor, after CBIZ acquired Marcum’s attest business. The transition to CBIZ was approved by enVVeno Medical Corp’s Board of Directors’ Audit Committee and took effect on April 17, 2025. Importantly, Marcum’s reports on the company’s financial statements for the fiscal years ending December 31, 2024, and 2023, were without adverse opinions or disclaimers. The reports were not modified concerning accounting principles or audit scope. Throughout Marcum’s tenure, there were no disagreements or significant events that could have influenced their audit reports. enVVeno Medical Corp also confirmed that it did not consult with CBIZ on any accounting principles or auditing matters before the transition. Marcum has provided a letter to the SEC agreeing with the statements made in the company’s filing. This change in auditors marks a noteworthy event in enVVeno Medical Corp’s corporate governance.

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