Nevro Stock Adds $197 Million Rising 18% on Spine Stimulator

Nevro Corp., the Menlo Park, California-based device maker that went public last year, surged the most in two months after the Food and Drug Administration approved its spine stimulator to treat chronic back pain.

The stock rose 18 percent to $53.33 at the close in New York, bringing its gain since being priced by underwriters in November to 196 percent. Nevro, which also reported earnings that fell less than analysts had forecast, saw its market value jump about $197 million to $1.3 billion.