Northstar's Second Chance

For Northstar Neuroscience, which is exploring new approaches for neurostimulation devices, the decision to take the money and run when the device IPO window was open in 2006 has meant the difference between survival or closing up shop. The FDA's recent approval of the company's second study of its Renova cortical stimulation device for the treatment of major depressive disorder is one sign that reports of Northstar's demise may, have been premature. The company's second chance can largely be attributed to the fact that it flew in the face of conventional wisdom that held that it was too early for the company to go public in 2006.