Welcome to our dedicated page for NeuroMetrix news (Ticker: NURO), a resource for investors and traders seeking the latest updates and insights on NeuroMetrix stock.
NeuroMetrix, Inc., based in Waltham, Massachusetts, is a leading innovator in the healthcare sector, focusing on the development and commercialization of neurotechnology devices. Founded in 1996 as a spinoff from the Harvard-MIT Division of Health Sciences and Technology, the company uniquely combines bioelectrical and digital medicine to address chronic health conditions such as chronic pain, sleep disorders, and diabetes.
The company's flagship product, Quell®, is a wearable neuromodulation platform that offers drug-free pain relief through clinical-grade neurostimulation. Quell® is designed to help individuals suffering from chronic back pain, arthritic pain, nerve pain, and other chronic pain conditions manage their symptoms effectively. Its user-friendly app further aids patients in reclaiming their quality of life.
Another notable product is DPNCheck®, a point-of-care screening test designed for peripheral neuropathy, particularly in diabetic patients. This device has become an essential tool for early diagnosis and management of neuropathy.
NeuroMetrix continues to invest in research and development, maintaining several pipeline programs aimed at expanding their product offerings and improving existing technologies. The company’s current projects include refining their wearable devices to integrate more advanced features, enhancing user experience through mobile apps, and leveraging cloud-based systems for data analysis and management.
Additionally, NeuroMetrix has established significant partnerships and collaborations to expand its market reach and enhance its technological capabilities. Despite the challenges highlighted in recent news, including shareholder concerns about stock valuation and leadership, the company remains focused on delivering innovative healthcare solutions.
For more updates and detailed information on NeuroMetrix's performance, events, and developments, visit NeuroMetrix.com.
NeuroMetrix (NURO) has announced a definitive merger agreement with electroCore (ECOR), where electroCore will acquire NeuroMetrix in a transaction expected to close in late Q1 2025. NeuroMetrix shareholders will receive the company's net cash balance (estimated at approximately $9M) at closing, plus one non-tradeable contingent value right (CVR) per share. The CVR includes rights to future proceeds from any DPNCheck® platform divestiture and royalties up to $500,000 on prescription Quell® product sales over two years post-closing.
The deal requires NeuroMetrix shareholder approval, minimum $8M net cash at closing, and filing of the 2024 Form 10-K. The transaction has received unanimous approval from both companies' Boards of Directors.
NeuroMetrix (NURO) reported Q3 2024 financial results, showing mixed performance. Quell revenue increased 50% to $184,000, while DPNCheck revenue declined 58% to $404,000. Total Q3 revenue was $0.6 million, down 51% year-over-year. The company reported a net loss of $1.5 million ($0.75 per share). Operating expenses were reduced by $0.7 million (25%) through cost-cutting measures. Cash position stands at $14.8 million. The company continues its strategic review process while focusing on building Quell Fibromyalgia business through direct-to-physician marketing and VA facility sales.
NeuroMetrix (Nasdaq: NURO) has reiterated its ongoing review of strategic alternatives to enhance shareholder value, which began in February 2024. Over the past six months, the company has:
1. Evaluated various strategic directions and optimizations
2. Conducted an extensive survey of potential transactions
3. Implemented a substantial reduction-in-force, lowering quarterly operating expenses by over $0.5M
4. Engaged in discussions to sell certain non-core international assets
5. Reported cash and cash equivalents of $16.4M as of June 30, 2024
Despite detailed diligence on multiple opportunities, no suitable transactions have been identified yet. The company believes continuing the strategic review process is in the best interest of shareholders but has not set a completion timeline.
NeuroMetrix reported Q2 2024 financial results and business highlights. Key points include:
1. Quell revenue increased 47% to $192,000, driven by growth in the fibromyalgia indication.
2. DPNCheck revenue declined 62% to $536,000 due to Medicare Advantage changes.
3. The company is proceeding with a De Novo submission for a chemotherapy-induced peripheral neuropathy indication for Quell technology.
4. Q2 2024 net loss was $1.5 million ($0.74 per share) compared to $1.5 million ($1.56 per share) in Q2 2023.
5. The company continues its strategic review process to enhance shareholder value, including exploring asset monetization and reducing operating expenses.
NeuroMetrix (Nasdaq: NURO) has announced its upcoming second quarter 2024 business and financial highlights release, scheduled for August 6, 2024, before the market opens. The company will host a conference call at 8:00 a.m. Eastern Time on the same day to discuss the results.
Participants wishing to join the call and ask questions should register in advance to receive dial-in information and a unique PIN. An audio-only webcast of the call, along with the earnings press release and financial statements, will be available on the company's website. A replay of the call will be accessible for one year in the Investors section of NeuroMetrix's website.
NeuroMetrix (Nasdaq: NURO) reported its Q1 2024 financial results. The company focuses on reducing neurological disorders and pain syndromes through non-invasive medical devices. Recent efforts include expanding the Board of Directors, reducing equity fundraising, and lowering operating expenses with a smaller workforce.
Quell® Fibromyalgia showed sequential revenue growth, with significant gains in unique prescribers and prescriptions. However, DPNCheck® faced a revenue decline due to Medicare Advantage market challenges.
Q1 2024 revenue was $1.1 million, down 37% from Q1 2023. Gross margin fell to 47%, and operating expenses rose to $3.8 million, resulting in a net loss of $3.0 million.
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