NeuroMetrix, Inc. - NURO STOCK NEWS

NeuroMetrix (NURO) reported Q2 2022 revenues of $2.1 million, down 3.4% from $2.2 million in Q2 2021. Domestic sales of DPNCheck grew by 20.3%, while Quell sales fell by 50% due to reduced promotional spending. Gross profit dropped to $1.5 million with a margin of 67.9%, impacted by supply chain issues. Operating expenses rose to $2.7 million, leading to a net loss of $1.2 million ($0.17 per share). The FDA approved Quell as a treatment for fibromyalgia, with a commercial rollout planned for Q4 2022. The company holds $23 million in cash and securities.

NeuroMetrix (NURO) will release its second quarter financial results on July 21, 2022, before market open. A conference call discussing these results and relevant business developments is scheduled for the same day at 8:00 a.m. ET. Interested participants can access the call through an audio-only webcast available on the company’s website. NeuroMetrix specializes in medical devices for neurological disorders and pain management, offering three main products: DPNCheck®, ADVANCE®, and Quell®.

NeuroMetrix (NURO) has appointed Bradley M. Fluegel to its Board of Directors as of July 1, 2022. With over 25 years in healthcare strategy and business development, Fluegel previously served in senior roles at Walgreens, Wellpoint, and Aetna. His experience aligns with NeuroMetrix's growth strategy in the neurology and chronic pain sectors. Fluegel believes in the company's potential to address significant unmet health needs with its innovative products, including DPNCheck, ADVANCE, and Quell.

NeuroMetrix (Nasdaq: NURO) has received FDA De Novo authorization for its Quell device, aimed at alleviating fibromyalgia symptoms in adults with high pain sensitivity. This marks a significant milestone following its Breakthrough Designation in July 2021. Fibromyalgia affects approximately 5 to 15 million adults in the U.S., and Quell is the first medical device approved for treating this condition. Clinical trials showed that 57% of active treatment users reported meaningful improvements, compared to 34% in the sham group. The company plans to launch Quell in Q4 2022, targeting rheumatologists and pain specialists.

NeuroMetrix (NURO) reported Q1 2022 revenue of $2.3 million, a 6.8% increase from the previous year, driven by a 15.6% growth in DPNCheck^® sales to Medicare Advantage. The gross margin improved to 77.9% from 73.3%. However, operating expenses rose to $2.8 million from $1.6 million, leading to a net loss of $959,000 (or $0.14 per share). The company ended the quarter with $23.8 million in cash and equivalents. Notably, Quell^® technology received FDA Breakthrough Designation for chronic chemotherapy-induced neuropathy.

NeuroMetrix, Inc. (NASDAQ: NURO) will release its 2022 Q1 financial results on April 26, 2022, before market opening. A conference call to discuss these results and business developments will take place at 8:00 a.m. Eastern Time on the same day. Participants in the U.S. can access the call by calling 844-787-0799, while international participants can dial 661-378-9630. The earnings press release will be available on the company's Investor Relations webpage. NeuroMetrix focuses on developing non-invasive devices for pain and neurological disorders.

NeuroMetrix, Inc. (Nasdaq: NURO) announced a clinical trial evaluating its Quell wearable neuromodulation technology for treating fibromyalgia-like symptoms in individuals with post-acute COVID-19 syndrome (PACS). Conducted at Baylor College of Medicine, the trial aims to enroll 40 patients experiencing persistent symptoms following COVID-19. Quell, covered by multiple patents, is notable for its advanced, non-invasive design. The study is a double-blind, randomized trial, with primary outcomes focusing on pain, sleep, and fatigue improvement.

NeuroMetrix (NURO) reported Q4 2021 revenue of $1.8 million, a slight increase from Q4 2020, with full-year revenue rising 11.9% to $8.3 million. Sales of DPNCheck® to Medicare Advantage drove this growth, achieving 26.0% annual growth. However, Q4 gross margin declined to 68.3% from 73.7% due to increased costs for electronic components. Operating expenses increased to $2.2 million, leading to a net loss of $1.0 million for the quarter. In January 2022, the Quell® technology received FDA Breakthrough Designation for treating chronic chemotherapy-induced peripheral neuropathy.

NeuroMetrix, Inc. (NASDAQ: NURO) plans to release its 2021 fourth quarter and full year financial results on January 27, 2022, before the market opens. A conference call will be held at 8:00 a.m. ET to discuss these results and associated business developments. The call can be accessed in the U.S. at 844-787-0799 and internationally at 661-378-9630, using confirmation code 4266103. Financial reports will be available on the company’s website.