NeuroMetrix, Inc. - NURO STOCK NEWS

NeuroMetrix, Inc. (Nasdaq: NURO) announced the issuance of U.S. Patent No. 10,780,269, effective September 22, 2020, covering its Quell technology for pain relief through position-dependent electrical stimulation. This innovative feature allows the device to automatically adjust treatment based on the user's body position, enhancing its effectiveness. The patent adds to NeuroMetrix's portfolio, now comprising 15 U.S. utility patents for Quell technology, reinforcing its leadership in wearable pain relief solutions. Quell is designed for chronic pain management and is available over-the-counter.

NeuroMetrix, Inc. (Nasdaq: NURO) will present a scientific poster at the PAINWeek 2020 Live Virtual Conference from September 11-13. The poster titled "Real-World Outcomes from High-Dose Transcutaneous Electrical Nerve Stimulation in Individuals With Chronic Knee Pain" analyzes data from 1,136 Quell users. Results show a significant improvement in pain severity and functional impairment using an intention-to-treat analysis. Quell is an over-the-counter wearable device designed for chronic pain management, enabling users to personalize therapy via an app.

NeuroMetrix, Inc. (Nasdaq: NURO) announced a study in the Journal of Diabetes Investigation demonstrating that its DPNCheck device effectively assesses diabetic peripheral neuropathy (DPN) severity. The study, involving 375 Type II diabetes patients, found DPNCheck had an area under the ROC of 0.87 for moderate to severe DPN detection and 0.83 for early nerve dysfunction signs. CEO Shai N. Gozani highlighted the study's significance in validating DPNCheck's diagnostic accuracy. DPNCheck serves as a quick, cost-effective point-of-care tool for monitoring peripheral neuropathies.

NeuroMetrix, Inc. (Nasdaq: NURO) announced the commencement of a multi-site randomized controlled trial funded by the NIH, examining the effectiveness of its Quell device for treating chemotherapy-induced peripheral neuropathy (CIPN). Led by Dr. Jennifer Gewandter, the study aims to enroll 150 patients and evaluate TENS therapy's impact on CIPN symptoms. CIPN affects around 650,000 chemotherapy patients annually, presenting debilitating symptoms. Quell, an FDA-cleared wearable TENS device, demonstrated promising results in prior studies, although its use for CIPN is investigational and not FDA reviewed.

NeuroMetrix (NASDAQ: NURO) has released an infographic highlighting the pervasive issue of chronic knee pain, affecting one-quarter of U.S. adults, and how its Quell technology offers a drug-free solution. Quell is a wearable TENS device specifically designed for knee pain, launched as Quell 2.0 in 2018. The device features prescription-strength nerve stimulation, an activity tracker, a built-in gait monitor, and customizable overnight therapy modes. Quell is available OTC, emphasizing its accessibility for individuals seeking relief from chronic pain.

NeuroMetrix, Inc. (Nasdaq: NURO) reported Q2 2020 financials with total revenue of $1.4 million, down 42% year-over-year. Despite a net loss of $0.9 million, the gross margin improved to $0.9 million with a rate of 63.6%. The company faced challenges due to COVID-19, impacting customer orders significantly. Notably, DPNCheck® generated $0.8 million in revenue, while Quell® and ADVANCE contributed $0.4 million and $0.1 million, respectively. Operating expenses decreased to $1.7 million.

The company raised $3.7 million via common stock sales to strengthen its balance sheet.

NeuroMetrix, Inc. (Nasdaq: NURO) announces plans to release its second quarter financial results on July 23, 2020, before market open. A conference call will follow at 8:00 a.m. ET the same day, discussing the results and business developments. Investors can access the call by dialing 844-787-0799 in the US or 661-378-9630 internationally, using confirmation code 4284442. The earnings press release and financial statements will be available on the company's website.

NeuroMetrix, Inc. (Nasdaq: NURO) announced expanded distribution of its DPNCheck product in China, which evaluates diabetic peripheral neuropathy. Originally launched in 2016 through exclusive distributor Omron Medical, DPNCheck is part of a comprehensive metabolic management strategy in over 300 hospitals. Recently, Omron partnered with Yabao Pharmaceutical to enhance its market presence, starting in northern China. This collaboration aims to improve diabetes-related patient care and leverages Yabao's extensive sales force and focus on chronic diseases.

NeuroMetrix, Inc. (Nasdaq: NURO) announced a collaboration with Biomedix to comarket DPNCheck, enhancing peripheral neuropathy detection in Medicare Advantage and value-based care markets. This integration will facilitate the documentation process by merging DPNCheck results into Biomedix's Xchange platform, aiding healthcare providers in assessing chronic health conditions. The partnership aims to improve care delivery and streamline diagnostic documentation, potentially increasing market exposure for both companies.