NeuroMetrix, Inc. (Nasdaq: NURO) stock surged 56.74% to $3.37 in the late hours yesterday despite no significant update. The investors might have to give this stock a bit more attention this time around.
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For the quarter ended September 30, 2020, the Firm announced financial and market highlights on October 22, 2020. Business is a leading manufacturer of medical technologies focused on neurostimulation used to diagnose and treat chronic health conditions.
In the third quarter of 2019, sales of $2.0 million were nearly $2.1 million, representing a strengthened economic climate and increased healthcare distribution. Gross sales margin was $1.5 million, or 73.6 percent, up 17.4 percentage points from the 56.2 percent gross margin in Q3 2019.
In Q3 2020, DPNCheck reported record quarterly revenue. The main revenue engine continued to be the Medicare Advantage market. DPNCheck revenues led to the newly announced partnership with Biomedix, Inc.
The Journal of Diabetes Investigation released the findings of a significant study at Aichi Medical University Hospital, headed by Dr. Hideki Kamiyo (Nagakute, Japan). The research showed that the magnitude of diabetic peripheral neuropathy is effectively calculated by DPNCheck.
It was introduced in September with the Quell Apple Watch app. The app marks the first for an over-the-counter pain management system on a smartwatch. It allows users the ability to manage and monitor pain relief from the wrist on their Quell unit.
The first patients were involved in an NIH-funded multi-site, randomized, sham-controlled trial testing the effectiveness of Quell in peripheral neuropathy caused by chemotherapy (CIPN). The research was planned by the School of Medicine and Dentistry of the University of Rochester and is being run.
A U.S. utility patent covering Quell key technology was released that governs electrical stimulation depending on the user’s body’s location.
An analysis of over 1,000 Quell users with chronic knee pain was identified in a PAINWeek 2020 research presentation. A clinically relevant increase in pain severity and physical dysfunction was shown in the study.
