• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
  • Technologies
    • Artificial Intelligence (AI)
    • Cardiovascular
    • Orthopedics
    • Neurological
    • Diabetes
    • Surgical Robotics
  • Business & Finance
    • Wall Street Beat
    • Earnings Reports
    • Funding Roundup
    • Mergers & Acquisitions
    • Initial Public Offering (IPO)
    • Legal News
    • Personnel Moves
    • Medtech 100 Stock Index
  • Regulatory & Compliance
    • Food & Drug Administration (FDA)
    • Recalls
    • 510(k)
    • Pre-Market Approval (PMA)
    • MDSAP
    • Clinical Trials
  • Special Content
    • Special Reports
    • In-Depth Coverage
    • DeviceTalks
  • Podcasts
    • MassDevice Fast Five
    • DeviceTalks Weekly
    • OEM Talks
      • AbbottTalks
      • Boston ScientificTalks
      • DeviceTalks AI
      • IntuitiveTalks
      • MedtechWOMEN Talks
      • MedtronicTalks
      • Neuro Innovation Talks
      • Ortho Innovation Talks
      • Structural Heart Talks
      • StrykerTalks
  • Resources
    • About MassDevice
    • DeviceTalks
    • Newsletter Signup
    • Leadership in Medtech
    • Manufacturers & Suppliers Search
    • MedTech100 Index
    • Videos
    • Webinars
    • Whitepapers
    • Voices
Home » NeuroMetrix posts dismal sales and earnings numbers

NeuroMetrix posts dismal sales and earnings numbers

February 10, 2009 By MassDevice staff

Hard on the heels of the plea agreement added to its miserable week by posting nearly $30 million in losses for 2008.

The Waltham-based company said sales were off 30 percent from 2007. The drop off in sales contributed to a net loss of $27.7 million for the year, compared to an 8.4 million loss reported for 2007.

The bulk of its $4.1 million fourth-quarter net loss stemmed from the $3.7 million federal settlement, with the rest due to a $274,000 writedown on the NeuroMetrix January buyout of joint-venture partner Cyberkinetics Neurotechnology Systems Inc.

The company, which slashed its sales force by 40 percent during the second quarter last year, claimed that much of its sales woes are due to concerns about reimbursement for NC-stat treatments. NeuroMetrix cited a 1.5 percent decline to 5,189 in the number of physicians using its instruments and said those doctors also bought less of the consumables used with the systems.

Sales of consumables accounted for about 90 percent of all sales over the past two years, with medical equipment accounting for the rest.

Costs rose 5 percent in the fourth quarter and 3 percent on the year, largely due to higher discounts as NeuroMetrix phases pricing for its new Advance product.

But there’s hope in a recent decision by the American Medical Association’s CPT Editorial Panel, which authorized a billing code for 2010 for the type of nerve conduction measurement used in the NeuroMetrix technology.

Filed Under: Business/Financial News, Neurological

More recent news

  • Johnson & Johnson MedTech launches new Volt plating systems for radius, humerus
  • PharmaSens, SiBionics collab on all-in-one insulin patch pump
  • Beta Bionics to pair iLet automated insulin delivery system with Abbott’s dual glucose-ketone sensor
  • Anaconda Biomed wins CE mark for funnel catheter
  • FDA approves Neuspera neuromod for urinary incontinence

Primary Sidebar

“md
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest med device regulatory, business and technology news.

DeviceTalks Weekly

See More >

MEDTECH 100 Stock INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
MDO ad

Footer

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion
Drug Discovery & Development
Pharmaceutical Processing World
MedTech 100 Index
R&D World
Medical Design Sourcing

DeviceTalks Webinars, Podcasts, & Discussions

Attend our Monthly Webinars
Listen to our Weekly Podcasts
Join our DeviceTalks Tuesdays Discussion

MASSDEVICE

Subscribe to MassDevice E-Newsletter
Advertise with us
About
Contact us

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy