NeuroMetrix (NSDQ:NURO) reported another consecutive quarter at a net loss, spurring a 9.1% drop on Wall Street yesterday, where shares closed at 50¢.
The Waltham, Mass.-based medical device maker reported net losses of $2.6 million, or 21¢ per share on sales of $1.8 million, in line with analysts expectations. That compared with a net loss of $2.4 million, or 63¢ per share, on sales of $2.6 million during the same period last year.
NeuroMetrix’s diabetes products sales came to $300,000 and the company’s Advance nerve testing business brought in $1.5 million, according to the press release.
The company saw progress in its NC-stat diabetic peripheral neuropathy treatment sales, with the install base now at 778 NC-stat DPNCheck devices and projected to reach 1,000 by the end of year.
NeuroMetrix also plans before the end of 2012 to launch sales of its Sensus pain management system, which won 510(k) clearance from the FDA in August.
“NC-stat DPNCheck sales into managed care and the Sensus launch continue to command our attention,” president & CEO Dr. Shai Gozani said in prepared remarks. “The interest level in SENSUS from physicians at trade shows and potential distributors has been encouraging. We are working toward a limited launch later this year to be followed by a broader, distributor-led initiative early in 2013.”
