The NC-stat DPNCheck is an early detection system for DPN, which affects more than half of patients with diabetes, making it the most common complication of the disease. DPN can cause pain, increase risk of falls and is the "primary trigger" for diabetic foot ulcers that can lead to amputations, NeuroMetrix said.
The NC-stat DPNCheck is a handheld device that evaluates nerve conduction and response in the lower leg, a standard biomarker for DPN.
NeuroMetrix plans to sell the NC-stat DPNCheck system through exclusive distributor Omron, which managed the regulatory process for Japan. The 1st shipments are expected in the next few weeks, according to a press release.
The news sent NURO shares up nearly 35% today, peaking at $2.61 before settling down to $2.23 as of about 3:50 p.m. EST, maintaining a 19% rise on the day.
NeuroMetrix saw a smaller spike last year when it announced a Chinese distribution deal, also through Omron, for the NC-stat DPNCheck system.