NURO shares were up 19.1% at $24.77 per share in mid-afternoon trading. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 0.4%.
The Woburn, Mass.-based company posted losses of -$531,584 on sales of $2.2 million for the three months ended June 30, 2021, for a 37.6% bottom-line gain on sales growth of 62.8%.
NeuroMetrix’s Quell non-invasive nerve stimulation device for pain relief earlier this week earned FDA breakthrough device designation — leading to the company’s stock skyrocketing. The company reported today that Quell delivered positive operating margins during the quarter.
“We continued to make progress in both the DPNCheck and Quell business lines. We believe we are laying the groundwork for steady top-line growth going forward,” NeuroMetrix president & CEO Dr. Shai N. Gozani said in a news release. “It was particularly rewarding to share the Quell fibromyalgia data with international pain medicine experts in June and to receive Breakthrough Device Designation from the FDA. We look forward to advancing this program towards a commercial launch in 2022.”
NeuroMetrix did not offer financial guidance for the remainder of the year.
