NeuroMetrix (NSDQ:NURO) said this week that it reeled in a $3.8 million milestone payment from its collaboration with GlaxoSmithKline‘s (NYSE:GSK) consumer healthcare unit. The strategic deal between the two groups was first announced in January this year. According to the terms of the deal, GSK acquired exclusive ownership of NeuroMetrix’s Quell pain-relief device outside the U.S., in exchange for […]
Teardown: Inside the Neurometrix Quell TENS device
A TENS device for transcutaneous electrical nerve stimulation wraps around the upper calf much like a wristwatch wraps around the wrist. Here are some of its operational secrets. By Lee Teschler A medical device called a Quell performs what’s called transcutaneous electrical nerve stimulation on the lower leg. This technique is said to relieve diabetic pain. None […]
NeuroMetrix inks Quell ownership deal with GlaxoSmithKline, posts Q1 earnings
NeuroMetrix (NSDQ:NURO) today saw shares fall despite announcing an exclusive deal giving GlaxoSmithKline (NYSE:GSK) ownership of its Quell technology for commercialization outside the US and releasing Street-beating first quarter earnings. In its deal with GlaxoSmithKline, Waltham, Mass.-based NeuroMetrix said it will receive payments totaling $26.5 million, with $5 million paid at closing and up to $21.5 million […]
NeuroMetrix touts Quell user-response study data
NeuroMetrix (NSDQ:NURO) yesterday released results from a clinical study of its Quell wearable device, touting its ability to treat chronic pain. Results from the trial were published in the Journal of Pain Research, the Waltham, Mass.-based company said. In the retrospective study, researchers examined data from 713 subjects using its Quell device to treat chronic pain […]
NeuroMetrix shares down on 2017 earnings miss
NeuroMetrix (NSDQ:NURO) saw shares dip today after it released 2017 earnings that missed analyst’s expectations, despite posting fourth quarter earnings that beat consensus. For the three months ended Dec. 31, the Waltham, Mass.-based company posted losses of $2.9 million on sales of $4.9 million, seeing its losses grow 2.3% while sales grew 32.7% compared with the […]
NeuroMetrix, GSK ink development deal for Quell wearable pain-relief tech
Shares in NeuroMetrix (NSDQ:NURO) soared this morning after the company announced it would partner with GlaxoSmithKline (NYSE:GSK) to expand development of NeuroMetrix’s Quell wearable pain-relief device. According to the terms of the deal, GSK’s consumer healthcare business will have exclusive rights to the Quell system for markets outside of the U.S., while NeuroMetrix will retain ownership of the device […]
NeuroMetrix closes $4m private placement
NeuroMetrix (NSDQ:NURO) said today it closed a $3.5 private placement round of Series F convertible preferred stock with funds slated to support continued commercialization of its Quell device. The Waltham, Mass.-based ocmpany floated a total of 3,500 Series F convertable shares at $1,000 per share. Shares sold in the round are convertible into 1.3 million shares […]
Is there a digital health solution for treating pain?
Could TENS devices be a potential answer to the opioid crisis? If they are, it’ll be thanks to digital health. Case in point is NeuroMetrix’s Quell device. Transcutaneous electrical nerve stimulation (TENS) gizmos have been around for decades. But they’ve had a reputation for being unwieldy, with a bunch of wires and pads. “TENS devices have been around […]
NeuroMetrix raises $7m
NeuroMetrix (NSDQ:NURO) said on Monday it inked a private placement deal set to bring in approximately $7 million in gross proceeds. Money in the placement came through the sale of 7,000 shares of Series F convertible preferred stock at $1,000 per share. Funds will be supplied through in initial tranche of $3.5 million and a second tranche, which […]
Zimmer Biomet prez, CEO Dvorak unexpectedly resigns | Personnel Moves, July 12, 2017
Zimmer Biomet (NYSE:ZBH) said late yesterday its prez and CEO David Dvorak has resigned from his position at the head of the company, effective immediately, to be replaced on an interim basis by senior VP and CFO Daniel Florin until a permanent successor is named. The Warsaw, Ind.-based company said it is retaining “a leading executive search […]
NeuroMetrix launches 1-for-8 reverse stock split
NeuroMetrix (NSDQ:NURO) said today it will engage in a 1-for-8 reverse stock split, effective today, as it looks to satisfy the $1 minimum bid price requirement for the NASDAQ capital market. Through the split, every 8 shares of the company’s common stock will be consolidated into 1 issued and outstanding share with no change in the nominal […]
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