A 1-for-6 reverse stock split worked out for NeuroMetrix Inc. (NSDQ:NUROD), which said today that it’s back in the good graces of the NASDAQ exchange, and announced a new product launch for the diabetes market.
The Waltham, Mass.-based company, a former high flier on Wall Street, has fallen back to earth after hitting a high-water mark of $39.35 per share in August 2006.
The former chairman, president and CEO of Home Diagnostics Inc. is facing insider trading charges from federal prosecutors and the Securities &Exchange Commission, accusing him of tipping off friends and family to Nipro Corp.’s (TYO:8086) $215 million acquisition of the diabetes monitoring equipment maker last year.