NeuroMetrix (NASDAQ:NURO) Stock, Quote.Headers.trade-ideas

NeuroMetrix

NeuroMetrix Inc is a commercial-stage healthcare company. Its core business activities are integrated with in-house capabilities spanning product development, manufacturing, regulatory affairs and compliance, sales and marketing, and customer support. The company produces bioelectrical and digital medicine to address chronic health conditions including chronic pain, sleep disorders, and diabetes. The product line of the company includes Wearable neuro-stimulation therapeutic devices and Point-of-care neuropathy diagnostic tests. The company operates in a single segment being Medical equipment and consumables.

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NeuroMetrix Inc

NeuroMetrix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NURO#NASDAQ">NURO</a>) today for the purpose of clarity, reiterated that the Company is engaged in a review of strategic alternatives. &nbsp;
In February of this year, the Company announced that it had initiated a review of strategic options with an objective of enhancing shareholder value. Over the past 6 months, the Company has invested considerable effort in evaluating a number of specific strategic directions and also making financial, operational and commercial optimizations.
<ul>
<li>In collaboration with a financial advisor, the Company conducted an extensive survey of potential transactions. Detailed diligence was performed on multiple opportunities; however, the Company determined that none of these opportunities were in the best interests of its shareholders at this time.</li>
<li>The Company implemented a substantial reduction-in-force at the end of Q1 to lower operating expenses by over $0.5M per quarter.</li>
<li>The Company is engaged in discussions to sell certain international assets that are not central to the Company's core domestic focus.
<ul>
<li>The Company reported cash and cash equivalents of $16.4M for the quarter ended June 30, 2024.</li>
</ul>
</li>
</ul>

Asset Sales

NeuroMetrix Reiterates Its Review Of Strategic Alternatives; In Collaboration With A Financial Advisor, The Company Conducted An Extensive Survey Of Potential Transactions; Implemented A Substantial Reduction-In-Force At The End Of Q1 To Lower Operating Expenses By Over $500K Per Quarter; Is Engaged In Discussions To Sell Certain International Assets That Are Not Central To The Company's Core Domestic Focus

NeuroMetrix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NURO#NASDAQ">NURO</a>) reported quarterly losses of $(0.74) per share. This is a 51.32 percent increase over losses of $(1.52) per share from the same period last year. The company reported $769.00 in sales this quarter. This is a 99.95 percent decrease over sales of $1.65 million the same period last year.

Earnings

NeuroMetrix Q2 EPS $(0.74) Up From $(1.52) YoY, Sales $769,148 Down From $1.65M YoY

NeuroMetrix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NURO#NASDAQ">NURO</a>) reported quarterly losses of $(1.67) per share. This is a 1.83 percent decrease over losses of $(1.64) per share from the same period last year. The company reported $1.09 million in sales this quarter. This is a 36.64 percent decrease over sales of $1.73 million the same period last year.

NeuroMetrix Q1 EPS $(1.67) Down From $(1.64) YoY, Sales $1.09M Down From $1.73M YoY

NeuroMetrix Q1 Revenue $1.093M Down From $1.724M YoY

<h3>Gainers</h3>
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<li>Mobile-health Network (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDR#NASDAQ">MNDR</a>) shares increased by 34.7% to $27.44 during Friday's regular session. The market value of their outstanding shares is at $932.9 million. </li>
<li>NKGen Biotech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKGN#NASDAQ">NKGN</a>) stock increased by 19.76% to $1.03. The company's market cap stands at $23.4 million. The company's, Q4 earnings came out 3 days ago. </li>
<li>Kintara Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTRA#NASDAQ">KTRA</a>) stock increased by 18.57% to $0.13. The market value of their outstanding shares is at $4.9 million. </li>
<li>NeuroMetrix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NURO#NASDAQ">NURO</a>) stock moved upwards by 17.26% to $4.28. The company's market cap stands at $8.5 million. </li>
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<li>SeaStar Medical Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICU#NASDAQ">ICU</a>) shares decreased by 21.2% to $0.43 during Friday's regular session. The company's market cap stands at $32.0 million. As per the press release, Q4 earnings came out 3 days ago. </li>
<li>iSpecimen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISPC#NASDAQ">ISPC</a>) stock decreased by 20.81% to $0.33. The company's market cap stands at $3.0 million. </li>
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<li>Regencell Bioscience (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGC#NASDAQ">RGC</a>) stock declined by 17.63% to $4.3. The company's market cap stands at $55.9 million. </li>
<li>Cardio Diagnostics Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDIO#NASDAQ">CDIO</a>) shares declined by 15.6% to $0.92. The market value of their outstanding shares is at $19.8 million. </li>
<li>Concord Medical Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCM#NYSE">CCM</a>) shares declined by 14.25% to $0.5. The market value of their outstanding shares is at $21.7 million. 
See Also: <a href="http://www.benzinga.com/money/best-healthcare-stocks/" title="www.benzinga.com/money/best-healthcare-stocks/">www.benzinga.com/money/best-healthcare-stocks/</a></li>
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

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NeuroMetrix Appoints Joshua S. Horowitz As New Independent Director; Co. Also Terminates At-The-Market Equity Facility

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NeuroMetrix Publishes Study Demonstrating That DPNCheck Diagnoses Diabetic Peripheral Neuropathy

NeuroMetrix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NURO#NASDAQ">NURO</a>) today announced that over 2000 fibromyalgia patients have been prescribed Quell Fibromyalgia since its strategic commercial launch in December 2022.
"We have been pleased by the positive response to Quell Fibromyalgia from providers taking care of patients with fibromyalgia during our strategic launch phase," said Shai N. Gozani, M.D., Ph.D., Chief Executive Officer of NeuroMetrix. "This early adoption affirms the need for novel clinical options to support fibromyalgia patients."
Dr. Anjuli Desai, dual board certified in Pain Medicine and Physical Medicine and Rehabilitation, commented, "Quell Fibromyalgia has been the treatment option that I have been awaiting for fibromyalgia. It offers me a medication free, safe and effective treatment for a chronic condition that has proven to be a challenge to manage in the past."
Dr. Jeremy Adler, COO of Pacific Pain Medicine Consultants, stated that "For patients with Fibromyalgia, navigating treatments can be overwhelming, costly and carry significant side effects. It is great to have a non-medication option, backed by data, that may provide needed relief. In my practice, we have even had some patients report they were able to reduce pain with Quell Fibromyalgia that medications have never helped before."
Quell Fibromyalgia Indications
Quell Fibromyalgia is a transcutaneous electrical nerve stimulation (TENS) device indicated as an aid for reducing the symptoms of fibromyalgia in adults with high pain sensitivity. The device may be used during sleep.
Limitations The sale, distribution, and use of Quell Fibromyalgia is restricted to prescription use in accordance with 21 CFR 801.109. The Product labeling should be reviewed for a complete list of contraindications, precautions and warnings. For more information visit <a href="https://www.globenewswire.com/Tracker?data=yG2fq1-5jEHHu0Y10IHBpTPBJe6Oo_ZHEnme7cgpV3G9NnVgafSYxlBcU_1fpagLyF7es0fLsC1Hcgw15TKoVYOk6W-HqUad7xlX7oEifKk=">QuellFibromyalgia.com</a>.

NeuroMetrix Announces That Over 2000 Patients With Fibromyalgia Have Been Prescribed Quell Fibromyalgia

- Stock trades significantly below its net cash per share
- Questions the Board's ability and/or desire to create shareholder value
- Notes tremendous destruction of shareholder value under company's leadership
- Sees no reason for company to remain public
NEW YORK, NY / ACCESSWIRE / March 4, 2024 / On February 27, 2024, Ephraim Fields of Echo Lake Capital filed a Schedule 13D which included a letter to the Board of Directors of Neurometrix, Inc. <a href="https://pr.report/fDMzuaC2">(NASDAQ:</a><a href="https://www.benzinga.com/stock/NURO#NASDAQ">NURO</a>). The letter described his belief that the company should immediately liquidate because its stock price is trading significantly below net cash and because Mr. Fields sees no reason why the company should remain public. Among other things, the letter also questioned the Board's decision to issue stock at prices below net cash and its desire to create shareholder value.
A full copy of the letter can be found below:
CONTACT: Ephraim Fields <a href="mailto:ef@echolakecapital.com">ef@echolakecapital.com</a>
###
February 27, 2024
To the Board Of Directors:
As of December 31, 2023, NeuroMetrix had approximately $18.0 million of net cash and approximately 1.5 million shares outstanding, which equates to approximately $12.00 of net cash per share. Despite having all this net cash, plus assets that have some value and no significant liabilities, NURO's stock trades at only $3.50 per share or at a 70% discount to its net cash.
We believe the stock's dramatic undervaluation is largely attributable to the perception that you are not acting in the best interests of shareholders. Your incentives do not appear to be aligned with those of all shareholders because you personally own very few shares (despite your many years of service at the company and the generous compensation you have received).
We believe investors' concerns about your motivations have been recently heightened because:
<ol>
<li>You continue to permit NURO to issue shares via an ATM offering even though the stock is trading at a massive discount to its net cash and the company appears overcapitalized, not undercapitalized. We wonder why you think it is smart to issue equity at these prices?</li>
<li>You initiated a strategic review process to "promote growth and maximize shareholder value." To be clear, we have never, ever, seen such a dual mandate review process like the one you have initiated. We believe your primary fiduciary responsibility is to maximize shareholder (which can be accomplished in many ways including growing the company, shrinking the company or liquidating the company). Therefore, we are surprised that the review process is not limited to only maximizing shareholder value and that it also includes a mandate to "promote growth" (which may actually destroy shareholder value).</li>
</ol>
It is abundantly clear to us that it would be in shareholders' best interests if you were to immediately liquidate the company. We see no reason for NURO to remain public because the company is too small, its products have questionable growth prospects, corporate overhead is ridiculously high and the investment community has little confidence in your ability and/or desire to create shareholder value. Liquidating the company today would return the greatest amount of capital to shareholders in the shortest amount of time while exposing shareholders to the least amount of risk.
We believe you may be tempted to merge NURO with another company; However, we believe that would be a terrible mistake because it would be highly risky and would return no capital to your long-suffering shareholders.
Considering how much money shareholders have lost under your leadership and how much money you have personally made while shareholders have suffered greatly, we doubt many shareholders would be supportive of NURO remaining public and making an acquisition. We believe shareholders would overwhelmingly support our suggestion to immediately liquidate the company and return all proceeds to shareholders.
We hope you will accept our advice and immediately announce a liquidation plan without us having to take additional public action. If you have any questions, please do not hesitate to contact us.
Sincerely,
Ephraim Fields Echo Lake Capital

Management

Echo Lake Capital Calls For The Liquidation Of Neurometrix, Inc. "Notes Tremendous Destruction Of Shareholder Value Under Co's Leadership; Sees No Reason For Co To Remain Public"

NeuroMetrix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NURO#NASDAQ">NURO</a>) reported quarterly losses of $(1.43) per share. This is a&nbsp;decrease over losses of $(0.73) per share from the same period last year. The company reported $1.32 million in sales this quarter. This is a 28.70 percent decrease over sales of $1.85 million the same period last year.

NeuroMetrix Q4 EPS $(1.43) Down From $(0.73) YoY, Sales $1.32M Down From $1.85M YoY

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NeuroMetrix (NASDAQ:NURO) Stock, Quote.Headers.trade-ideas