NeuroMetrix Plans Strategic Options To Promote Growth, Maximize Shareholder Value; Stock Drops

(RTTNews) - On Tuesday, medical device company NeuroMetrix, Inc. (NURO) said that it has reviewed strategic options for the growth of its Quell neuromodulation and DPNCheck neurodiagnostic businesses with maximum shareholder value.

The options include changes in marketing strategies, the acquisition of new assets, the potential sale of company assets, and merger or other strategic transactions, the company stated.

"We are also reviewing our DPNCheck business in light of the fundamental Medicare Advantage risk adjustment changes implemented by CMS last year", said Shai Gozani, CEO of NeuroMetrix. "We intend to continue carefully managing our liquid resources, optimizing cash flow and taking advantage of funding opportunities".

The company had engaged Ladenburg Thalmann & Co. as its financial advisor for assistance.

Currently, Neurometrix's stock is slipping 3.70 percent, to $3.25 on the Nasdaq.