Health and Healthcare
Can NeuroMetrix Turn Itself Around?
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NeuroMetrix Inc. (NASDAQ: NURO) might be turning itself around with the launch of its system for detecting diabetic neuropathy. On Tuesday morning, the company reported the commercial launch of its DPNCheck in Mexico. The initial DPNCheck order will be utilized by one of Mexico’s six major government health care institutions to improve the detection of diabetic neuropathy and advance the overall management of diabetes in its patient population.
Mexico has one of the highest rates of type 2 diabetes in the world, with about 12% of the adult population diagnosed. The disease results in 70,000 deaths per year, making diabetes the leading cause of death for Mexico. The prevalence of diabetes is projected to continue to increase in the coming years.
For some background: DPNCheck is a quantitative nerve conduction test that is used by physicians and health care professionals to evaluate systemic neuropathies such as diabetic peripheral neuropathy (DPN). It is designed to be used at the point-of-care to objectively detect, stage and monitor DPN. The device measures nerve conduction velocity and response amplitude of the sural nerve, a nerve in the lower leg and ankle. These parameters are recognized as sensitive and specific biomarkers of DPN.
Michael MacDonald, NeuroMetrix Senior Vice President of Commercial Operations, commented:
Mexico is a very important component of our international strategy for DPNCheck and we believe this initial sale will help accelerate Scienta Farma’s efforts to expand DPNCheck adoption within the other major government healthcare institutions.
Alberto Elias Fernandez, Executive Vice President of Scienta Farma, said:
DPNCheck is a significant clinical advance for the care of diabetic patients in Mexico. We are excited to be partnering with NeuroMetrix to bring this important technology to clinicians in Mexico.
As 2015 is coming to a close, NeuroMetrix has vastly underperformed the market, with the stock down roughly 70% year to date.
Shares of NeuroMetrix were trading up over 6% at $2.45 Tuesday, with a consensus analyst price target of $9.00 and a 52-week trading range of $2.17 to $8.20.
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