On Friday 19 July 2k19, NeuroMetrix, Inc. (NASDAQ:NURO) has shown upward/downward move of +3.65% and ended the last trade at $0.3980. The trading volume was recorded to 67,549 shares as compared to average traded volume of 210,319 shares. The stock as of last trading session moved 12.11% up from its 52 week low and was -71.57% behind its 52 week high.
NeuroMetrix, Inc. (NURO) recently stated financial and business highlights for the quarter ended June 30, 2k19.
Highlights:
Financials:
The Company has 8.54 million shares outstanding and 8.53 million shares were floated in market. The short ratio in the company's stock is documented at 1.10 and the short float is around of 2.70%. The average true range of the stock is observed at 0.06 and the relative strength index of the stock is recorded at 37.53.
NeuroMetrix, Inc. (NURO) recently stated financial and business highlights for the quarter ended June 30, 2k19.
Highlights:
- Quell revenues in Q2 2k19 were $0.8M, a sequential decline from $1.6M in FIRST QUARTER 2k19 and from $2.1M in Q2 2k18. The decline in revenue reflects the effects of reduced advertising spending.
- DPN Check revenues in Q2 2k19 were $1.2M, up 7% sequentially from FIRST QUARTER 2k19 and about flat with Q2 2k18. Revenue from the Medicare Advantage market grew 33% from the year earlier quarter.
- Alliance income from GlaxoSmithKline totaled $1.4M in Q2 2k19, reflecting the achievement of two Quell development milestones.
- The Company has initiated a process to evaluate a potential divestiture of its DPN Check product line. Back Bay Life Science Advisors, Inc. has been retained as its advisor to lead the process.
- Before, the Company stated a restructuring to improve business alignment and conserve cash. The restructuring involved a reduction in force, plans to consolidate operations in a single location, and a write down of excess inventory. A charge of $2.3M was recorded to cover associated costs. Ladenburg Thalmann & Co. Inc. was retained as financial advisor to explore planned alternatives to enhance shareholder value, including the potential sale or merger of the company.
- Cash at June 30, 2k19 totaled $4.96M.
Financials:
In Q2 2k19 total revenues were $2.4M versus $3.8M in the previous year period, a decrease of 37%. Gross margin was a negative $0.8M after recording an inventory charge of $1.9M. Not Including the inventory charge, gross margin of $1.1M represented a gross margin rate of 47.0% in comparison with the gross margin rate of 48.0% in Q2 2k18. Operating expenses were $4.0M and included restructuring charges totaling $0.4M related to severance and relocation costs. Alliance income from GSK totaled $1.4M in comparison with $3.7M in Q2 2k18. Net income (loss) was ($3.4)M contrast to $0.6M in Q2 2k18. Net cash usage in operations was $3.1M versus $2.7M in Q2 2k18. The Company ended the quarter with cash of $4.96M.
The Company has 8.54 million shares outstanding and 8.53 million shares were floated in market. The short ratio in the company's stock is documented at 1.10 and the short float is around of 2.70%. The average true range of the stock is observed at 0.06 and the relative strength index of the stock is recorded at 37.53.
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