Shai Gozani is a brilliant biomedical engineer, but he has made several missteps with NURO in the past by hiring the wrong people. Seven years ago, this was a high flying stock. They aggressively sold a remote sensor device that could detect carpal tunnel nerve injury. While it was a useful diagnostic tool, the marketing director at the time appealed to primary care physicians' sense of larceny which gave them huge profits on the superbill for any patient who walked in the door. The neurologists, protecting their turf, went crazy and lobbied to get Medicare reimbursement reversed. Third party payers also dropped out and the Company had to pay a big fine that wrecked their balance sheet. The neurologists who made a big chunk of their money, fee for service doing painful EMG tests got to keep their business.
Then NURO tried to sell direct to consumer the diabetic neuropathy diagnostic tests. They had no experience in selling to consumers and the test bombed. The Company still gets minimal legacy revenues from the aforementioned tests, but it doesn't bring them enough cash to keep operations going. During this period they went through several reverse splits.
So if you bought the stock today for $2, it was once prior to reverse splits, worth about $300 per share.
The technology for these devices, if they fall into the right salespeoples' hands, is still good.
The device that everyone is excited about right now is their galvanic nerve stimulator. It's the only FDA approved device that can be used at night. This is a big deal because painful nights have a huge impact on quality of life. This device is a winner, but it's only starting to ramp. If they can sell it to other health professionals, who sell devices out of their offices, like chiros, podiatrists and cash hungry primary care physicians, it will gain traction against the competition. Market cap is still cheap. They already did a raise and a reverse split this year, and you're buying shares at the same price.
Beckman Coulter already has made the offer, I also heard Instrumentation Laboratory is in the mix. The revenue would be significant if they contract with BC as a supplier. I mean serious cash!!!!
YES, but a recent BOD member is the FORMER PRESIDENT OF LIFESCAN which SOLD its diabetic testing supplies company to JNJ FOR BIG MONEY.. Don't think he'd come on board and buy stock to a losing company..He is in it to win it.. or perhaps he can get JNJ to have an interest in it.. he has got the connections..Mr. Van Avermaete has over 30 years of experience in medical devices, including 22 years in the diabetes field, with specific expertise in consumer healthcare marketing and sales, including retail/pharmacy distribution, large scale customer service, physician recommendations and hospital-based marketing. He is a former US president of the LifeScan division of Johnson & Johnson who, during his 13 year tenure, grew annual sales from under $100 million to over $1.0B developing the business into one of J&J's most successful and profitable consumer/professional healthcare divisions.
Sentiment: Strong Buy
Why not ? many stocks was dead before jumping to the moon solar stocks is an example .
ultra low floats is the new trend to make quick big money so you should be happy to be here before the real run starts .
Sentiment: Strong Buy