NeuroMetrix Reaches Milestone

Zacks

Nerve testing devices maker NeuroMetrix (NasdaqCM:NURO - News) recently reached a commercial milestone as it has booked the 100th order for its new NC-stat DPNCheck test. The Massachusetts-based company unveiled the test at the annual conference of the American Diabetes Association (“ADA”) in San Diego, California, in July 2011. Commercial shipment of the product began in September 2011.

The NC-stat DPNCheck test has been designed for evaluating systemic neuropathies such as diabetic peripheral neuropathy (“DPN”). It is a modified version of NeuroMetrix’s popular NC-stat device for detecting DPN.

DPN, a common and serious complication of diabetes, affects roughly 60%-70% of diabetics and may lead to foot ulcers and amputations. Total annual health care costs associated with DPN in the U.S. are more than $11 billion.

The NC-stat DPNCheck measures the standard biomarkers for DPN such as sural nerve conduction velocity and amplitude. The device is expected to help in the early detection, confirmation, and monitoring of DPN in a cost-effective manner at the point-of-care, thereby enabling NeuroMetrix to address the unmet need for a widely available, standardized test for this condition.

According to NeuroMetrix, the novel test has received encouraging initial response with roughly 200 physicians in 100 medical practices are currently using it to improve DPN management. Most of these users are endocrinologists and podiatrists. The company hopes that the NC-stat DPNCheck will eventually achieve broad adoption across the U.S. and international markets.

NeuroMetrix, in early 2011, modified its operational focus in favor of diabetes, in particular the diagnosis and monitoring of DPN. Moreover, the company, in March 2011, established a scientific advisory board for its DPN test. NeuroMetrix, during its third quarter earnings call, noted that it has hired, trained and deployed a specialized sales team focused on the U.S. endocrinology and podiatry markets, which consist of roughly 15,000 physicians.

NeuroMetrix makes devices that help physicians detect and treat diseases and peripheral nerve injuries, and offer regional anesthesia and pain control. The company’s principal products are ADVANCE and NC-stat devices for nerve conduction study (“NCS”). NeuroMetrix competes with Medtronic (NYSE:MDT - News) among others.

Zacks Investment Research



More From Zacks.com
View Comments (0)