NeuroMetrix: Set for worst day in over 10 yrs on disappointing Q4 revenue

NeuroMetrix

27/01/2020 15:14

** Shares of medical device maker  NURO.O  fall 32.2% to
two-month low of $3.22 - on track for their worst one-day pct
decline since 2008
    ** Co reports Q4 revenue of $1.7 mln, down ~54% from a year
earlier, hurt by a cut-back in advertising for its pain relief
device, Quell  urn:newsml:reuters.com:*:nGNX4psZRV
    ** "Although we were disappointed by the overall drop in
revenue from the year-ago period, we expected this outcome" -
CEO Shai Gozani
    ** Says it is focused on cost-efficient advertising for
Quell and believes device is an attractive, long-term
opportunity for co 
    ** Sales of co's test for carpal tunnel syndrome, Advance,
also fell marginally to $280,000 from $300,000 a year ago
    ** Including session's loss, shares have fallen ~66% in last
12 months

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com ; +91 80 6182 2766))