NURO: NeuroMetrix shares surge 30% as FDA approves
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Posted On: 07/08/2014 11:06:59 AM
NURO: NeuroMetrix shares surge 30% as FDA approves pain treatment for OTC use 7/8/14
NEW YORK (MarketWatch) -- Shares of health-care microcap NeuroMetrix Inc (NURO) surged 30% in premarket trade Tuesday, after the U.S. Food and Drug Administration approved its wearable technology for the treatment of chronic pain for over-the-counter use. The technology is deployed in the company's Sensus pain management system, which uses electrical stimulation of sensory nerves for pain relief. The FDA clearance will allow the company to market the treatment without a prescription requirement. "We believe that there is a substantial consumer market for an over-the-counter version of this technology," said Chief Executive Shai N. Gozani. The company is expecting to launch the OTC product in 2015.
-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com
> Dow Jones Newswires
July 08, 2014 07:46 ET (11:46 GMT)
Copyright (c) 2014 Dow Jones & Company, Inc.
NEW YORK (MarketWatch) -- Shares of health-care microcap NeuroMetrix Inc (NURO) surged 30% in premarket trade Tuesday, after the U.S. Food and Drug Administration approved its wearable technology for the treatment of chronic pain for over-the-counter use. The technology is deployed in the company's Sensus pain management system, which uses electrical stimulation of sensory nerves for pain relief. The FDA clearance will allow the company to market the treatment without a prescription requirement. "We believe that there is a substantial consumer market for an over-the-counter version of this technology," said Chief Executive Shai N. Gozani. The company is expecting to launch the OTC product in 2015.
-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com
> Dow Jones Newswires
July 08, 2014 07:46 ET (11:46 GMT)
Copyright (c) 2014 Dow Jones & Company, Inc.
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