WALTHAM, Mass.--(EON: Enhanced Online News)--NeuroMetrix, Inc. (the "Company") (Nasdaq: NURO, NUROW) reported Q4 2016 demand highlights for its Quell® Wearable Pain Relief Technology™. During Q4 2016 the invoiced value of Quell shipments totaled approximately $3.5 million, an increase of 19% from $2.9 million reported in Q3 2016. This was the 7th consecutive quarter of sequential growth since commercial launch in 2015. The Quell invoiced value in Q4 2016 reflects shipments of approximately 14,300 devices and 20,000 reorder electrodes, a growth rate of 18% in devices and 39% in electrodes from Q3 2016. To date, the Company has shipped nearly 60,000 devices.
Today at 11:30 am (Pacific Time), Shai N. Gozani M.D., Ph.D., President and Chief Executive Officer, will discuss Quell and the Company's business activities at the 9th annual Biotech Showcase Conference at the Hilton San Francisco Union Square. A live audio webcast will be available on the investor relations section of the corporate website - www.neurometrix.com.
The Company intends to report its financial results for the fourth quarter and full year 2016 on January 26, 2017.
Quell is designed for millions of people suffering from chronic pain. The advanced wearable device is lightweight and can be worn during the day while active, and at night while sleeping. It has been cleared by the FDA for treatment of chronic pain without a prescription. In a recent study, 81% of Quell users reported an improvement in their chronic pain. Quell users can personalize and manage therapy discreetly via the Quell Relief app. Quell also offers advanced health tracking relevant to chronic pain sufferers including pain, sleep, activity, and gait. Quell was the winner of the 2016 SXSW (South by Southwest) Innovation Award for Best Wearable Technology. Quell is available at select healthcare professionals and retailers. Visit QuellRelief.com for more information.
NeuroMetrix is a commercial stage, innovation driven healthcare company combining bioelectrical and digital medicine to address chronic health conditions including chronic pain, sleep disorders, and diabetes. The company's lead product is Quell, an over-the-counter wearable therapeutic device for chronic pain. Quell is integrated into a digital health platform that helps patients optimize their therapy and decrease the impact of chronic pain on their quality of life. The company also markets DPNCheck®, a rapid point-of-care test for diabetic neuropathy, which is the most common long-term complication of Type 2 diabetes. The company maintains an active research effort and has several pipeline programs, including a therapeutic device for restless leg syndrome. The company is located in Waltham, Massachusetts and was founded as a spinoff from the Harvard-MIT Division of Health Sciences and Technology in 1996. For more information, please visit www.NeuroMetrix.com.