NeuroMetrix reports Q1 EPS (20c) vs. (14c) last year

Reports Q1 revenue $1.7M vs. $2.3M last year. "We were disappointed by the suspension of DPNCheck and other screening tests by our largest Medicare Advantage customer. At this time, we do not know if this is a temporary or permanent decision. More broadly, the entire Medicare Advantage sector is going through a period of substantial uncertainty due to policy changes recently announced by the Centers for Medicare and Medicaid Services. These changes are extensive and put downward pressure on DPNCheck revenues, although it is too early to determine the duration and magnitude of the impact. Despite these challenges, we believe that the Medicare Advantage DPNCheck market is a compelling opportunity and are working to adapt our commercial strategy to the evolving landscape," said Shai N. Gozani, M.D., Ph.D., Chief Executive Officer of NeuroMetrix. "We are encouraged by the feedback from our Quell Fibromyalgia strategic launch. Fibromyalgia is a debilitating chronic pain syndrome affecting as many as 10 million people in the U.S. There is an unmet need for better treatments. As emphasized by its recognition as a breakthrough device by the FDA, Quell Fibromyalgia can help address this gap by providing a safe and drug-free neuromodulation option. In just over 3-months and without a field sales presence, about 90 providers, including rheumatologists, pain medicine specialists, neurologists and primary care physicians, have written prescriptions for Quell Fibromyalgia. We are analyzing this early experience and will soon finalize the next phase of our commercialization strategy."