NeuroMetrix, Inc. (NASDAQ: NURO) is experiencing a significant surge in its stock value during the current trading session, marking a notable 17.13% increase, with shares trading at $4.25 as of the last check. This uptick in NURO stock price closely followed the revelation by the company of steps taken to enhance shareholder value.
NeuroMetrix (NURO) unveiled measures to bolster shareholder value today, spurred by insights and counsel from one of its prominent stakeholders, Ephraim Fields of Echo Lake Capital. The NeuroMetrix Board ratified the selection of Joshua S. Horowitz as a fresh independent director for a one-year term.
Mr. Horowitz brings to the table a wealth of experience as a seasoned investor spanning over 22 years, notably serving as a portfolio manager at Palm Management (US) LLC since January 2012. Additionally, he assumed the role of Director at Barnwell, Inc. in February 2023 and was appointed chairman of the Board of Directors at BK Technologies in December 2023.
His extensive investment acumen and boardroom proficiency, especially within the realm of micro and small cap enterprises, render him particularly apt to guide NeuroMetrix through its ongoing strategic assessment. In parallel, NeuroMetrix has opted to discontinue its at-the-market (ATM) equity arrangement previously established with Ladenburg Thalmann & Co., Inc. on October 22, 2021.
Highlighting recent developments, NeuroMetrix underscored a substantial study corroborating the efficacy of DPNCheck in conjunction with standard EKG or as a standalone tool for accurate detection of diabetic peripheral neuropathy (DPN). Hayashi and collaborators scrutinized 167 patients afflicted with Type 1 or Type 2 diabetes, employing a gold standard nerve conduction study as the reference for DPN diagnosis.
By leveraging DPNCheck measurements, patient age, and the coefficient of variation of R-R intervals (CVR-R)—a metric assessing autonomic function standardly generated by EKG machines—the authors derived a predictive algorithm. The amalgamation of DPNCheck with CVR-R exhibited robust diagnostic efficacy, as evidenced by an area under the receiver operating curve (AUC) of 0.88.
Similarly robust performance was observed when DPNCheck was employed in isolation. The authors concluded that integrating DPNCheck with electrocardiography simplifies the diagnosis of DPN, rendering it widespread, reproducible, and dependable.