NeuroMetrix stock more than triples on massive volume after fibromyalgia treatment gets FDA boost

1 year ago 156

Shares of NeuroMetrix Inc. NURO, +208.16% rocketed 241% toward a two-year precocious connected grounds volume, aft the Massachusetts-based aesculapian instrumentality institution said its Quell transcutaneous electrical nervus stimulator received "Breakthrough Designation" from the Food and Drug Administration to dainty fibromyalgia symptoms successful adults. Trading measurement ballooned to 228.3 cardinal shares, compared with the full-day mean implicit the past 30 days of astir 125,600 shares, to marque the banal the biggest gainer and astir actively traded connected large U.S. exchanges. Fibromyalgia is simply a signifier of chronic symptom that affects 5 cardinal to 15 cardinal people, oregon 2% to 6% of the U.S. population, and is astir often diagnosed successful radical betwixt the ages of 30 and 50. Quell is simply a non-invasive wearable neurostimulator that provides flexible and precise nervus stimulation. Under the Breakthrough Designation program, the FDA volition supply the institution with precedence reappraisal and interactive connection connected instrumentality improvement done commercialization. In addition, determination are authorities programs which whitethorn facilitate Medicare reimbursement. The banal has present rallied 251.9% twelvemonth to date, portion the SPDR Health Care Select Sector ETF XLV, +1.29% has gained 13.5% and the S&P 500 SPX, +1.63% has precocious 15.3%.

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