Neurometrix Inc. (NASDAQ:NURO)
Neurometrix Inc. (NASDAQ:NURO) has been awarded a new U.S patent for its Quell Wearable Pain Technology. The new patent covers mechanisms that people can use for long-term pain relief therapy. The U.S patent builds on the Notice of Allowance issued, last month, by the European Patent Office and the Japan Patent Office.
Optimizing Nerve Stimulation
The U.S patent covers the use of real-time accelerometers to enable advanced features such as automatic electrical nerve stimulation. The new features enable patients to sleep while receiving regulated neuro-stimulation.
“We are pleased to have received this latest patent for Quell Wearable Pain Relief Technology. Quell is unique in the fact that the technology is designed for 24/7 therapy. We know from the Quell Health Cloud data that most of our users wear Quell for a substantial portion of the day to help them manage their chronic pain. The technology in this patent helps us ensure that this usage is both safe and effective,” said Neurometrix Inc. (NASDAQ:NURO) CEO, Shai Gozani.
The Notice of Allowance in Europe, Japan, and China addresses a new feature in the wearable device. Neurometrix Inc. (NASDAQ:NURO) claims the new feature will enable optimization of pain relief through nerve stimulation. The patent application also covers a calibration procedure that can customize the nerve stimulation.
Expanding Target Market
Neurometrix’s Chief Executive Officer expects the Notice of Allowance to expand Quell’s target market. Plans are already underway to ink deals with strategic partners as the company moves to target customers in the three markets.
Quell Wearable Relief Technology is growing in popularity all over the world thanks to its pain-relief abilities. Neurometrix Inc. (NASDAQ:NURO) was recently awarded the New England Innovation Award for the development of a device that has the ability to address the needs of millions of people struggling with chronic pain.
“We are excited that our innovative technology has been recognized. With 100 million Americans suffering pain, and a high level of consumer dissatisfaction with current treatments such as prescription opioids, Quell is an innovation that is making a meaningful difference in people’s lives,” said Mr. Gozani.
Separately, Neurometrix Inc. (NASDAQ:NURO) completed a one-for-eight reverse split of its common stock. The split seeks to increase the value of the per share trading price to satisfy NASDAQ’S $1 minimum bid price.
Neurometrix Inc. (NASDAQ:NURO) shed 3.03% in Tuesday’s trading session to end the day at $3.20 a share.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Monica Grey has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.