NeuroMetrix (NASDAQ:NURO) stock is on the rise Tuesday despite a lack of news concerning the company.
To go along with the increase to NURO stock, the company is seeing heavy trading of its shares. This has more than 57 million shares traded as of this writing. That’s a massive spike compared to its daily average trading volume of roughly 205,000 shares.
With the increase in trading of NURO stock, potential investors are likely eying the company. For those wanting to know more before diving in, here’s a quick breakdown of NeuroMetrix.
- The company’s focus is on developing and manufacturing “diagnostic and therapeutic neurostimulation-based medical devices.”
- Its goal is to use these devices to treat patients suffering from chronic diseases with the need for drugs with harmful side effects.
- That includes treating those suffering from chronic pain, as well as diabetes.
- Its lead product is Quell, which is an over-the-counter therapeutic device for chronic pain.
- Another of its products is DPNCheck, which is a “rapid point-of-care test for peripheral neuropathies.”
- NeuroMetrix was founded in 1996 as a spinoff from the Harvard-MIT Division of Health Sciences and Technology.
- It went public via an initial public offering (IPO) in 2004.
- It has raised roughly $105 million since its IPO via several rounds of funding,
- The most recent of these took place in October 2017 and brought in $3.5 million.
- The company is based out of Waltham, Mass.
NURO stock was up 51.7% as of noon Tuesday.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.