NEW YORK (TheStreet) -- NeuroMetrix (NURO) shares are up 7.46% to $1.01 on heavy volume trading on Monday after the medical device company announced the full commercial launch of its over-the-counter wearable chronic pain relief device, Quell.
Quell is a patented, drug-free wearable device that uses non-invasive nerve stimulation technology to relieve chronic pain.
"There are an estimated 100 million people living with chronic pain in the U.S...I am excited by the possibilities non-medication options like wearable transcutaneous electrical nerve stimulation (TENS) devices can provide people living with chronic pain, particularly because they do not carry a risk of opioid dependence and side effects, and do not require invasive surgeries," said pain specialist Dr. Paul Christo.
The device is worn just below the knee and works by triggering a central inhibition effect that decreases the intensity of pain signals by stimulating the sensory nerves, eventually leading the brain to release opioids that reduce pain signal transmission.
TheStreet Ratings team rates NEUROMETRIX INC as a Sell with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:
"We rate NEUROMETRIX INC (NURO) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself."