10 Best Diabetes Stocks To Buy Under $10

5. NeuroMetrix, Inc. (NASDAQ:NURO)

Share Price as of the Close of December 26: $3.9

NeuroMetrix, Inc. (NASDAQ:NURO) specializes in non-invasive medical devices focused on neurostimulation and digital medicine, with a primary aim to improve health by managing chronic pain, nerve diseases, and sleep disorders.

NeuroMetrix, Inc. (NASDAQ:NURO) has established itself as a key player in the medical technology sector with innovative solutions like DPNCheck, a diagnostic tool for detecting peripheral neuropathies linked to diabetes, and Quell, a wearable device for chronic pain relief. The company also previously marketed the ADVANCE system for in-office nerve conduction studies. In January 2023, NeuroMetrix launched DPNCheck 2.0, an upgraded version with a touchscreen interface designed for easier use and broader adoption in healthcare settings.

In December 2024, electroCore announced plans to acquire NeuroMetrix, Inc. (NASDAQ:NURO), targeting the Quell platform for treating fibromyalgia and chronic pain, a move that enhances electroCore’s standing in bioelectronic health. Meanwhile, the company continues to expand its Quell Fibromyalgia business through targeted marketing to physicians and sales to VA facilities, reflecting its dedication to advancing non-invasive neurotechnology.

In Q3 2024, NeuroMetrix, Inc. (NASDAQ:NURO) reported a 51% revenue decline to $0.6 million, primarily due to a 58% drop in DPNCheck revenue, which was impacted by challenges in the Medicare Advantage market. DPNCheck, used for diagnosing peripheral neuropathies in diabetes patients, faced significant setbacks. However, revenue from the Quell neurostimulation device rose by 50%, driven by increased sales in Quell Fibromyalgia and Quell Relief. Gross profit decreased to $0.3 million, and operating expenses were reduced by 25% to $2.1 million. The net loss for the quarter was $1.5 million, an improvement from the previous year’s loss. As of September 30, 2024, NeuroMetrix, Inc. (NASDAQ:NURO) had $14.8 million in cash and cash equivalents.