NeuroMetrix Shares Jump Premarket on Key FDA Designation for Quell
January 18 2022 - 9:49AM
Dow Jones News
By Colin Kellaher
Shares of NeuroMetrix Inc. rose sharply in premarket trading
Tuesday after the U.S. Food and Drug Administration granted
breakthrough-device designation to the company's Quell technology
for the treatment of a complication of chemotherapy.
The Woburn, Mass., maker of medical devices said the designation
covers use of the wearable neuromodulator for reducing moderate to
severe symptoms of chemotherapy-induced peripheral neuropathy that
have persisted for at least six months after the end of
chemotherapy.
The FDA's breakthrough-devices program aims to expedite the
development and review of technology that offers significant
advantages over existing approved products.
NeuroMetrix said it expects an ongoing study of the Quell device
in chemotherapy-induced peripheral neuropathy to be completed by
the end of the year.
NeuroMetrix shares, which closed Friday at $4.92, were recently
up 18.1% to $5.81 in premarket trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 18, 2022 09:34 ET (14:34 GMT)
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