We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
NeuroMetrix Inc | NASDAQ:NURO | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 4.37 | 4.36 | 4.43 | 4.52 | 4.35 | 4.37 | 2,409 | 17:03:09 |
x
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
¨
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Delaware
|
04-3308180
|
(State or other jurisdiction of
|
(I.R.S. Employer Identification No.)
|
incorporation or organization)
|
|
|
|
4B Gill Street Woburn, Massachusetts
|
01801
|
(Address of principal executive offices)
|
(Zip Code)
|
Title of each class
|
Trading Symbol(s)
|
Name of exchange on which registered
|
Common Stock, $0.0001 par value per share
|
NURO
|
The Nasdaq Stock Market LLC
|
Preferred Stock Purchase Rights
|
|
|
Large accelerated filer ¨
|
Accelerated filer ¨
|
Non-accelerated filer ¨
|
Smaller reporting company x
|
|
|
|
Emerging growth company ¨
|
|
|
||
|
|
|
|
Item 1.
|
|
|
|
|
|
|
|
|
Balance Sheets as of September 30, 2020 (unaudited) and December 31, 2019
|
|
|
|
|
|
|
|
Statements of Operations (unaudited) for the Quarters and Nine Months Ended September 30, 2020 and 2019
|
|
|
|
|
|
|
|
Statement of Changes in Stockholders' Equity (unaudited) for the Quarters and Nine Months Ended September 30, 2020 and 2019
|
|
|
|
|
|
|
|
Statements of Cash Flows (unaudited) for the Nine Months Ended September 30, 2020 and 2019
|
|
|
|
|
|
|
|
|
||
|
|
|
|
Item 2.
|
13
|
|
|
|
|
|
|
Item 3.
|
21
|
|
|
|
|
|
|
Item 4.
|
21
|
|
|
|
|
|
|
|
|
||
|
|
|
|
Item 1.
|
22
|
|
|
|
|
|
|
Item 1A.
|
22
|
|
|
|
|
|
|
Item 2.
|
22
|
|
|
|
|
|
|
Item 3.
|
22
|
|
|
|
|
|
|
Item 4.
|
22
|
|
|
|
|
|
|
Item 5.
|
22
|
|
|
|
|
|
|
Item 6.
|
22
|
|
|
|
|
|
|
23
|
|
|
September 30, 2020
|
|
December 31, 2019
|
||||
|
(Unaudited)
|
|
|
||||
Assets
|
|
|
|
|
|
||
Current assets:
|
|
|
|
|
|
||
Cash and cash equivalents
|
$
|
4,929,175
|
|
|
$
|
3,126,206
|
|
Accounts receivable, net
|
633,146
|
|
|
298,967
|
|
||
Inventories
|
1,050,293
|
|
|
1,163,714
|
|
||
Collaboration receivable
|
—
|
|
|
189,008
|
|
||
Prepaid expenses and other current assets
|
677,526
|
|
|
652,919
|
|
||
Total current assets
|
7,290,140
|
|
|
5,430,814
|
|
||
|
|
|
|
||||
Fixed assets, net
|
205,676
|
|
|
273,448
|
|
||
Right to use asset
|
815,558
|
|
|
1,159,774
|
|
||
Other long-term assets
|
28,664
|
|
|
29,650
|
|
||
Total assets
|
$
|
8,340,038
|
|
|
$
|
6,893,686
|
|
|
|
|
|
||||
Liabilities and Stockholders’ Equity
|
|
|
|
|
|
||
Current liabilities:
|
|
|
|
|
|
||
|
|
|
|
||||
Accounts payable
|
$
|
192,356
|
|
|
$
|
725,658
|
|
Accrued expenses and compensation
|
1,011,228
|
|
|
1,443,574
|
|
||
Accrued product returns
|
586,000
|
|
|
689,000
|
|
||
Lease obligation, current
|
596,779
|
|
|
588,546
|
|
||
Total current liabilities
|
2,386,363
|
|
|
3,446,778
|
|
||
|
|
|
|
||||
Lease obligation, net of current portion
|
581,903
|
|
|
916,674
|
|
||
Total liabilities
|
2,968,266
|
|
|
4,363,452
|
|
||
|
|
|
|
||||
Commitments and contingencies
|
|
|
|
|
|
||
|
|
|
|
||||
Stockholders’ equity:
|
|
|
|
|
|
||
Preferred stock
|
—
|
|
|
—
|
|
||
Convertible preferred stock
|
1
|
|
|
1
|
|
||
Common stock, $0.0001 par value; 25,000,000 shares authorized at September 30, 2020 and December 31, 2019; 3,784,657 and 1,400,674 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively
|
378
|
|
|
140
|
|
||
Additional paid-in capital
|
201,927,426
|
|
|
197,319,698
|
|
||
Accumulated deficit
|
(196,556,033
|
)
|
|
(194,789,605
|
)
|
||
Total stockholders’ equity
|
5,371,772
|
|
|
2,530,234
|
|
||
Total liabilities and stockholders’ equity
|
$
|
8,340,038
|
|
|
$
|
6,893,686
|
|
|
Quarters Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
|
2020
|
|
2019
|
|
2020
|
|
2019
|
||||||||
|
|
|
|
|
|
|
|
||||||||
Revenues
|
$
|
2,036,228
|
|
|
$
|
2,088,001
|
|
|
$
|
5,568,243
|
|
|
$
|
7,565,619
|
|
|
|
|
|
|
|
|
|
||||||||
Cost of revenues
|
537,614
|
|
|
914,322
|
|
|
1,652,890
|
|
|
6,382,340
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Gross profit
|
1,498,614
|
|
|
1,173,679
|
|
|
3,915,353
|
|
|
1,183,279
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Research and development
|
652,671
|
|
|
475,137
|
|
|
1,846,569
|
|
|
2,365,139
|
|
||||
Sales and marketing
|
340,927
|
|
|
647,719
|
|
|
1,144,389
|
|
|
4,046,956
|
|
||||
General and administrative
|
762,903
|
|
|
1,462,887
|
|
|
2,693,146
|
|
|
4,646,932
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Total operating expenses
|
1,756,501
|
|
|
2,585,743
|
|
|
5,684,104
|
|
|
11,059,027
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Loss from operations
|
(257,887
|
)
|
|
(1,412,064
|
)
|
|
(1,768,751
|
)
|
|
(9,875,748
|
)
|
||||
|
|
|
|
|
|
|
|
||||||||
Other income:
|
|
|
|
|
|
|
|
||||||||
Collaboration income
|
—
|
|
|
—
|
|
|
—
|
|
|
7,116,667
|
|
||||
Other income
|
774
|
|
|
7,464
|
|
|
2,323
|
|
|
42,797
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Total other income
|
774
|
|
|
7,464
|
|
|
2,323
|
|
|
7,159,464
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Net loss
|
$
|
(257,113
|
)
|
|
$
|
(1,404,600
|
)
|
|
$
|
(1,766,428
|
)
|
|
$
|
(2,716,284
|
)
|
|
|
|
|
|
|
|
|
||||||||
Net loss per common share applicable to common stockholders, basic and diluted
|
$
|
(0.07
|
)
|
|
$
|
(1.44
|
)
|
|
$
|
(0.64
|
)
|
|
$
|
(3.06
|
)
|
|
Series B Convertible Preferred Stock
|
|
Common
Stock |
|
Additional
Paid-In Capital |
|
Accumulated
Deficit |
|
Total
|
||||||||||||||||
|
Number of
Shares |
|
Amount
|
|
Number of
Shares |
|
Amount
|
|
|
|
|||||||||||||||
Balance at December 31, 2019
|
200.00
|
|
|
$
|
1
|
|
|
1,400,674
|
|
|
$
|
140
|
|
|
$
|
197,319,698
|
|
|
$
|
(194,789,605
|
)
|
|
$
|
2,530,234
|
|
Stock-based compensation expense
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
144,047
|
|
|
—
|
|
|
144,047
|
|
|||||
Issuance of common stock under at the market offering
|
—
|
|
|
—
|
|
|
256,078
|
|
|
25
|
|
|
453,432
|
|
|
—
|
|
|
453,457
|
|
|||||
Issuance of common stock to settle compensation obligations
|
—
|
|
|
—
|
|
|
31,000
|
|
|
3
|
|
|
43,748
|
|
|
—
|
|
|
43,751
|
|
|||||
Net loss
|
|
|
—
|
|
|
|
|
|
|
|
|
(657,371
|
)
|
|
(657,371
|
)
|
|||||||||
Balance at March 31, 2020
|
200.00
|
|
|
$
|
1
|
|
|
1,687,752
|
|
|
$
|
168
|
|
|
$
|
197,960,925
|
|
|
$
|
(195,446,976
|
)
|
|
$
|
2,514,118
|
|
Stock-based compensation expense
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
128,862
|
|
|
—
|
|
|
128,862
|
|
|||||
Issuance of common stock under at the market offering
|
—
|
|
|
—
|
|
|
2,092,541
|
|
|
209
|
|
|
3,689,765
|
|
|
—
|
|
|
3,689,974
|
|
|||||
Issuance of common stock under employee stock purchase plan
|
—
|
|
|
—
|
|
|
4,364
|
|
|
1
|
|
|
7,605
|
|
|
—
|
|
|
7,606
|
|
|||||
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(851,944
|
)
|
|
(851,944
|
)
|
|||||
Balance at June 30, 2020
|
200.00
|
|
|
$
|
1
|
|
|
3,784,657
|
|
|
$
|
378
|
|
|
$
|
201,787,157
|
|
|
$
|
(196,298,920
|
)
|
|
$
|
5,488,616
|
|
Stock-based compensation expense
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
140,269
|
|
|
—
|
|
|
140,269
|
|
|||||
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(257,113
|
)
|
|
(257,113
|
)
|
|||||
Balance at September 30, 2020
|
200.00
|
|
|
$
|
1
|
|
|
3,784,657
|
|
|
$
|
378
|
|
|
$
|
201,927,426
|
|
|
$
|
(196,556,033
|
)
|
|
$
|
5,371,772
|
|
|
Series B – F
Convertible Preferred Stock |
|
Common
Stock |
|
Additional
Paid-In Capital |
|
Accumulated
Deficit |
|
Total
|
||||||||||||||||
|
Number of
Shares |
|
Amount
|
|
Number of
Shares |
|
Amount
|
|
|
|
|||||||||||||||
Balance at December 31, 2018
|
17,513.63
|
|
|
$
|
18
|
|
|
738,029
|
|
|
$
|
74
|
|
|
$
|
197,114,310
|
|
|
$
|
(191,016,591
|
)
|
|
$
|
6,097,811
|
|
Stock-based compensation expense
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
44,093
|
|
|
—
|
|
|
44,093
|
|
|||||
Issuance of common stock upon conversion of preferred stock
|
(2,445.90
|
)
|
|
(3
|
)
|
|
93,000
|
|
|
9
|
|
|
(6
|
)
|
|
—
|
|
|
—
|
|
|||||
Net income
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,050,507
|
|
|
2,050,507
|
|
|||||
Balance at March 31, 2019
|
15,067.73
|
|
|
$
|
15
|
|
|
831,029
|
|
|
$
|
83
|
|
|
$
|
197,158,397
|
|
|
$
|
(188,966,084
|
)
|
|
$
|
8,192,411
|
|
Stock-based compensation expense
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
19,933
|
|
|
—
|
|
|
19,933
|
|
|||||
Issuance of common stock upon conversion of preferred stock
|
(3,813.00
|
)
|
|
(4
|
)
|
|
144,981
|
|
|
15
|
|
|
(11
|
)
|
|
—
|
|
|
—
|
|
|||||
Issuance of common stock under employee stock purchase plan
|
—
|
|
|
—
|
|
|
2,148
|
|
|
1
|
|
|
7,496
|
|
|
—
|
|
|
7,497
|
|
|||||
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3,362,191
|
)
|
|
(3,362,191
|
)
|
|||||
Balance at June 30, 2019
|
11,254.73
|
|
|
$
|
11
|
|
|
978,158
|
|
|
$
|
99
|
|
|
$
|
197,185,815
|
|
|
$
|
(192,328,275
|
)
|
|
$
|
4,857,650
|
|
Stock-based compensation expense
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
120,460
|
|
|
—
|
|
|
120,460
|
|
|||||
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1,404,600
|
)
|
|
(1,404,600
|
)
|
|||||
Balance at September 30, 2019
|
11,254.73
|
|
|
$
|
11
|
|
|
978,158
|
|
|
$
|
99
|
|
|
$
|
197,306,275
|
|
|
$
|
(193,732,875
|
)
|
|
$
|
3,573,510
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30,
|
||||||
|
2020
|
|
2019
|
||||
Cash flows from operating activities:
|
|
|
|
|
|
||
Net loss
|
$
|
(1,766,428
|
)
|
|
$
|
(2,716,284
|
)
|
Adjustments to reconcile net loss to net cash used in operating activities:
|
|
|
|
|
|
||
Depreciation
|
67,772
|
|
|
98,166
|
|
||
Stock-based compensation
|
413,178
|
|
|
184,486
|
|
||
Settlement of compensation obligation
|
43,751
|
|
|
—
|
|
||
Impairment charge against right of use asset
|
280,000
|
|
|
—
|
|
||
Inventory provision
|
—
|
|
|
2,595,884
|
|
||
Changes in operating assets and liabilities:
|
|
|
|
|
|
||
Accounts receivable
|
(334,179
|
)
|
|
558,968
|
|
||
Inventories
|
113,421
|
|
|
(357,673
|
)
|
||
Collaboration receivable
|
189,008
|
|
|
(1,174,092
|
)
|
||
Prepaid expenses and other current and long-term assets
|
(23,621
|
)
|
|
189,092
|
|
||
Accounts payable
|
(533,302
|
)
|
|
(659,538
|
)
|
||
Accrued expenses and compensation
|
(694,668
|
)
|
|
115,752
|
|
||
Accrued product returns
|
(103,000
|
)
|
|
(438,352
|
)
|
||
Deferred collaboration income
|
—
|
|
|
(1,956,522
|
)
|
||
Net cash used in operating activities
|
(2,348,068
|
)
|
|
(3,560,113
|
)
|
||
|
|
|
|
||||
Cash flows from investing activities:
|
|
|
|
|
|
||
Purchases of fixed assets
|
—
|
|
|
(41,177
|
)
|
||
Net cash used in investing activities
|
—
|
|
|
(41,177
|
)
|
||
|
|
|
|
||||
Cash flows from financing activities:
|
|
|
|
|
|
||
Net proceeds from issuance of stock
|
4,151,037
|
|
|
7,497
|
|
||
Proceeds from debt issuance
|
773,200
|
|
|
—
|
|
||
Repayment of debt
|
(773,200
|
)
|
|
—
|
|
||
Net cash provided by financing activities
|
4,151,037
|
|
|
7,497
|
|
||
|
|
|
|
||||
Net increase (decrease) in cash and cash equivalents
|
1,802,969
|
|
|
(3,593,793
|
)
|
||
Cash and cash equivalents, beginning of period
|
3,126,206
|
|
|
6,780,429
|
|
||
Cash and cash equivalents, end of period
|
$
|
4,929,175
|
|
|
$
|
3,186,636
|
|
Supplemental disclosure of cash flow information:
|
|
|
|
|
|
||
Common stock issued to settle employee compensation
|
$
|
43,751
|
|
|
$
|
—
|
|
1.
|
Business and Basis of Presentation
|
2.
|
Comprehensive Income (Loss)
|
3.
|
Net Loss Per Common Share
|
|
Quarters Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
|
2020
|
|
2019
|
|
2020
|
|
2019
|
||||||||
Net loss applicable to common stockholders
|
$
|
(257,113
|
)
|
|
$
|
(1,404,600
|
)
|
|
$
|
(1,766,428
|
)
|
|
$
|
(2,716,284
|
)
|
|
|
|
|
|
|
|
|
||||||||
Weighted average number of common shares outstanding, basic
|
3,784,657
|
|
|
978,175
|
|
|
2,755,903
|
|
|
886,609
|
|
||||
Dilutive convertible preferred stock
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Weighted average number of common shares outstanding, dilutive
|
3,784,657
|
|
|
978,175
|
|
|
2,755,903
|
|
|
886,609
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Net loss per common share applicable to common stockholders, basic and diluted
|
$
|
(0.07
|
)
|
|
$
|
(1.44
|
)
|
|
$
|
(0.64
|
)
|
|
$
|
(3.06
|
)
|
|
Quarters Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||
|
2020
|
|
2019
|
|
2020
|
|
2019
|
||||
Options
|
162,373
|
|
|
40,396
|
|
|
163,303
|
|
|
45,777
|
|
Warrants
|
—
|
|
|
44,221
|
|
|
23,040
|
|
|
45,359
|
|
Convertible preferred stock
|
62
|
|
|
420,395
|
|
|
62
|
|
|
510,830
|
|
Total
|
162,435
|
|
|
505,012
|
|
|
186,405
|
|
|
601,966
|
|
4.
|
Inventories
|
|
September 30, 2020
|
|
December 31, 2019
|
||||
Purchased components
|
$
|
690,643
|
|
|
$
|
720,209
|
|
Finished goods
|
359,650
|
|
|
443,505
|
|
||
|
$
|
1,050,293
|
|
|
$
|
1,163,714
|
|
5.
|
Accrued Expenses and Compensation
|
|
September 30, 2020
|
|
December 31, 2019
|
||||
Technology fees
|
$
|
450,000
|
|
|
$
|
450,000
|
|
Professional services
|
291,000
|
|
|
454,000
|
|
||
Compensation
|
109,896
|
|
|
62,322
|
|
||
Advertising and promotion
|
6,000
|
|
|
68,000
|
|
||
Warranty
|
62,200
|
|
|
75,300
|
|
||
Other
|
92,132
|
|
|
333,952
|
|
||
|
$
|
1,011,228
|
|
|
$
|
1,443,574
|
|
6.
|
Leases
|
2020
|
|
160,797
|
|
|
2021
|
|
653,164
|
|
|
2022
|
|
247,347
|
|
|
2023
|
|
165,785
|
|
|
2024
|
|
165,785
|
|
|
2025
|
|
117,431
|
|
|
Total minimum lease payments
|
|
$
|
1,510,309
|
|
|
|
|
||
Weighted-average discount rate, 14.7%
|
|
$
|
331,627
|
|
Lease obligation, current portion
|
|
596,779
|
|
|
Lease obligation, net of current portion
|
|
581,903
|
|
|
|
|
$
|
1,510,309
|
|
7.
|
Business Restructuring
|
|
|
September 30, 2020
|
||
Severance obligations:
|
|
|
||
Provision
|
|
$
|
224,773
|
|
Amounts paid out
|
|
(224,773
|
)
|
|
Total
|
|
—
|
|
|
Relocation costs:
|
|
|
||
Provision
|
|
100,000
|
|
|
Amounts paid out
|
|
(100,000
|
)
|
|
Total
|
|
—
|
|
|
Impairment charge for idle facility
|
|
680,000
|
|
|
Amounts paid out
|
|
(280,000
|
)
|
|
Total
|
|
400,000
|
|
|
|
|
|
||
Balance - September 30, 2020
|
|
$
|
400,000
|
|
8.
|
Fair Value Measurements
|
|
|
|
Fair Value Measurements at September 30, 2020 Using
|
||||||||||||
|
September 30, 2020
|
|
Quoted Prices in
Active Markets for Identical Assets (Level 1) |
|
Significant Other
Observable Inputs (Level 2) |
|
Significant
Unobservable Inputs (Level 3) |
||||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Cash equivalents
|
$
|
2,159,475
|
|
|
$
|
2,159,475
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Total
|
$
|
2,159,475
|
|
|
$
|
2,159,475
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
|
|
Fair Value Measurements at December 31, 2019 Using
|
||||||||||||
|
December 31, 2019
|
|
Quoted Prices in
Active Markets for Identical Assets (Level 1) |
|
Significant Other
Observable Inputs (Level 2) |
|
Significant
Unobservable Inputs (Level 3) |
||||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Cash equivalents
|
$
|
698,807
|
|
|
$
|
698,807
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Total
|
$
|
698,807
|
|
|
$
|
698,807
|
|
|
$
|
—
|
|
|
$
|
—
|
|
9.
|
Credit Facility and Debt
|
10.
|
Stockholders’ Equity
|
|
September 30, 2020
|
|
December 31, 2019
|
||||
Preferred stock, $0.001 par value; 5,000,000 shares authorized at September 30, 2020 and December 31, 2019; no shares issued and outstanding at September 30, 2020 and December 31, 2019
|
$
|
—
|
|
|
$
|
—
|
|
Series B convertible preferred stock, $0.001 par value; 147,000 shares designated at September 30, 2020 and December 31, 2019; 200 shares issued and outstanding at September 30, 2020 and December 31, 2019
|
$
|
1
|
|
|
$
|
1
|
|
Series D convertible preferred stock, $0.001 par value; 21,300 shares designated at September 30, 2020 and December 31, 2019; no shares issued and outstanding at September 30, 2020 and December 31, 2019
|
$
|
—
|
|
|
$
|
—
|
|
Series E convertible preferred stock, $0.001 par value; 7,000 shares designated at September 30, 2020 and December 31, 2019; no shares issued and outstanding at September 30, 2020 and December 31, 2019
|
$
|
—
|
|
|
$
|
—
|
|
Series F convertible preferred stock, $0.001 par value; 10,621 shares designated at September 30, 2020 and December 31, 2019; no shares issued and outstanding at September 30, 2020 and December 31, 2019
|
$
|
—
|
|
|
$
|
—
|
|
11.
|
Reverse Stock Split
|
|
Quarters Ended September 30,
|
|
|
|||||||||||
|
2020
|
|
2019
|
|
Change
|
|
% Change
|
|||||||
|
(in thousands)
|
|
|
|||||||||||
Revenues
|
$
|
2,036.2
|
|
|
$
|
2,088.0
|
|
|
$
|
(51.8
|
)
|
|
(2.5
|
)%
|
|
Quarters Ended September 30,
|
|
|
|||||||||||
|
2020
|
|
2019
|
|
Change
|
|
% Change
|
|||||||
|
(in thousands)
|
|
|
|||||||||||
Cost of revenues
|
$
|
537.6
|
|
|
$
|
914.3
|
|
|
$
|
(376.7
|
)
|
|
(41.2
|
)%
|
|
|
|
|
|
|
|
|
|||||||
Gross profit
|
$
|
1,498.6
|
|
|
$
|
1,173.7
|
|
|
$
|
324.9
|
|
|
27.7
|
%
|
|
Quarters Ended September 30
|
|
|
|||||||||||
|
2020
|
|
2019
|
|
Change
|
|
% Change
|
|||||||
|
(in thousands)
|
|
|
|||||||||||
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|||
Research and development
|
$
|
652.7
|
|
|
$
|
475.1
|
|
|
$
|
177.6
|
|
|
37.4
|
%
|
Sales and marketing
|
340.9
|
|
|
647.7
|
|
|
(306.8
|
)
|
|
(47.4
|
)%
|
|||
General and administrative
|
762.9
|
|
|
1,462.9
|
|
|
(700.0
|
)
|
|
(47.9
|
)%
|
|||
Total operating expenses
|
$
|
1,756.5
|
|
|
$
|
2,585.7
|
|
|
$
|
(829.2
|
)
|
|
(32.1
|
)%
|
|
Quarters Ended September 30,
|
|
|
|||||||||||
|
2020
|
|
2019
|
|
Change
|
|
% Change
|
|||||||
|
(in thousands)
|
|
|
|||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||
Other income
|
$
|
0.8
|
|
|
$
|
7.5
|
|
|
$
|
(6.7
|
)
|
|
(89.3
|
)%
|
|
Nine Months Ended September 30,
|
|
|
|||||||||||
|
2020
|
|
2019
|
|
Change
|
|
% Change
|
|||||||
|
(in thousands)
|
|
|
|||||||||||
Revenues
|
$
|
5,568.2
|
|
|
$
|
7,565.6
|
|
|
$
|
(1,997.4
|
)
|
|
(26.4
|
)%
|
|
Nine Months Ended September 30,
|
|
|
|||||||||||
|
2020
|
|
2019
|
|
Change
|
|
% Change
|
|||||||
|
(in thousands)
|
|
|
|||||||||||
Cost of revenues
|
$
|
1,652.9
|
|
|
$
|
6,382.3
|
|
|
$
|
(4,729.4
|
)
|
|
(74.1
|
)%
|
|
|
|
|
|
|
|
|
|||||||
Gross profit
|
$
|
3,915.4
|
|
|
$
|
1,183.3
|
|
|
$
|
2,732.1
|
|
|
230.9
|
%
|
|
Nine Months Ended September 30,
|
|
|
|||||||||||
|
2020
|
|
2019
|
|
Change
|
|
% Change
|
|||||||
|
(in thousands)
|
|
|
|||||||||||
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|||
Research and development
|
$
|
1,846.6
|
|
|
$
|
2,365.1
|
|
|
(518.5
|
)
|
|
(21.9
|
)%
|
|
Sales and marketing
|
1,144.4
|
|
|
4,047.0
|
|
|
(2,902.6
|
)
|
|
(71.7
|
)%
|
|||
General and administrative
|
2,693.1
|
|
|
4,646.9
|
|
|
(1,953.8
|
)
|
|
(42.0
|
)%
|
|||
Total operating expenses
|
$
|
5,684.1
|
|
|
$
|
11,059.0
|
|
|
$
|
(5,374.9
|
)
|
|
(48.6
|
)%
|
|
Nine Months Ended September 30,
|
|
|
|||||||||||
|
2020
|
|
2019
|
|
Change
|
|
% Change
|
|||||||
|
(in thousands)
|
|
|
|||||||||||
|
|
|
|
|
|
|
|
|||||||
Collaboration income
|
$
|
—
|
|
|
$
|
7,116.7
|
|
|
$
|
(7,116.7
|
)
|
|
(100.0
|
)%
|
|
Nine Months Ended September 30,
|
|
|
|||||||||||
|
2020
|
|
2019
|
|
Change
|
|
% Change
|
|||||||
|
(in thousands)
|
|
|
|||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||
Other income
|
$
|
2.3
|
|
|
$
|
42.8
|
|
|
$
|
(40.5
|
)
|
|
(94.6
|
)%
|
|
September 30, 2020
|
|
December 31, 2019
|
|
Change
|
|
% Change
|
|||||||
|
(in thousands)
|
|
|
|||||||||||
|
|
|
|
|
|
|
|
|||||||
Cash and cash equivalents
|
$
|
4,929.2
|
|
|
$
|
3,126.2
|
|
|
$
|
1,803
|
|
|
57.7
|
%
|
|
Quarters Ended September 30,
|
|
Year Ended
December 31, |
||
|
2020
|
|
2019
|
|
2019
|
|
|
|
|
|
|
Days sales outstanding (days)
|
23
|
|
27
|
|
27
|
Inventory turnover rate (times per year)
|
1.9
|
|
2.3
|
|
3.5
|
|
Nine Months Ended September 30,
|
||||||
|
2020
|
|
2019
|
||||
|
(in thousands)
|
||||||
Net cash used in operating activities (excluding collaboration income)
|
$
|
(2,348.1
|
)
|
|
$
|
(6,582.4
|
)
|
Net cash provided by collaboration income
|
—
|
|
|
4,760.1
|
|
||
Net cash used in operating activities
|
(2,348.1
|
)
|
|
(3,560.1
|
)
|
||
Net cash used in investing activities
|
—
|
|
|
(41.2
|
)
|
||
Net cash provided by financing activities
|
4,151.0
|
|
|
7.5
|
|
||
Net cash (used) provided
|
$
|
1,802.9
|
|
|
$
|
(3,593.8
|
)
|
|
|
NEUROMETRIX, INC.
|
|
|
|
October 22, 2020
|
/s/
|
SHAI N. GOZANI, M.D., PH. D.
|
|
|
Shai N. Gozani, M.D., Ph. D.
|
|
|
Chairman, President and Chief Executive Officer
|
|
|
|
October 22, 2020
|
/s/
|
THOMAS T. HIGGINS
|
|
|
Thomas T. Higgins
|
|
|
Senior Vice President, Chief Financial Officer and Treasurer
|
Exhibit No.
|
|
Description
|
|
|
|
|
Certification of Principal Executive Officer Under Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended, and pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002. Filed herewith.
|
|
|
|
|
|
Certification of Principal Financial Officer Required Under Rule 13a-14(a) or Rule 15d-14(a) of the Securities Exchange Act of 1934, as amended, and pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. Filed herewith.
|
|
|
|
|
|
Certification of Principal Executive Officer and Principal Financial Officer Required Under Rule 13a-14(b) or Rule 15d-14(b) of the Securities Exchange Act of 1934, as amended, and 18 U.S.C. Section 1350. Furnished herewith.
|
|
|
|
|
101
|
|
The following materials from the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, formatted in XBRL (eXtensible Business Reporting Language): (i) Balance Sheets at September 30, 2020 and December 31, 2019, (ii) Statements of Operations for the quarter and nine months ended September 30, 2020 and 2019, (iii) Statements of Changes in Stockholders' Equity for the nine months ended September 30, 2020 and 2019, (iv) Statements of Cash Flows for the nine months ended September 30, 2020 and 2019, and (v) Notes to Financial Statements.
|
|
|
1 Year NeuroMetrix Chart |
1 Month NeuroMetrix Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions