Shares of NeuroMetrix (NURO) skyrocketed when the company announced positive news on their Fibromyalgia treatment. The FDA has granted breakthrough designation to the company’s flagship neurostimulation device.
The Quell device helps treat symptoms of fibromyalgia in adults. That chronic pain affects between 5 and 15 million people in the U.S., typically between the ages of 30 and 50. It often also causes fatigue as well as cognitive and mood disturbances. Quell is a wearable device that stimulates the nerves, and NeuroMetrix claims it can decrease pain.
With the breakthrough designation, the FDA will give the device priority review—and could lead to Medicare reimbursement for Quell buyers. The company says it’s moving forward with a regulatory filing that could result in Quell launching specifically for fibromyalgia patients in the second half of the year.