NeuroMetrix Finds No Viable Transactions in Strategic Review

MT Newswires Live08-14

NeuroMetrix (NURO) said Tuesday that it explored potential transactions as part of a strategic review, but has determined none of the opportunities were in best interests of its shareholders.

It collaborated with a financial advisor to explore multiple transactions, none are viable options at this time. It will continue the review to explore more opportunities.

However, it is still in talks to sell certain international assets that are not essential to its primary domestic focus.

NeuroMetrix also implemented a reduction-in-force at the end of Q1 that will lower operating costs by over $500,000 per quarter.

The company also revealed cash and cash equivalents of $16.4 million as of June 30.

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