NeuroMetrix Inc. (NURO, Financial) filed Quarterly Report for the period ended 2011-06-30.
Neurometrix Inc. has a market cap of $10.4 million; its shares were traded at around $0.45 with and P/S ratio of 0.7.
Sales and marketing expenses decreased to $1.5 million for the quarter ended June 30, 2011 from $3.1 million for the quarter ended June 30, 2010. Personnel costs decreased $1.2 million and travel and entertainment costs decreased $148,000 as we eliminated our direct sales force in January 2011. In addition, recruiting costs decreased $114,000, advertising and promotions costs decreased $86,000, and consulting costs decreased $84,000. We expect our sales and marketing expenses to increase during the second half of 2011 due to the addition of a dedicated endocrinology sales force for promotion of NC-stat DPNCheck.
General and administrative expenses decreased to $1.3 million for the quarter ended June 30, 2011 from $2.2 million for the quarter ended June 30, 2010. This decrease included $212,000 from personnel costs, reflecting reduced headcount, $139,000 from insurance costs due to lower negotiated premiums, $152,000 from professional fees, $113,000 from supplies and equipment costs, $96,000 from bad debt expense, $43,000 from taxes, licenses, and fees, $33,000 from stock-based compensation, and $37,000 from consulting and temporary labor costs. General and administrative expenses may increase modestly over the second half of 2011 reflecting seasonal spending patterns which are weighted more heavily toward year-end.
Research and development expenses for the six months ended June 30, 2011 and 2010 were $2.2 million and $3.3 million, respectively. The comparative results included decreases of $825,000 in personnel related costs, $200,000 in costs of consulting and outside services, $111,000 for clinical studies and product development costs, $95,000 for licenses and fees, and $66,000 for stock-based compensation. These decreases were partially offset by an impairment charge of $192,500 to write off the remaining value of intangible assets following a decision made in the second quarter of 2011 to terminate development efforts relating to certain technological and intellectual property assets acquired in 2009. We expect our research and development expenses to increase during the second half of 2011 for clinical costs related to NC-stat DPNCheck.
Sales and marketing expenses decreased to $3.4 million for the six months ended June 30, 2011 from $6.4 million for the six months ended June 30, 2010. Personnel costs decreased $2.1 million and travel and entertainment costs decreased $460,000 as we eliminated our direct sales force in January 2011. In addition, recruiting costs decreased $255,000, advertising and promotions costs decreased $110,000, and stock-based compensation decreased $102,000. We expect our sales and marketing expenses to increase during the second half of 2011 due to the addition of a dedicated endocrinology sales force for promotion of NC-stat DPNCheck.
General and administrative expenses decreased to $2.7 million for the six months ended June 30, 2011 from $4.3 million for the six months ended June 30, 2010. This decrease included $417,000 from personnel costs, reflecting reduced headcount, $340,000 from professional fees, $249,000 from insurance costs, $181,000 from consulting and temporary labor costs, $98,000 from stock-based compensation, $96,000 from supplies and equipment costs, $68,000 from taxes, licenses, and fees, $62,000 from recruiting costs, $38,000 from board fees, and $29,000 from bad debt expense. General and administrative expenses may increase modestly over the second half of 2011 reflecting seasonal spending patterns which are weighted more heavily toward year-end.
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Neurometrix Inc. has a market cap of $10.4 million; its shares were traded at around $0.45 with and P/S ratio of 0.7.
Highlight of Business Operations:
Research and development expenses for the quarters ended June 30, 2011 and 2010 were $1.1 million and $1.7 million, respectively. The comparative results included decreases of $435,000 in personnel related costs, $141,000 in expenditures for clinical studies and product development costs, and $88,000 in costs of consulting and outside services. These decreases were partially offset by an impairment charge of $192,500 to write off the remaining value of intangible assets following a decision made in the second quarter of 2011 to terminate development efforts relating to certain technological and intellectual property assets acquired in 2009. We expect our research and development expenses to increase during the second half of 2011 for clinical costs related to NC-stat DPNCheck.Sales and marketing expenses decreased to $1.5 million for the quarter ended June 30, 2011 from $3.1 million for the quarter ended June 30, 2010. Personnel costs decreased $1.2 million and travel and entertainment costs decreased $148,000 as we eliminated our direct sales force in January 2011. In addition, recruiting costs decreased $114,000, advertising and promotions costs decreased $86,000, and consulting costs decreased $84,000. We expect our sales and marketing expenses to increase during the second half of 2011 due to the addition of a dedicated endocrinology sales force for promotion of NC-stat DPNCheck.
General and administrative expenses decreased to $1.3 million for the quarter ended June 30, 2011 from $2.2 million for the quarter ended June 30, 2010. This decrease included $212,000 from personnel costs, reflecting reduced headcount, $139,000 from insurance costs due to lower negotiated premiums, $152,000 from professional fees, $113,000 from supplies and equipment costs, $96,000 from bad debt expense, $43,000 from taxes, licenses, and fees, $33,000 from stock-based compensation, and $37,000 from consulting and temporary labor costs. General and administrative expenses may increase modestly over the second half of 2011 reflecting seasonal spending patterns which are weighted more heavily toward year-end.
Research and development expenses for the six months ended June 30, 2011 and 2010 were $2.2 million and $3.3 million, respectively. The comparative results included decreases of $825,000 in personnel related costs, $200,000 in costs of consulting and outside services, $111,000 for clinical studies and product development costs, $95,000 for licenses and fees, and $66,000 for stock-based compensation. These decreases were partially offset by an impairment charge of $192,500 to write off the remaining value of intangible assets following a decision made in the second quarter of 2011 to terminate development efforts relating to certain technological and intellectual property assets acquired in 2009. We expect our research and development expenses to increase during the second half of 2011 for clinical costs related to NC-stat DPNCheck.
Sales and marketing expenses decreased to $3.4 million for the six months ended June 30, 2011 from $6.4 million for the six months ended June 30, 2010. Personnel costs decreased $2.1 million and travel and entertainment costs decreased $460,000 as we eliminated our direct sales force in January 2011. In addition, recruiting costs decreased $255,000, advertising and promotions costs decreased $110,000, and stock-based compensation decreased $102,000. We expect our sales and marketing expenses to increase during the second half of 2011 due to the addition of a dedicated endocrinology sales force for promotion of NC-stat DPNCheck.
General and administrative expenses decreased to $2.7 million for the six months ended June 30, 2011 from $4.3 million for the six months ended June 30, 2010. This decrease included $417,000 from personnel costs, reflecting reduced headcount, $340,000 from professional fees, $249,000 from insurance costs, $181,000 from consulting and temporary labor costs, $98,000 from stock-based compensation, $96,000 from supplies and equipment costs, $68,000 from taxes, licenses, and fees, $62,000 from recruiting costs, $38,000 from board fees, and $29,000 from bad debt expense. General and administrative expenses may increase modestly over the second half of 2011 reflecting seasonal spending patterns which are weighted more heavily toward year-end.
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