NeuroMetrix says opportunities reviewed not in best interest at this time

NeuroMetrix said that “for the purpose of clarity,” it reiterated that the company is engaged in a review of strategic alternatives. In February of this year, the company announced that it had initiated a review of strategic options with an objective of enhancing shareholder value. Over the past six months, NeuroMetrix “has invested considerable effort in evaluating a number of specific strategic directions and also making financial, operational and commercial optimizations.” In collaboration with a financial advisor, the company conducted a “survey of potential transactions.” However, the company determined that none of these opportunities were in the best interests of its shareholders at this time. The company noted that it implemented a reduction-in-force at the end of Q1 to lower operating expenses by over $500,000 per quarter. The company said it is engaged in discussions to sell certain international assets that are not central to its core domestic focus. “The Company believes it is in the best interests of shareholders that the strategic review process continues,” it added.