NeuroMetrix Announces FDA Clearance For Upgraded Version Of Quell, Shares Surge

Shares of Neurometrix Inc (NASDAQ: NURO), a healthcare company that develops wearable medical technology, announced during CES 2016 it received clearance from the U.S. Food and Drug Administration for an upgraded version of Quell, a chronic pain relief wearable.

Neurometrix also confirmed the news in a press release.

Quell is designed for people that suffer from chronic pain conditions. The latest version of Quell gives users the option to control their therapy through a mobile app.

Neurometrix added that the upgraded version will be available as soon as March.

"It is a clear example of our unwavering commitment to creating the most clinically effective and technologically innovative wearable therapeutic solution for people suffering from chronic pain," Neurometrix's CEO Shai Gozani said in the company's press release. "It is only fitting that we are making this announcement at CES 2016 which is the international showcase for consumer technology breakthroughs."

The stock traded recently at $1.91, up 9 percent.