NeuroMetrix, Inc. Reports Total Revenues of $9.1 Million for the First Quarter of 2008, Decrease of 23% from the First Quarter of 2007; Cash and Investment Position of $26.6 Million

Business Wire, May 6, 2008

"An important part of our business strategy going forward is centered around our ADVANCE System, which is used to perform traditional nerve conduction studies and invasive electromyography procedures. We recently received FDA 510(k) clearance for ADVANCE and plan to launch this product into certain markets, including neurologists, neurosurgeons, orthopedic surgeons, and other specialists in the second quarter of 2008.

"We also made progress with NAVIGATOR, our technology platform for delivery of pharmacologic agents, such as anesthetics and corticosteroids, to specific sites on peripheral nerves. This product line is designed to allow physicians to deliver these agents in close proximity to nerves ("perineurally") by using the electrical responsiveness of the nerve to guide the needle. There are multiple applications for this technology including implementation of nerve blocks during regional anesthesia and pain control, and in the treatment of focal neuropathies, such as carpal tunnel syndrome. We hope to file 510(k) applications with the FDA in the second half of 2008."

"Our business continues to be adversely impacted by the current reimbursement environment relating to nerve conduction studies performed using the NC-stat System, and we expect that revenues will continue to decline during 2008. We believe that decisions by certain Medicare carriers to place nerve conduction studies performed using the NC-stat in a miscellaneous CPT code (95999) and decisions by certain commercial payers to label the NC-stat as experimental have caused our revenues to decline as customers experience higher levels of claims denials, longer periods of time to receive reimbursement and an overall environment of uncertainty. Additionally, given the vote on a Category III CPT code that took place at the recent AMA CPT editorial panel meeting, we anticipate that we will continue to face challenges relating to the reimbursement of nerve conduction studies as currently performed with the NC-stat System, which will adversely impact our results."

Company to Host Live Conference Call and Webcast

The Company's management team will host a live conference call and webcast at 10:00 a.m. Eastern time on Tuesday, May 6, 2008 to discuss the Company's financial results for the three-month period ending March 31, 2008. In addition, the Company may answer questions concerning business and financial developments and trends, and other business and financial matters affecting the Company. The conference call may be accessed in the United States by dialing 800-561-2693 and using the confirmation code 21685664. Internationally, the conference call may be accessed by dialing 617-614-3523, and using the same confirmation code. The webcast, along with the earnings press release and accompanying condensed financial statements, will be accessible from the Company's website at www.neurometrix.com under the "Investors" tab and a replay of the webcast will be available on the Company's website for twelve months. A replay of the conference call will be available starting two hours after the call by dialing 888-286-8010, domestically and 617-801-6888, internationally. The confirmation code to access the replay is 58511620. The replay will be available for three months following the conference call.