NeuroMetrix Reports Q1 2012 Results Operational and Strategic Progress in Diabetes Business WALTHAM, Mass.--(BUSINESS WIRE)

NeuroMetrix Reports Q1 2012 Results

Operational and Strategic Progress in

WALTHAM, Mass.--(BUSINESS WIRE)-April 24, 2012--NeuroMetrix,

Inc. (Nasdaq: NURO), a medical device company focused on the diagnosis and treatment of the neurological complications of diabetes,

today reported business and financial highlights for the quarter ended March 31, 2012.

The Company reported progress in its emerging diabetes business

as it continues to commercialize its initial product, NC-stat DPNCheck , a fast, accurate, and

quantitative test for the evaluation of systemic neuropathies, such as diabetic peripheral neuropathy (DPN). DPN affects over

50% of people with diabetes. It causes significant morbidity including pain, increased risk of falling, and is the primary trigger

for diabetic foot ulcers which may require lower extremity amputations.

Among recent highlights cited were:

"We have an ambitious business plan for 2012 and are off

to an encouraging start," said Shai N. Gozani M.D., Ph.D., President and Chief Executive Officer of NeuroMetrix. "The

combination of our progress in the endocrinology and podiatry markets, the Wal-Mart Canada order, and filing of the SENSUS 510(k),

demonstrates our ability to build a successful diabetes franchise focused on DPN."

The Company reported its financial results for the first quarter

of 2012. The Company's legacy neurodiagnostic business accounts for the majority of its current revenues and is managed to

optimize cash flow. Total revenues for the first quarter of 2012 were $2.1 million compared with $2.9 million for the first quarter

of 2011. Gross margin in the first quarter of 2012 was 45% of total revenues and included a charge in the amount of $157,000 related

primarily to excess inventory of legacy products. The $157,000 charge lowered the gross margin percentage in the first quarter

of 2012 by 8.5%. Gross margin in the first quarter of 2011 was 57% of total revenues. Operating expenses for the first quarter

of 2012 were $3.7 million, down from $4.4 million in the first quarter of 2011. Net loss for the first quarter of 2012 was $2.8

million, or $0.33 per share. The Company reported a net loss of $2.7 million for the first quarter of 2011, or $0.70 per share,

based on the weighted average shares outstanding at that time. NeuroMetrix reported net cash consumption of $2.6 million in the

first quarter of 2012 and ended the period with cash resources of $15.2 million.

Company to Host Live Conference Call and Webcast

NeuroMetrix management will host a conference call today, April

24, 2012 at 8:00 a.m., Eastern time, to discuss the Company's business and financial developments, as well as other forward-looking

information about the Company's business. To access the call, dial 866-578-5771 (domestic), or 617-213-8055 (international).

The confirmation code is 84902970. The call will also be webcast and will be accessible from the Company's website at http://www.neurometrix.com

under the "Investor Relations" tab. A replay of the conference call will be available for three months starting two hours

after the call by dialing 888-286-8010 (domestic) or 617-801-6888 (international), and the confirmation code is 47817722.

NeuroMetrix is a medical device company

focused on the diagnosis and treatment of the neurological complications of diabetes. The Company currently

markets products for the detection, diagnosis, and monitoring of diabetic neuropathies such as diabetic peripheral neuropathy and

median neuropathy (carpal tunnel syndrome). For more information, please visit http://www.neurometrix.com.

Safe Harbor Statement

The statements contained in this press release include forward-looking

statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange

Act of 1934, as amended, including, without limitation, statements regarding the company's or management's expectations

relating to the adoption of NC-stat DPNCheck, our ability to build a successful business focused on diabetic peripheral neuropathy,

and our hope of expanding our commercial sales channel of our diabetic neuropathy products. While the company believes the forward-looking

statements contained in this press release are accurate, there are a number of factors that could cause actual events or results

to differ materially from those indicated by such forward-looking statements, including, without limitation, our estimates of future

performance, including the expected timing of the launch of our SENSUS product; the timing, costs and other limitations involved

in obtaining regulatory clearance or approval for our SENSUS product; and our ability to successfully develop, receive regulatory

clearance or approval, commercialize and achieve market acceptance for any of our products. There can be no assurance that future

developments will be those that the company has anticipated. Such forward-looking statements involve known and unknown risks, uncertainties

and other factors including those risks, uncertainties and factors referred to in the company's most recent Annual Report

on Form 10-K as well as other documents that may be filed from time to time with the Securities and Exchange Commission or otherwise

made public. The company is providing the information in this press release only as of the date hereof, and expressly disclaims

any intent or obligation to update the information included in this press release or revise any forward-looking statements.

Chief Financial Officer

Condensed Statements of Operations

Note: per share amounts have

been adjusted to reflect the Company's

1:6 reverse stock-split which occurred on September 1, 2011.

Condensed Balance Sheets