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BrainsWay Reports Promising Pilot Study Results in Patients with Depression and Comorbid Early-Stage Alzheimer’s Disease Treated with Deep TMS™

A 12-patient pilot study of BrainsWay’s Deep TMS in depression with early Alzheimer’s showed high response and remission but remains preliminary.

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BrainsWay (BWAY) reported peer-reviewed pilot-study results of its Deep TMS technology in patients with Major Depressive Disorder and early-stage Alzheimer’s disease.

The 12-patient study delivered 36 Deep TMS sessions using the H1 and H7 coils and showed an 83.3% response rate (≥50% PHQ‑9 reduction) and a 50% remission rate (PHQ‑9 ≤4) in depressive symptoms. Quantitative EEG analyses indicated reduced delta power in the right temporal lobe and increased alpha coherence between several frontal and temporal sites, suggesting modulation of brain activity and connectivity patterns linked to Alzheimer’s disease. Results were published in the Journal of Geriatric Psychiatry and Neurology, and BrainsWay stated that further controlled clinical research is required. Deep TMS is not FDA‑cleared for treating Alzheimer’s disease.

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Positive

  • 83.3% response rate in depressive symptoms (≥50% PHQ‑9 reduction) after Deep TMS
  • 50% remission rate in depressive symptoms (PHQ‑9 score of 4 or less)
  • Study delivered 36 Deep TMS sessions per patient using H1 and H7 coils
  • Peer-reviewed results published in the Journal of Geriatric Psychiatry and Neurology
  • QEEG showed reduced delta power and increased alpha coherence after treatment

Negative

  • Pilot study sample size was 12 patients, limiting generalizability
  • Deep TMS is not FDA-cleared for the treatment of Alzheimer’s disease
  • Company states that additional controlled clinical research is required to evaluate findings

Market Context

The Aug 27, 2026 Deep TMS study was followed by a 0.7% 24-hour reaction; its peer-reviewed findings ...
Analysis

The Aug 27, 2026 Deep TMS study was followed by a 0.7% 24-hour reaction; its peer-reviewed findings provide a recent platform precedent, while this release extended reported evidence to depression with early-stage Alzheimer’s disease.

Key Figures

Response rate: 83.3% Remission rate: 50% Study participants: 12 patients +3 more
Response rate
83.3%
Depressive symptoms after Deep TMS treatment
Remission rate
50%
Depressive symptoms after Deep TMS treatment
Study participants
12 patients
Pilot study in patients with depression and early-stage Alzheimer’s disease
Treatment sessions
36 Deep TMS sessions
Pilot study protocol
Response definition
≥50% reduction
Patient Health Questionnaire-9 rating scale
Remission definition
PHQ-9 score of 4 or less
Depressive symptoms after treatment

Historical Context

1 past event · Latest: Aug 27
1 event
  1. Aug 27

    Deep TMS study

    24h Move
    +0.7%

    Peer-reviewed Deep TMS analysis reported a 70% reduction in suicidal ideation among 89 patients.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

deep transcranial magnetic stimulation, major depressive disorder, quantitative electroencephalography, patient health questionnaire-9
4 terms
deep transcranial magnetic stimulation technical
"proprietary Deep Transcranial Magnetic Stimulation (Deep TMS™) technology"
A noninvasive medical therapy that uses focused magnetic pulses to stimulate brain regions deeper than standard transcranial magnetic stimulation; think of it as a magnetic “tuning fork” placed outside the head to gently nudge deeper neural circuits. It matters to investors because its clinical effectiveness, regulatory approvals, device manufacturing, and insurance coverage determine market size and revenue potential for companies that make or sell the equipment and treatment services.
major depressive disorder medical
"patients with co-occurring Major Depressive Disorder (MDD)"
A clinical condition characterized by persistent, severe low mood, loss of interest in daily activities, and reduced ability to function at work or home, lasting weeks or longer. It matters to investors because it drives demand for treatments and mental health services, affects workforce productivity and absenteeism, influences health-care and insurance costs, and shapes risks and opportunities for companies developing drugs, therapies or workplace programs—like a long-lasting storm that lowers economic output.
quantitative electroencephalography medical
"changes in brain activity using quantitative electroencephalography (QEEG)"
Quantitative electroencephalography (qEEG) is a technique that takes raw EEG brainwave recordings and uses mathematical and statistical methods to turn them into quantified measures, visual maps and comparisons against reference databases. Think of it like converting raw audio into a visual equalizer and numerical scores that highlight patterns. It matters to investors because qEEG is used as an objective biomarker in clinical research, medical device development, diagnostic tools and regulatory submissions, affecting product claims, market size and reimbursement potential.
patient health questionnaire-9 medical
"reduction on the Patient Health Questionnaire-9 [PHQ-9] rating scale"
A Patient Health Questionnaire-9 (PHQ-9) is a nine-question screening tool doctors use to measure the presence and severity of depression symptoms. Like a short checklist a doctor or app can score quickly, it provides a standardized way to track whether a patient is improving or worsening over time. Investors care because PHQ-9 scores often appear in clinical trial results, treatment adoption, and digital health products, influencing regulatory decisions, reimbursement and market demand.

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Peer-reviewed pilot study shows 83.3% response rate and 50% remission rate in depressive symptoms, alongside measurable neurophysiological changes in brain activity and connectivity

BURLINGTON, Mass. and JERUSALEM, Sept. 08, 2026 (GLOBE NEWSWIRE) -- BrainsWay Ltd. (NASDAQ & TASE: BWAY), a global leader in advanced noninvasive neurostimulation treatments for mental health disorders, announced the publication of results from a pilot study evaluating the Company’s proprietary Deep Transcranial Magnetic Stimulation (Deep TMS™) technology in patients with co-occurring Major Depressive Disorder (MDD) and early-stage Alzheimer’s disease. The results were published in the peer-reviewed Journal of Geriatric Psychiatry and Neurology.

The study, conducted by researchers from the Delray Center for Brain Science and the Department of Psychology at Florida Atlantic University, included 12 patients who received 36 Deep TMS sessions using BrainsWay’s H1 and H7 Coils. The treatment protocol involved stimulation of the left dorsolateral prefrontal cortex with the H1 Coil, followed by stimulation of the temporal regions with the H7 Coil.

The study reported an 83.3% response rate (defined as a ≥50% reduction on the Patient Health Questionnaire-9 [PHQ-9] rating scale) and a 50% remission rate (defined as a PHQ-9 score of 4 or less) in depressive symptoms following Deep TMS treatment.

In addition to the clinical outcomes, researchers observed changes in brain activity using quantitative electroencephalography (QEEG), a technique that compares electrophysiological brain patterns, before and after treatment. This included a reduction of power in the delta frequency band (i.e., 0-3 Hz) in the right temporal lobe after treatment, which could suggest reduced cortical slowing – a common biological phenomenon associated with Alzeimer’s disease. In addition, an increase in alpha coherence – a measure of synchronization and functional connectivity between different brain regions – was observed between several frontal and temporal sites, suggesting an improvement upon the brain dysconnectivity often implicated in Alzheimer’s disease.

“Depression in patients living with Alzheimer’s disease represents a particularly complex clinical challenge, with significant consequences for patients, caregivers, and families,” said Hadar Levy, Chief Executive Officer of BrainsWay. “The response and remission rates for depressive symptoms in this study, together with the observed changes in brain activity, provide an encouraging scientific signal that warrants further investigation. We believe this study further validates the broad potential of our Deep TMS platform to noninvasively engage clinically relevant brain networks in patients with complex neuropsychiatric conditions.”

The study adds to the continuously growing body of scientific research evaluating BrainsWay’s Deep TMS technology in complex patient populations and exploring its ability to modulate brain networks involved in psychiatric and neurological disorders.

Deep TMS is not FDA-cleared for the treatment of Alzheimer’s disease. Additional controlled clinical research will be required to further evaluate these preliminary findings.

Discover the findings of the pilot study by accessing the full publication.

About BrainsWay

BrainsWay is a global leader in advanced noninvasive neurostimulation treatments for mental health disorders. The Company is advancing neuroscience with its proprietary Deep Transcranial Magnetic Stimulation (Deep TMS™) platform technology to improve health and transform lives. BrainsWay is the first and only TMS company to obtain three FDA-cleared indications backed by pivotal clinical studies demonstrating clinically proven efficacy. Current indications include major depressive disorder (including reduction of anxiety symptoms, commonly referred to as anxious depression), obsessive-compulsive disorder, and smoking addiction. The Company is dedicated to leading through superior science and building on its unparalleled body of clinical evidence. Additional clinical trials of Deep TMS in various psychiatric, neurological, and addiction disorders are underway. Founded in 2003, with operations in the United States and Israel, BrainsWay is committed to increasing global awareness of and broad access to Deep TMS. For the latest news and information about BrainsWay, please visit www.brainsway.com.

Forward-Looking Statement

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “targets,” “believes,” “hopes,” “potential” or similar words, and also includes any financial guidance and projections contained herein. These forward-looking statements and their implications are based on the current expectations of the management of the Company only and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Historical results or conclusions from scientific research and clinical studies – especially preliminary pilot data from a small sample size such as that reflected in this press release – do not guarantee that future results would suggest similar conclusions or that historical results referred to herein would be interpreted similarly in light of additional research or otherwise. It is important that the reader access the full publication via the link above in order to obtain more detail and context on the findings referenced herein. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: the failure to realize anticipated synergies and other benefits of the proposed transaction; the failure of our investments in management services organizations and/or other clinic-related entities to produce profitable returns; inadequacy of financial resources to meet future capital requirements; changes in technology and market requirements; delays or obstacles in launching and/or successfully completing planned studies and clinical trials; failure to obtain approvals by regulatory agencies on the Company’s anticipated timeframe, or at all; inability to retain or attract key employees whose knowledge is essential to the development of Deep TMS products; unforeseen difficulties with Deep TMS products and processes, and/or inability to develop necessary enhancements; unexpected costs related to Deep TMS products; failure to obtain and maintain adequate protection of the Company’s intellectual property, including intellectual property licensed to the Company; the potential for product liability; changes in legislation and applicable rules and regulations; unfavorable market perception and acceptance of Deep TMS technology; inadequate or delays in reimbursement from third-party payers, including insurance companies and Medicare; inability to commercialize Deep TMS, including internationally, by the Company or through third-party distributors; product development by competitors; inability to timely develop and introduce new technologies, products and applications, which could cause the actual results or performance of the Company to differ materially from those contemplated in such forward-looking statements.

Any forward-looking statement in this press release speaks only as of the date of this press release. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. More detailed information about the risks and uncertainties affecting the Company is contained under the heading “Risk Factors” in the Company’s filings with the U.S. Securities and Exchange Commission.

Contacts:

BrainsWay:

Ido Marom
Chief Financial Officer
Ido.Marom@BrainsWay.com

Investors:

Brian Ritchie
LifeSci Advisors
britchie@lifesciadvisors.com


FAQ

How was BrainsWay’s Deep TMS treatment administered in this pilot study?

Patients received 36 Deep TMS sessions. The protocol used the H1 Coil to stimulate the left dorsolateral prefrontal cortex, followed by the H7 Coil targeting temporal regions.

What neurophysiological changes were observed with QEEG after Deep TMS treatment?

Researchers observed a reduction of power in the delta frequency band (0–3 Hz) in the right temporal lobe and an increase in alpha coherence between several frontal and temporal sites, indicating altered brain activity and connectivity patterns.

Where were the study results on Deep TMS in depression with early Alzheimer’s published?

The pilot study results were published in the peer-reviewed Journal of Geriatric Psychiatry and Neurology.

Is Deep TMS currently approved for treating Alzheimer’s disease?

No. The company states that Deep TMS is not FDA-cleared for the treatment of Alzheimer’s disease and that further controlled clinical research is needed.

Who conducted the pilot study of Deep TMS in patients with depression and early-stage Alzheimer’s disease?

The study was conducted by researchers from the Delray Center for Brain Science and the Department of Psychology at Florida Atlantic University.

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