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BrainsWay Ltd. reports developments in noninvasive neurostimulation treatments for mental health disorders. The company markets its proprietary Deep TMS platform, with FDA-cleared indications that include major depressive disorder, obsessive-compulsive disorder, and smoking addiction, and derives revenue from leases and sales of Deep TMS systems.
Recurring updates include financial results, operating guidance, system placements, reimbursement and payer coverage for TMS therapy, clinical data for Deep TMS protocols such as SWIFT, and additional regulatory clearances. Company news also covers strategic minority-stake and milestone-based investments in mental health providers and related neurostimulation technologies, along with investor conference participation and operational updates across its U.S. and Israel-based business.
BrainsWay Ltd. (NASDAQ: BWAY) announced new research validating its Deep TMS™ treatment for anxiety symptoms associated with depression. The analysis, published in the Journal of Clinical Medicine, analyzed data from multiple trials, revealing that Deep TMS is significantly effective for patients with high anxiety, a group traditionally seen as less responsive to treatment. These findings enhance BrainsWay's leadership in psychiatric care, providing potential hope for the many patients experiencing anxious depression, which affects an estimated 13 to 19 million adults in the U.S. annually.
BURLINGTON, Mass. and JERUSALEM, Feb. 01, 2022 – BrainsWay (NASDAQ: BWAY), a leader in noninvasive neurostimulation for mental health disorders, announced its CEO, Christopher von Jako, will present at the BTIG MedTech, Digital Health, Life Science & Diagnostic Tools Conference from February 15-17, 2022. A fireside chat is scheduled for February 15 at 9:30am ET. The company aims to enhance awareness and access to its Deep TMS technology, which treats conditions like major depressive disorder and smoking addiction. Investors interested in meetings should contact their BTIG representative.
BrainsWay Ltd. (NASDAQ: BWAY) announced that the Medicare Administrative Contractor, Palmetto GBA, will cover the Deep TMS™ system for treating Obsessive-Compulsive Disorder (OCD) in seven states, effective March 13, 2022. This coverage expands access to over 9 million additional Medicare patients, bringing the total to approximately 60 million covered lives. The decision underscores the clinical efficacy of Deep TMS for OCD treatment, aligning with the Clinical TMS Society's recommendations.
BrainsWay Ltd. (NASDAQ: BWAY) has appointed Professor Markus Heilig, an expert in addiction and anxiety treatment, to its scientific advisory board. Professor Heilig, who has a notable background in neuroscience and previously directed clinical research at the National Institute on Alcohol Abuse and Alcoholism, will guide BrainsWay's research strategies, particularly in Deep TMS™ therapy. This appointment underscores BrainsWay's commitment to advancing neuroscience amid urgent mental health needs and aims to enhance treatment efficacy for mental health disorders.
BrainsWay Ltd. (NASDAQ: BWAY) announced promising research data validating the durability and cost-effectiveness of Deep TMS for treating Obsessive-Compulsive Disorder (OCD). Key findings from studies published in peer-reviewed journals indicate that 86.7% of patients experienced treatment durability of over one year, with significant reductions in functional disability. Additionally, Deep TMS was shown to be a cost-effective alternative compared to other treatment methods, addressing a significant healthcare burden exceeding $7 billion annually in the U.S.
BrainsWay Ltd. has published findings from a randomized, placebo-controlled pilot study on its Deep TMS™ System aimed at reducing alcohol consumption and cravings in adults with Alcohol Use Disorder (AUD). Conducted with 46 subjects, results showed a significant decrease in heavy drinking days—2.9 for the treatment group compared to 10.6 for placebo. The study highlights the potential of Deep TMS in addressing AUD, particularly amidst rising cases exacerbated by the pandemic. No serious adverse events were reported, marking a promising step for future treatments in this area.
BURLINGTON, Mass. and JERUSALEM, Nov. 30, 2021 – BrainsWay (NASDAQ: BWAY), a leader in noninvasive neurostimulation treatments for mental health disorders, announced that CEO Christopher von Jako, Ph.D., will present at the Sidoti December Micro-Cap Investor Conference on December 9, 2021, at 10 am EST. The event, occurring December 8-9, will also feature one-on-one investor meetings. BrainsWay's Deep TMS technology is FDA-cleared for major depressive disorder, OCD, and smoking addiction. For more details, visit www.brainsway.com.
BrainsWay Ltd. (BWAY) reported a 34% revenue growth year-over-year, reaching $8.1 million for Q3 2021, driven by high demand for its Deep TMS therapy. The company achieved a total revenue of $21.2 million for the first nine months, marking a 41% increase compared to the same period in 2020. The installed base of Deep TMS systems rose by 22% to 717 units. Regulatory clearance was obtained for Deep TMS therapy for treating anxious depression, adding to its portfolio. Despite a net loss of $1.8 million in Q3, cash reserves increased to $55.3 million.
BrainsWay Ltd. (NASDAQ: BWAY), a leader in noninvasive neurostimulation for mental health, will report its Q3 2021 financial results on November 17, 2021, before U.S. market opening. The company plans to host a conference call at 8:30 AM ET to discuss the results and update on operations. BrainsWay is recognized for its Deep TMS™ technology, which is FDA-cleared for major depressive disorder, obsessive-compulsive disorder, and smoking addiction. The call will be available for replay for 30 days.
BrainsWay Ltd. (NASDAQ: BWAY) has appointed Dr. Zafiris Daskalakis to its scientific advisory board, enhancing its expertise in brain stimulation. Dr. Daskalakis, Chair of Psychiatry at UCSD, brings extensive research knowledge and over 450 publications in neurophysiology and psychiatric disorders. This strategic addition aims to strengthen BrainsWay’s growth and clinical impact as it seeks to expand the application of its Deep TMS™ technology for mental health treatment. CEO Christopher von Jako emphasized the importance of Dr. Daskalakis’s insights in navigating the company's future.