Brainsway Ltd. Stock Price, News & Analysis

BrainsWay Ltd. (NASDAQ: BWAY) announced that Cigna has issued a favorable policy for Deep Transcranial Magnetic Stimulation (TMS) to treat medication-resistant obsessive-compulsive disorder (OCD), effective September 15, 2022. This policy provides access to Deep TMS for patients aged 18 and older after failing multiple medication trials. With Cigna's endorsement, over 86 million adults can now access this innovative treatment. BrainsWay aims to improve healthcare for OCD patients, highlighting that nearly 50% of those with OCD are treatment-resistant.

BrainsWay, a leader in advanced non-invasive treatments for brain disorders, announced that CEO Christopher von Jako will participate in a virtual fireside chat at the H.C. Wainwright Annual Global Investment Conference on September 12, 2022. The event will take place at the Lotte Palace Hotel in New York City. The fireside chat is scheduled for 7:00 a.m. ET. BrainsWay is known for its proprietary Deep Transcranial Magnetic Stimulation (Deep TMS™) technology, which is FDA cleared for major depressive disorder, obsessive-compulsive disorder, and smoking addiction.

BrainsWay Ltd. has received FDA 510(k) clearance for its Deep TMS™ H7 Coil, marking the company’s 9th FDA approval. This new clearance allows treatment of adults with major depressive disorder and anxious depression, enhancing options for treatment-resistant patients. A multicenter trial with 144 subjects demonstrated the H7 Coil’s efficacy similar to the existing H1 Coil. This advancement solidifies BrainsWay's commitment to personalized medicine and expands its non-pharmaceutical treatment arsenal.

BrainsWay Ltd. (NASDAQ: BWAY) reported a 14% revenue increase in Q2 2022, totaling $8.0 million, marking its eighth consecutive quarter of growth. The installed base for Deep TMS™ systems rose 22% year-over-year to 829 units. Reimbursement progress included a positive coverage policy from Highmark BCBS for OCD treatment, enhancing eligibility to nearly 70 million lives. However, gross margin decreased to 73% from 81% due to inventory costs and increased international sales. Operating loss widened to $2.0 million compared to $1.5 million in the prior year.

Burlington, Mass. and Jerusalem, July 27, 2022 - BrainsWay Ltd. (BWAY) will report its second quarter financial results before U.S. markets open on August 10, 2022. A conference call will follow at 8:30 AM ET to discuss these results and update on business operations. BrainsWay is a leader in noninvasive neurostimulation treatments for mental health disorders, with FDA-cleared indications for major depressive disorder, obsessive-compulsive disorder, and smoking addiction. For further details and to access the call, visit their official website.

BrainsWay Ltd. (NASDAQ: BWAY) has achieved a significant milestone with the Israeli Ministry of Health approving its Deep TMS™ treatment for depression, now included in Israel's health basket of essential medical services. This means qualifying patients over 21, who have not responded to prior antidepressants, can receive up to 40 sessions free of charge. Dr. Christopher von Jako emphasized the importance of access to this Israeli innovation, as the company aims to expand insurance coverage globally, focusing on improving mental health treatment accessibility.

BrainsWay Ltd. announces positive coverage from Highmark BCBS for its Deep TMS™ treatment of obsessive-compulsive disorder (OCD), effective May 2, 2022. This coverage benefits 6.8 million members across New York, Pennsylvania, West Virginia, and Delaware. With existing coverage from Health Care Service Corporation, nearly 70 million lives are now eligible for Deep TMS OCD treatment. BrainsWay remains the only TMS company with FDA clearance for OCD, backed by positive clinical data. The firm aims to enhance reimbursement for Deep TMS through continued engagement with major payors.

BrainsWay Ltd. (NASDAQ: BWAY) reported a 30% year-over-year revenue growth in Q1 2022, achieving total revenues of $8.0 million, up from $6.1 million in Q1 2021. The company's gross margin improved to 77%, while operating expenses increased to $7.6 million, leading to an operating loss of $1.5 million. Despite operational challenges due to the Omicron surge, the firm saw a 21% increase in its Deep TMS installed base, totaling 790 systems as of March 31, 2022. Leadership changes were also made to support long-term growth.

BrainsWay Ltd. has appointed Eric Hirt as Vice President of U.S. Sales, bringing over 20 years of medical device sales and marketing experience. Hirt's role will focus on promoting the company's Deep Transcranial Magnetic Stimulation (Deep TMS™) system, aimed at expanding its market presence and increasing demand for its FDA-cleared treatment indications. The company highlights its commitment to advancing mental health solutions through innovative technology, backed by robust clinical evidence.