Welcome to our dedicated page for Neuronetics news (Ticker: STIM), a resource for investors and traders seeking the latest updates and insights on Neuronetics stock.
Neuronetics, Inc. (NASDAQ: STIM) is a commercial stage medical technology and healthcare company focused on neurohealth and psychiatric disorders, and its news flow reflects this focus. The company develops and markets the NeuroStar Advanced Therapy System, a non-drug, noninvasive transcranial magnetic stimulation (TMS) treatment used in office-based settings, and operates Greenbrook TMS treatment centers across the United States. News about Neuronetics often centers on clinical use of NeuroStar TMS, payer coverage decisions, and developments at its Greenbrook clinics.
Investors following STIM news can expect regular updates on quarterly financial and operating results, as the company reports revenue by geography and product category, including NeuroStar system sales, treatment sessions, and U.S. clinic revenue. Press releases also cover changes to its capital structure and credit facilities, such as amendments to its agreement with Perceptive Credit Holdings IV, LP, as well as at-the-market equity offerings and related capital-raising activities.
Company announcements frequently highlight health policy and reimbursement milestones, including expanded coverage for TMS therapy by New York State Medicaid and TRICARE West for specific patient populations with major depressive disorder. Neuronetics also reports on partnerships and agreements that expand access to NeuroStar TMS, such as an exclusive three-year collaboration with Elite DNA Behavioral Health, under which Neuronetics becomes the sole provider of TMS devices across that network and offers operational and patient-support services using the Greenbrook platform.
Additional STIM news items include participation in investor conferences, leadership and executive appointments, inducement equity grants under Nasdaq Listing Rule 5635(c)(4), and publications of real-world clinical data from the NeuroStar outcomes databases. For readers tracking Neuronetics, this news page aggregates these developments so they can monitor financial performance, payer coverage trends, clinical evidence, and corporate actions related to NeuroStar TMS and Greenbrook treatment centers.
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MALVERN, Pa., April 25, 2023 (GLOBE NEWSWIRE) -- Neuronetics, a medical technology company focused on neurohealth, announced it will release its first quarter 2023 financial and operating results before the market opens on May 9, 2023. A conference call is scheduled for the same day at 8:30 a.m. Eastern Time to discuss these results.
The call will be accessible via a live webcast and participants can register for phone access in advance. Neuronetics emphasizes the importance of mental health, offering its NeuroStar Advanced Therapy, a non-invasive treatment for major depressive disorder (MDD) and other conditions. NeuroStar has delivered over 5.3 million treatments and is backed by extensive clinical data, making it a leader in transcranial magnetic stimulation (TMS) therapies.
Neuronetics, Inc. (NASDAQ: STIM) announced that BlueCross BlueShield of Mississippi will allow non-physician practitioners to prescribe Transcranial Magnetic Stimulation (TMS) for treating major depressive disorder (MDD). This policy change aims to enhance patient access to NeuroStar therapy, a non-invasive treatment effective for drug-resistant depression.
With over 855,716 covered lives in Mississippi, the policy lowers the medication trial requirement from four to two before TMS treatment. Neuronetics emphasizes the importance of mental health and has delivered over 5.3 million NeuroStar treatments, supporting its leadership in the TMS sector.
Neuronetics (NASDAQ: STIM) has announced its fifth FDA clearance in under two years, enhancing the NeuroStar system with improved Wi-Fi capabilities. This advancement allows providers greater flexibility in system placement and offers expanded connectivity options for TrakStar, facilitating better operational efficiency.
Dr. Kenneth Pages, a NeuroStar provider, expressed excitement over the new feature, stating it enables a focus on patient care while simplifying operations. The update is part of a broader initiative, which includes software releases for the TrakStar Patient Data Management System and a new educational campaign aimed at NeuroStar providers. The company continues to focus on improving neurohealth treatment options, underscoring its commitment to investing in technology that enhances patient and provider experiences.
Neuronetics, Inc. (NASDAQ: STIM) announced a new credit facility with SLR Capital Partners, allowing borrowings up to $60 million. This includes a Term A Loan of $35 million fully drawn prior to the amendment and additional loans totaling $25 million. The facility's maturity is set for March 29, 2028. The company aims for cash flow breakeven by 2024. Furthermore, Neuronetics provided Greenbrook TMS with a $6 million promissory note, part of a revised device supply agreement. The note bears interest of 7.65% and matures on March 31, 2027. Both agreements are intended to strengthen Neuronetics' balance sheet and support growth.
Neuronetics, Inc. (NASDAQ: STIM) has been awarded the Patient Impact Award for 2022 by Life Sciences Pennsylvania in recognition of its contributions to improving patient outcomes for mental health disorders.
President and CEO Keith J. Sullivan expressed pride in the company's role in providing non-invasive treatment solutions for individuals with depression. NeuroStar, Neuronetics' flagship product, is recognized as the leading FDA-cleared transcranial magnetic stimulation (TMS) treatment, having completed over 5.3 million treatment sessions across 147,000 patients.
Neuronetics (NASDAQ: STIM) reported its Q4 and full-year 2022 results, highlighting a 21% revenue increase in Q4, totaling $18.2 million, and an 18% annual increase to $65.2 million. U.S. treatment session revenue in Q4 reached a record $12.5 million. The company signed an expanded partnership with Greenbrook TMS, enhancing access to NeuroStar Advanced Therapy. Despite growth, the net loss for Q4 2022 was $(8.3) million and $(37.2) million for the full year, with increasing operating expenses driven by sales force expansion. Cash reserves decreased to $70.3 million by year-end.
Neuronetics announced that United HealthCare (UHC) has revised its transcranial magnetic stimulation (TMS) coverage criteria, significantly easing access for depression patients. The new guidelines reduce the number of prior medication failures required for TMS eligibility from four to two and eliminate the need for evidence-based psychotherapy trials. As UHC covers approximately 23.8 million lives, this change could greatly increase patient access to NeuroStar Advanced Therapy. The updates follow Neuronetics' recent positive developments in TMS coverage, including favorable changes in NGS Medicare policies.
Neuronetics, Inc. (NASDAQ: STIM) announced the granting of inducement awards to eight new non-executive employees, totaling 37,518 Restricted Stock Units (RSUs). These RSUs are part of Neuronetics' 2020 Inducement Plan and vest in three equal installments over three years, contingent on continued employment. This move is in accordance with NASDAQ regulations and aims to attract talent to support the company's mission in enhancing mental health care. Neuronetics focuses on developing non-invasive treatments for neurohealth disorders, notably through its NeuroStar® Advanced Therapy system, a leading solution for major depressive disorder.
Neuronetics (NASDAQ: STIM) has launched its first TrakStar® Patient Data Management System software update alongside an educational campaign titled Get There FASTER with TrakStar. This initiative is designed to help NeuroStar providers maximize the software’s features, enhancing patient access to treatment. The updates include a new electronic Benefits Investigation process, allowing practices to manage patient coverage and track individual outcomes more efficiently. With these enhancements, Neuronetics aims to improve healthcare delivery for patients with neurohealth disorders, reinforcing its commitment to transform lives through innovative technology.