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Neuronetics, Inc. reports company developments for a commercial-stage medical technology and healthcare business centered on neurohealth therapies. Its recurring updates cover the NeuroStar Advanced Therapy System, a transcranial magnetic stimulation platform cleared by the U.S. Food and Drug Administration for adults with major depressive disorder, adjunctive use in obsessive-compulsive disorder, anxious depression symptoms in adults with MDD, and first-line adjunctive treatment of MDD in adolescent patients aged 15-21.
News about STIM also covers operating results, U.S. and international system revenue, clinic services added through the completed Greenbrook acquisition, SPRAVATO-related clinic activity, executive and board changes, inducement equity awards, shareholder engagement, and cost-structure actions.
Neuronetics has announced a $14.5 million investment to enhance education for patients and physicians about NeuroStar® Advanced Therapy for treating major depressive disorder (MDD). Launched on March 3, 2022, the campaign, titled “Tap into a New Possibility,” aims to raise awareness of depression's impact and the treatment options available. The multi-channel strategy seeks to reach individuals struggling with MDD, highlighting the effectiveness of NeuroStar, which has delivered over 4.3 million treatments. This initiative underscores the company’s commitment to mental health.
Neuronetics, Inc. (NASDAQ: STIM) has announced plans to release its fourth quarter and fiscal year 2021 financial and operating results on March 8, 2022. The company aims to improve the quality of life for patients with neurohealth disorders through innovative medical technologies. A conference call is scheduled for the same day at 8:30 a.m. ET, which will be accessible via webcast. As a leader in transcranial magnetic stimulation (TMS) for depression, Neuronetics emphasizes its commitment to enhancing mental health treatments. Further details can be found on their investor relations site.
Neuronetics, Inc. (NASDAQ: STIM) announced an amendment to its term loan agreement with SLR Investment Corp. The adjustments allow for an extension of the interest-only period on the initial Term A Loan to 36 months, alongside a reduction of certain revenue covenants. As per the amendment, Neuronetics opted not to draw additional funds from the agreed tranches. The NeuroStar Advanced Therapy system remains a key asset, having delivered over four million treatments for major depressive disorder, reinforced by comprehensive clinical data.
Neuronetics, Inc. (NASDAQ: STIM) released preliminary unaudited revenue results for the fourth quarter and full year 2021. Fourth quarter revenue is projected between $14.5 to $15.0 million, exceeding prior guidance of $13.0 to $14.0 million. Full year revenue is expected to be $54.8 to $55.3 million, surpassing the earlier forecast of $53.3 to $54.3 million. CEO Keith J. Sullivan highlighted strong treatment volume growth, exclusive agreements with national accounts, and a positive outlook for 2022, emphasizing the company's commitment to expanding the adoption of NeuroStar Advanced Therapy.
Neuronetics, a leader in neurotechnology, announced its role as Platinum Sponsor at the 4th International Brain Stimulation Conference held from December 6-9 in Charleston, South Carolina. The company will showcase data from the world's largest depression outcomes registry, emphasizing its NeuroStar Advanced Therapy, a leading treatment using transcranial magnetic stimulation (TMS) for major depressive disorder. Industry experts will discuss TMS treatment outcomes, highlighting the significant impact of patient demographics and therapy parameters on results.
Neuronetics, a medical technology company specializing in neurohealth, announced participation in the Piper Sandler 33rd Annual Virtual Healthcare Conference. CEO Keith Sullivan and CFO Steve Furlong will engage in a fireside chat, focusing on their innovative treatment options. Neuronetics is known for its NeuroStar® Advanced Therapy, a leading FDA-cleared, non-invasive TMS treatment for depression, with over four million treatments delivered. The company aims to enhance patient quality of life through neuroscience advancements.
Neuronetics, a medical technology company, reported Q3 2021 revenue of $13.8 million, an 11% increase year-over-year. U.S. treatment session revenue rose 13% to $10.3 million. The company announced exclusive agreements with Zion Healing and Success TMS, the latter including a $10 million loan for expansion. Gross margin fell to 77.2% due to rising supply costs, while operating expenses increased by $5.6 million to $17.8 million. Net loss expanded to $(8.2) million from $(3.4) million in the prior year. The company maintains a cash reserve of $99.4 million.
Neuronetics has partnered with River Region Psychiatry Associates to supply its NeuroStar® Advanced Therapy for mental health, enhancing access to non-drug treatments for depression. The initial system deployment will be in Pelham/Helena, Alabama, with plans for broader distribution across RRPA's clinics. NeuroStar, a non-invasive treatment utilizing transcranial magnetic stimulation (TMS), has successfully delivered over 4 million treatments, showing an 83% response rate and a 62% remission rate. This collaboration aims to meet rising depression cases effectively.
MALVERN, Pa., Oct. 26, 2021 (GLOBE NEWSWIRE) -- Neuronetics, a medical technology company, will release its third quarter financial results on November 9, 2021, before market open. A conference call to discuss these results is scheduled for 8:30 a.m. ET that day, available via webcast on ir.neuronetics.com. Participants can dial in using (877) 472-8990 for U.S. callers or +1 (629) 228-0778 for international callers, referencing code 3891687. The call will be recorded and available for replay for 60 days. Neuronetics focuses on products that enhance the quality of life for neurohealth patients.
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