Neuronetics Stock Price, News & Analysis

Neuronetics, Inc. (NASDAQ: STIM) announced the appointment of Robert A. Cascella to its Board of Directors, expanding the board to eight members. Cascella brings over 30 years of healthcare leadership experience, including roles at Royal Philips and Hologic. His expertise is expected to guide Neuronetics in enhancing its market position, particularly with the NeuroStar Advanced Therapy for Mental Health. This therapy offers a non-invasive treatment for major depressive disorder, approved by the FDA for patients who haven't responded to other medications.

Neuronetics, Inc. (NASDAQ: STIM) announced the retirement of Gregory Harper, VP of R&D and Clinical, effective March 31, 2021. Harper, who joined the company in 2016, will assist in the transition as a consultant until June 30, 2021. CEO Keith J. Sullivan praised Harper's contributions and expressed confidence in the team under Cory Anderson, the new VP of Clinical Affairs. Neuronetics focuses on innovative treatments for psychiatric disorders, with its NeuroStar® Advanced Therapy System being FDA-cleared for major depressive disorder in patients unresponsive to previous antidepressants.

Neuronetics (NASDAQ: STIM) announced significant upgrades to its TrakStar Cloud system, aimed at enhancing clinician productivity and patient management. The HIPAA-compliant platform improvements include advanced Outcomes Reporting, comprehensive Medication Assignments, on-demand Training Videos, a Patient Leads Tracker, and new Patient Rating Scales. These updates are designed to streamline administrative tasks for practices treating patients with Major Depressive Disorder (MDD). The enhancements are immediately available to all U.S.-based TrakStar customers.

Neuronetics (NASDAQ: STIM) announced the appointment of Cory Anderson as Vice President of Clinical Affairs and Medical Operations, effective March 1, 2021. Anderson has over 15 years of medical technology experience and will focus on advancing the NeuroStar® Advanced Therapy System for mental health. The company also approved 62,706 restricted stock units (RSUs) under its 2020 Inducement Incentive Plan for 12 new employees. NeuroStar provides a non-invasive treatment for major depressive disorder, cleared by the FDA for patients not responding to previous medications.

Neuronetics, Inc. (NASDAQ: STIM) announced its financial results for Q4 and full year 2020, reporting revenues of $15.6 million for Q4, down 10% year-over-year, primarily due to COVID-19. Annual revenue also declined 21% to $49.2 million. Despite a challenging year, fourth quarter revenue increased 25% from Q3. The company raised approximately $80.6 million through a stock offering and amended its credit facility. The gross margin for Q4 was stable at 75.8%. Looking ahead, Neuronetics anticipates 2021 revenue between $58 million and $62 million.

Neuronetics announced the publication of clinical data from the NeuroStar Outcomes Registry in Brain Stimulation, confirming that the Dash protocol (19-minute sessions) is as effective as the standard 38.5-minute TMS protocol for treating depression. Based on data from 5,010 patients, response rates reached 72%, and remission rates were 53%. This shorter treatment may enhance patient access and clinic throughput, facilitating better care for those not responding to medications.

Neuronetics, Inc. (NASDAQ: STIM) announced plans to release its Q4 and FY 2020 financial results on March 2, 2021, ahead of market open. The company will provide guidance for Q1 and full year 2021 during this update.

A conference call to discuss the results will take place at 8:30 a.m. ET on the same day. Neuronetics specializes in medical technology aimed at enhancing the quality of life for patients with psychiatric disorders, with its flagship product, NeuroStar Advanced Therapy System, using TMS to treat major depressive disorder.

Neuronetics, Inc. (NASDAQ: STIM) announced key promotions within its executive team to enhance strategic growth. Effective immediately, Steve Furlong becomes Senior VP, CFO and Treasurer; Greg Harper is now VP of Research & Development and Clinical; and Kara Thornton takes the role of VP of Human Resources. CEO Keith Sullivan emphasizes their leadership will support the company’s mission and momentum in revolutionizing treatments for psychiatric disorders. Neuronetics focuses on its NeuroStar Advanced Therapy System, FDA-cleared for treating Major Depressive Disorder in adults.

MALVERN, Pa., Feb. 10, 2021 (GLOBE NEWSWIRE) -- Neuronetics, a commercial-stage medical technology company, announced that CEO Keith Sullivan and CFO Steve Furlong will participate in a virtual fireside chat at the BTIG Virtual MedTech Conference on February 17, 2021, at 4:30 PM ET. A live audio webcast will be available on the company's investor relations page, with a replay accessible for 90 days. Neuronetics focuses on products that enhance the quality of life for patients with psychiatric disorders, including the NeuroStar® Advanced Therapy System for treating major depressive disorder.