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.
Neuronetics, Inc. (NASDAQ: STIM) announced an amendment to its term loan agreement with Solar Capital Partners, enhancing financial flexibility for 2022. The amendment divides a $15 million second tranche loan into three $5 million tranches, contingent on achieving specific revenue targets. Following a $50 million credit facility agreement initiated in March 2020, Neuronetics drew $35 million from the initial tranche and restructured its borrowing options to adapt to challenges posed by COVID-19. This new arrangement is expected to support continued growth and product adoption.
Neuronetics, a medical technology company focused on psychiatric disorders, announced participation in the Piper Sandler 32nd Annual Virtual Healthcare Conference on December 2, 2020. CEO Keith Sullivan and CFO Steve Furlong will present, with a pre-recorded webcast available on their investor relations page. Neuronetics markets the NeuroStar® Advanced Therapy System, a non-invasive TMS treatment for major depressive disorder, FDA-cleared for patients not responding to antidepressants. The system is also available in Japan under national health insurance.
Neuronetics announces FDA clearance for TouchStar, a new three-minute intermittent theta burst (iTBS) treatment protocol for Major Depressive Disorder using the NeuroStar® Advanced Therapy System. This innovative protocol, combined with patented Contact Sensing technology, enables clinicians to deliver personalized treatment while ensuring dosage accuracy. TouchStar is set to enhance patient access to effective depression treatments. It adds to the existing NeuroStar treatment options, allowing for significantly shorter sessions. This advancement aims to address rising depression rates and improve patient outcomes.
Neuronetics, Inc. (NASDAQ: STIM) announced its management team will present at the Canaccord Genuity Virtual MedTech & Diagnostics Forum on November 19, 2020, at 12:30 PM ET. A live audio webcast will be accessible on the company's investor relations page, with a replay available for 90 days. Neuronetics focuses on improving quality of life for psychiatric disorder patients through its NeuroStar® Advanced Therapy System, an FDA-cleared, non-invasive treatment for major depressive disorder. The system is also recognized under Japan's national health insurance.
Neuronetics, Inc. (NASDAQ: STIM) reported Q3 2020 revenues of $12.4 million, a 22% decline from $16.0 million in Q3 2019 due to COVID-19 impacts. However, revenue increased by 28% compared to Q2 2020. Operating expenses decreased by 33% to $12.2 million year-over-year. The installed base grew by 11% to 1,143 systems. The net loss for Q3 was $(3.4) million, an improvement from $(6.9) million in Q3 2019. The company projects Q4 2020 revenue between $13.0 and $13.5 million, and full-year revenue of $46.7 to $47.2 million.
MALVERN, Pa., Oct. 19, 2020 (GLOBE NEWSWIRE) -- Neuronetics (NASDAQ: STIM) announced the upcoming release of its third quarter 2020 financial and operating results on November 2, 2020, after market close. A conference call to discuss these results will be held at 4:30 p.m. ET the same day, available via webcast on the company’s investor relations website. Participants can join by phone using specific dial-in numbers. Neuronetics focuses on developing products that enhance the quality of life for patients with psychiatric disorders, including the FDA-cleared NeuroStar® Advanced Therapy System for major depressive disorder.
Neuronetics (NASDAQ: STIM) announced the publication of clinical data from its NeuroStar Outcomes Registry in the Journal of Affective Disorders, suggesting that NeuroStar Advanced Therapy may be considered a first-line treatment for Major Depressive Disorder (MDD). The registry, launched in 2016, includes data from over 5,000 patients and indicates robust antidepressant effects. Key findings show high response (58%) and remission (37%) rates, along with favorable outcomes in females. The research underscores NeuroStar's efficacy and safety in treating treatment-resistant depression during the COVID-19 pandemic.
Neuronetics (NASDAQ: STIM) announced the appointment of Sara Grubbs as Vice President of Sales, effective immediately, bringing 15 years of medical device experience. Grubbs aims to enhance NeuroStar Advanced Therapy's market presence, particularly for treating Major Depressive Disorder. The company also revealed the departure of Dan Guthrie, the Chief Commercial Officer, by year's end. A restricted stock grant of 75,000 shares was approved for Grubbs, contingent on her employment. This change comes as Neuronetics seeks growth opportunities in the psychiatric treatment market.
Neuronetics, a commercial-stage medical technology company, is promoting its NeuroStar Advanced Therapy for depression during National Depression Awareness Month. Over 300 practices nationwide are offering free consultations to educate patients about non-drug treatment options. Depression affects over 16.1 million adults in the U.S., with many not finding relief from traditional medications. The COVID-19 pandemic has increased depression rates, amplifying the need for alternative treatments like NeuroStar, which uses magnetic pulses to aid patients.
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