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 that Health Care Service (HCSC) has expanded access to TMS (transcranial magnetic stimulation) for adolescents 15 and older with major depressive disorder (MDD). This policy update aligns with the recent FDA clearance of NeuroStar TMS Therapy as a first-line add-on treatment for this age group. HCSC, the largest customer-owned health insurer in the U.S., will now cover TMS for adolescents 15-17 as a first-line treatment, without requiring prior medication failure.
The policy update, effective 10/1/2024, affects over 15 million covered lives through BCBS Illinois, Montana, New Mexico, Oklahoma, and Texas. This expansion follows recent policy updates from other major insurers, reflecting growing recognition of the need for earlier access to mental health treatments like NeuroStar TMS for young people.
Neuronetics, Inc. (NASDAQ: STIM) announced expanded coverage for its NeuroStar TMS Therapy, a treatment for major depressive disorder (MDD). BlueCross BlueShield of North Carolina now covers adolescents 15 years and older, affecting over 2.2 million lives. Louisiana Medicaid has introduced its first TMS coverage policy for adults 18 and older, impacting more than 1.6 million lives.
These policy updates follow recent expansions by other major insurers like Aetna and California Medicaid. NeuroStar is the first and only FDA-cleared TMS treatment for adolescents. Neuronetics' dedicated health policy team works with providers and payors to advocate for increased access to TMS therapy, addressing the growing demand for mental health treatments amidst provider shortages.
Neuronetics (NASDAQ: STIM) has announced significant upgrades to its NeuroStar Advanced Therapy and TrakStar® patient data management software. The enhancements focus on improving patient communication, streamlining clinical data capture, and strengthening cybersecurity. Key upgrades include:
1. Enhanced Patient Communication: New CRM capabilities for automated SMS and email communication, secure insurance card uploads, and multi-site communication filtering.
2. Expanded TrakStar Survey Options: Access to a wider range of automated patient clinical surveys for better monitoring of patient well-being.
3. Advanced Clinical Data Capture: Synchronization of critical clinical information between NeuroStar devices and TrakStar system.
4. Improved Security: Proactive Operating System updates to ensure safe, secure, and encrypted patient data and digital communications.
These upgrades aim to empower providers with tools for more personalized, efficient, and secure treatment of neurohealth disorders.
Neuronetics, Inc. (NASDAQ: STIM) is marking significant progress in its fight against depression during Suicide Prevention Month. The company's NeuroStar Advanced Therapy has treated 88,533 patients in less than three years, potentially saving 1,771 lives. This achievement represents the halfway point in NeuroStar's five-year goal of treating 166,240 people and saving 3,325 lives.
The NeuroStar Voices Portal, launched last year, has become a important platform for individuals to share their experiences with depression and recovery through NeuroStar therapy. Patient testimonials highlight the transformative impact of the treatment, with many describing it as life-saving.
This milestone comes at a critical time, as suicide deaths in the US reached a record high in 2022, with nearly 50,000 lives lost. NeuroStar's progress underscores the vital role of innovative mental health treatments in addressing this urgent issue.
Neuronetics, Inc. (NASDAQ: STIM) celebrates the two-year anniversary of NeuroStar University (NSU), its innovative training facility for healthcare providers using NeuroStar TMS Therapy. The milestone event in Charlotte, North Carolina, will feature award-winning patient advocate Martha Rhodes, author of '3,000 Pulses Later'. NSU has trained over 678 NeuroStar providers, with attendees treating an average of 61% more patients compared to non-attendees.
The celebration includes a private book signing with Martha Rhodes and a fireside chat between Rhodes and Neuronetics CEO Keith Sullivan. NSU's impact on clinical training and patient care will be highlighted, showcasing its role in elevating standards for treating treatment-resistant depression.
Neuronetics (NASDAQ: STIM) and Greenbrook TMS (OTCMKTS: GBNHF) have announced a definitive agreement to merge in an all-stock transaction. The merger aims to create a vertically-integrated organization providing TMS therapy with significant scale. Key benefits include:
1. Increased brand awareness for NeuroStar TMS
2. More consistent delivery of best practices
3. Enhanced benefits for all NeuroStar customers
4. Increased revenue scale with expected mid-teens growth in FY 2025 and 2026
5. At least $15 million in annualized cost savings
6. Accelerated path to profitability, with Adjusted EBITDA and cash flow positivity expected in FY 2025
The combined company will operate as Neuronetics, Inc. and trade under STIM on NASDAQ. Neuronetics shareholders will own 57% and Greenbrook shareholders 43% of the combined company. The transaction is expected to close in Q4 2024, subject to shareholder and regulatory approvals.
Neuronetics Inc. (NASDAQ: STIM) reported Q2 2024 financial results, showing a 7% decrease in total revenue to $16.5 million compared to Q2 2023. Key highlights include:
- U.S. NeuroStar Advanced Therapy system revenue of $4 million (50 systems)
- U.S. treatment session revenue decreased by 5%
- Gross margin improved to 74%
- Net loss increased to $(9.8) million, or $(0.33) per share
The company announced a definitive agreement to merge with Greenbrook TMS, aiming to create a leading mental health care provider. Neuronetics also secured a $50 million initial tranche of a debt facility with Perceptive Advisors, reducing net debt by $10 million. Several major insurers expanded TMS coverage for adolescents with depression, following FDA clearance for NeuroStar therapy in this age group.
Neuronetics, Inc. (NASDAQ: STIM), a commercial stage medical technology company specializing in neurohealth disorders, has announced the granting of inducement awards to sixteen new non-executive employees. The awards consist of Restricted Stock Units (RSUs) representing a total of 55,200 shares of the Company's common stock.
These inducement awards were approved by Neuronetics' Compensation Committee in compliance with NASDAQ Listing Rule 5635(c)(4). The RSUs will vest in equal installments over four years, with vesting occurring on the first, second, third, and fourth anniversaries of the grant date. Vesting is contingent upon the recipient's continued employment with the Company. The RSUs are subject to the terms of the Neuronetics 2020 Inducement Plan.
Neuronetics (NASDAQ: STIM) is partnering with non-profit This Is My Brave for Teen Mental Health Month in August. The initiative aims to raise awareness and provide resources for teen mental health amidst rising concerns. Over 40% of high school students report feelings of sadness or hopelessness, and nearly 70% of adolescents felt a negative impact on their mental health due to the COVID-19 pandemic.
The partnership focuses on equipping teens and communities with information and skills to navigate mental health challenges. It also advocates for the official recognition of August as Teen Mental Health Month. NeuroStar TMS Therapy is now indicated for treating depression in adolescents aged 15 and older, demonstrating Neuronetics' commitment to teen mental health.
Statistics highlight the urgency: suicide is the third leading cause of death among high school-aged youths, and 50% of mental illnesses begin by age 14. The partnership aims to address these issues and improve adolescent mental health outcomes through innovative treatment and awareness.
Neuronetics (NASDAQ: STIM), a medical technology company specializing in neurohealth disorders, has announced its participation in the Canaccord Genuity 44th Annual Growth Conference. The company's management team is set to present on Wednesday, August 14, 2024, at 3:00pm Eastern Time.
This presentation marks an important opportunity for Neuronetics to showcase its progress and future plans to investors and industry professionals. The event will be accessible via a live audio webcast on the investor relations page of Neuronetics' website at ir.neuronetics.com, allowing interested parties to tune in remotely.
As a company focused on improving the quality of life for patients with neurohealth disorders, Neuronetics' participation in this conference could provide valuable insights into their latest developments and market strategies.
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