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. 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 (NASDAQ: STIM) has announced two peer-reviewed publications in the inaugural edition of the Transcranial Magnetic Stimulation journal, highlighting significant findings about TMS therapy for depression. The first publication demonstrates that transcranial magnetic stimulation (TMS) produces universal improvement in depressive symptoms. The second study reveals that the Patient Health Questionnaire-9 (PHQ-9) shows greater sensitivity compared to the Quick Inventory of Depressive Symptomatology: Self-Report (QIDS-SR) in measuring TMS outcomes.
These publications aim to advance mental health treatment through research and provide clinicians with better tools for patient care. According to Keith J. Sullivan, President and CEO, these findings reinforce TMS's effectiveness in treating depression symptoms while offering insights for more precise clinical care.
Neuronetics (NASDAQ: STIM) announced its preliminary unaudited 2024 financial results and issued 2025 guidance. For 2024, the company reported fourth-quarter revenue of $22.1 million and full-year revenue of $74.5 million. The acquisition of Greenbrook TMS was completed on December 9, 2024, contributing to these figures. The pro forma revenue for Q4 2024 was $34.7 million, while for the full year, it was $129.8 million.
Neuronetics expects 2025 revenue to grow by 12%-19%, reaching between $145 million and $155 million. The company also anticipates achieving over $22 million in annualized cost synergies and aims to be cash flow positive by Q3 2025. Key highlights include the successful integration of Greenbrook TMS, the launch of the Better Me Provider program, and FDA clearance for NeuroStar Advanced Therapy as a first-line add-on treatment for adolescents with depression.
The Better Me Provider program, launched in July 2024, has shown significant improvements in patient care and accessibility. Additionally, the FDA clearance in March 2024 expanded the addressable market for Neuronetics' NeuroStar TMS Therapy by 35%, targeting adolescents aged 15-21 with major depressive disorder.
Neuronetics (NASDAQ: STIM) has announced the granting of inducement awards to a new employee, Bill Leonard, as approved by the Company's Board of Directors' Compensation Committee. The award consists of 50,000 Performance Restricted Stock Units (PRSUs) that will vest in equal installments on December 31, 2025, 2026, and 2027. The vesting is contingent upon certain employees maintaining their employment with either Neuronetics or Greenbrook TMS Inc. through December 31, 2025. These awards were granted under the Company's 2020 Inducement Incentive Plan and comply with NASDAQ Listing Rule 5635(c)(4).
Neuronetics (NASDAQ: STIM) has announced the granting of inducement awards to new employees, approved by the Company's Board Compensation Committee under NASDAQ Listing Rule 5635(c)(4). The awards include Performance Restricted Stock Units (PRSUs) and Restricted Stock Units (RSUs) subject to the 2020 Inducement Incentive Plan.
The PRSUs will vest based on achieving cash flow breakeven targets: 25% for Q2 2025, 50% for Q3 2025, and 25% for Q4 2025. Key recipients include Bill Leonard (100,000 PRSUs), Andy Crish, Geoff Grammer, and Peter Willett (60,000 PRSUs each). RSUs were granted to multiple employees with various vesting schedules over 3-4 years.
Neuronetics (NASDAQ: STIM) has successfully completed the acquisition of Greenbrook TMS through a court-approved arrangement. Under the transaction terms, each Greenbrook share was exchanged for 0.01021 Neuronetics shares. Prior to closing, Madryn Asset Management converted their outstanding credit agreement into Greenbrook shares, representing 95.3% of total shares.
The combined company will continue operating as Neuronetics, Inc., trading on NASDAQ under 'STIM'. Greenbrook shares will be delisted from OTCQB Market. The merger aims to expand patient access to mental health treatments by combining Neuronetics' technology platform with Greenbrook's treatment center network, focusing on revenue growth and cost synergies.
Neuronetics (NASDAQ: STIM), a medical technology company specializing in neurohealth disorder treatments, has announced its participation in the Piper Sandler 36th Annual Healthcare Conference. The management team will deliver a presentation on Wednesday, December 4, 2024, at 2:30pm Eastern Time. The presentation will be accessible via live audio webcast through the investor relations section of Neuronetics' website at ir.neuronetics.com.
Neuronetics (NASDAQ: STIM) reported Q3 2024 financial results with total revenue of $18.5 million, up 4% year-over-year. U.S. NeuroStar system revenue reached $4.1 million with 48 systems shipped. The company achieved a gross margin of 75.6%, up 980 basis points from Q3 2023. However, net loss widened to $(13.3) million. Stockholders approved the acquisition of Greenbrook TMS, expected to create a vertically integrated organization. The company expects Q4 2024 revenue between $19.0-$20.0 million and full-year revenue between $71.0-$72.0 million.
Neuronetics (NASDAQ: STIM) announced the granting of inducement awards consisting of Restricted Stock Units (RSUs) representing 13,500 shares of common stock to seven new non-executive employees. The RSUs, approved by the company's Compensation Committee under NASDAQ Listing Rule 5635(c)(4), will vest in equal installments over three years on each anniversary of the grant date, contingent on continued employment. These awards were granted as material inducements for employment and are subject to the Neuronetics 2020 Inducement Plan terms.
Neuronetics (NASDAQ: STIM) reported Q3 2024 revenue of $18.5 million, up 4% year-over-year. U.S. NeuroStar system revenue reached $4.1 million with 48 systems shipped. Treatment session revenue grew 2% compared to Q3 2023. The company reported a net loss of $(13.3) million or $(0.44) per share. Stockholders approved the acquisition of Greenbrook TMS on November 8, 2024. The company expects Q4 2024 revenue between $19.0-20.0 million and full-year 2024 revenue between $71.0-72.0 million. Gross margin improved to 75.6%, up 980 basis points from Q3 2023.
Neuronetics (NASDAQ: STIM), a medical technology company specializing in neurohealth disorders treatment solutions, has announced plans to release its third quarter 2024 financial and operating results before market open on Tuesday, November 12, 2024. The company will host a conference call at 8:30 a.m. Eastern Time on the same day to discuss the results. Investors can access the webcast in listen-only mode, with registration recommended 10 minutes before the event.