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 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.
Neuronetics (NASDAQ: STIM) has secured a $90 million senior secured credit facility with Perceptive Advisors. The company received an initial $50 million tranche at closing, part of which will be used to repay its existing SLR Capital term loan. Two additional tranches of $15 million and $25 million are available upon meeting certain milestones by December 31, 2025, and June 30, 2026, respectively.
The 5-year loan will support Neuronetics' initiatives, including commercial expansion, clinical indication development, and driving adoption of its NeuroStar Advanced Therapy for Mental Health. This new facility aims to strengthen the company's balance sheet and provide financial flexibility for its growth strategies in the neurohealth disorder treatment market.
Neuronetics, Inc. (NASDAQ: STIM), a medical technology company specializing in neurohealth disorders, has announced its plans to release second quarter 2024 financial and operating results before the market opens on Monday, August 12th, 2024. The company will host a conference call to discuss these results at 8:30 a.m. Eastern Time on the same day.
Investors and interested parties can access the conference call via a live webcast in listen-only mode. Additionally, participants have the option to register for the call to listen via telephone. It is recommended that attendees join 10 minutes prior to the event start time.
Neuronetics, Inc. (NASDAQ: STIM) announced that Aetna has expanded its TMS (transcranial magnetic stimulation) coverage to include adolescents aged 15 and older with major depressive disorder (MDD). This update follows the recent FDA clearance of NeuroStar TMS as the first and only TMS treatment cleared as a first-line add-on for adolescents aged 15-21. Aetna, covering over 19.4 million lives through commercial policies, has made this policy update effective immediately.
The coverage criteria specify that TMS treatment must be administered by an FDA-cleared device in accordance with FDA labeled indications. This policy update aligns with recent momentum from both commercial and government payers to expand adolescent coverage for TMS Therapy, including updates from Medi-Cal and Humana.
Neuronetics announced that California Medicaid (Medi-Cal) has added coverage for its NeuroStar TMS therapy for adolescents and adults aged 15 and older suffering from major depressive disorder (MDD).
This follows FDA clearance for NeuroStar TMS as a first-line add-on treatment for adolescents (15-21). The new policy, impacting 14.8 million people, takes effect on August 1, 2024.
In addition to Medi-Cal, Neuronetics recently secured TMS policy updates from BlueCross BlueShield of Michigan, Cambia Health, and Humana. NeuroStar TMS is the first and only FDA-cleared TMS therapy for adolescents, with a dedicated health policy team advocating for coverage expansions.
Neuronetics, a medical technology company, announced expanded TMS (transcranial magnetic stimulation) access for adolescents aged 15 and older. BlueCross BlueShield (BCBS) of Michigan and Cambia Health Solutions updated their policies following NeuroStar TMS's FDA clearance as a first-line add-on treatment for major depressive disorder (MDD) in adolescents. BCBS Michigan covers 4.9 million lives, while Cambia Health Solutions, through its subsidiaries, covers 2.5 million lives in several states. These policy updates will be effective September 1, 2024. Neuronetics is the first TMS company with FDA clearance for adolescent treatment and a dedicated health policy team.
Neuronetics (NASDAQ: STIM) has launched the Better Me Provider (BMP) program nationwide, setting new standards for patient care in the mental health industry. The program, developed with TMS medical experts, aims to improve treatment accessibility for conditions like MDD, OCD, and anxious depression. During its pilot phase, BMP improved response times by 6.4x and enabled providers to treat 58% more patients. It also sped up patient engagement, achieving 3.6x more motor threshold determinations. Currently, 300 sites are active, with 125 more preparing to join.