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 announced its participation in the 12th Annual Clinical TMS Society (CTMSS) Meeting in London from June 13-15, 2024. They will present six posters and one oral presentation showcasing data from the NeuroStar TMS System. Highlights include early prediction of nonresponse in major depressive disorder, the impact of treatment timing, efficacy of accelerated TMS protocols, effectiveness in adolescents, and symptom sensitivity to TMS treatment. NeuroStar will also exhibit at booth #303, aiming to establish itself as the leading provider of TMS devices.
Neuronetics (NASDAQ: STIM) announced that its management team will present at the William Blair 44th Annual Growth Stock Conference on June 6, 2024, at 10:00am Central Time. The presentation will be accessible via a live audio webcast on their investor relations webpage. Neuronetics, a medical technology company, focuses on developing and marketing products to improve the lives of patients with neurohealth disorders.
Neuronetics (NASDAQ: STIM) announced that Humana is the first commercial payer to update its policy following the recent FDA clearance for NeuroStar TMS therapy for adolescents aged 15-21 with major depressive disorder (MDD). This policy change, effective April 25, 2024, comes just one month after the FDA's March 25, 2024 clearance. Humana's TMS coverage, previously to individuals 18 and older, now includes those aged 15-17, subject to medical director review. Humana covers around 600,000 commercial lives in the U.S. This significant advancement highlights the urgent mental health needs of the adolescent population and reinforces Neuronetics' strategic focus on advocating for health policy updates.
Neuronetics reported record first-quarter 2024 financial and operating results with revenue of $17.4 million, a 12% increase year-over-year. The U.S. treatment session revenue increased by 22%, and NeuroStar Advanced Therapy system revenue was $3.3 million. The company achieved a major milestone with FDA clearance for NeuroStar as a first-line adjunct treatment for adolescent major depressive disorder. Operating expenses decreased, resulting in a net loss of $(7.9) million for the quarter.
Neuronetics, Inc. granted inducement awards of Restricted Stock Units to thirteen new non-executive employees totaling 55,650 shares of common stock. The awards were approved under NASDAQ Listing Rule 5635(c)(4) as incentives for their employment. The RSU grants vest over four years subject to continued service, following the terms of the Neuronetics 2020 Inducement Plan.
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