Neuronetics Stock Price, News & Analysis

MALVERN, Pa., April 25, 2023 (GLOBE NEWSWIRE) -- Neuronetics, a medical technology company focused on neurohealth, announced it will release its first quarter 2023 financial and operating results before the market opens on May 9, 2023. A conference call is scheduled for the same day at 8:30 a.m. Eastern Time to discuss these results.

The call will be accessible via a live webcast and participants can register for phone access in advance. Neuronetics emphasizes the importance of mental health, offering its NeuroStar Advanced Therapy, a non-invasive treatment for major depressive disorder (MDD) and other conditions. NeuroStar has delivered over 5.3 million treatments and is backed by extensive clinical data, making it a leader in transcranial magnetic stimulation (TMS) therapies.

Neuronetics, Inc. (NASDAQ: STIM) announced that BlueCross BlueShield of Mississippi will allow non-physician practitioners to prescribe Transcranial Magnetic Stimulation (TMS) for treating major depressive disorder (MDD). This policy change aims to enhance patient access to NeuroStar therapy, a non-invasive treatment effective for drug-resistant depression.

With over 855,716 covered lives in Mississippi, the policy lowers the medication trial requirement from four to two before TMS treatment. Neuronetics emphasizes the importance of mental health and has delivered over 5.3 million NeuroStar treatments, supporting its leadership in the TMS sector.

Neuronetics (NASDAQ: STIM) has announced its fifth FDA clearance in under two years, enhancing the NeuroStar system with improved Wi-Fi capabilities. This advancement allows providers greater flexibility in system placement and offers expanded connectivity options for TrakStar, facilitating better operational efficiency.

Dr. Kenneth Pages, a NeuroStar provider, expressed excitement over the new feature, stating it enables a focus on patient care while simplifying operations. The update is part of a broader initiative, which includes software releases for the TrakStar Patient Data Management System and a new educational campaign aimed at NeuroStar providers. The company continues to focus on improving neurohealth treatment options, underscoring its commitment to investing in technology that enhances patient and provider experiences.

Neuronetics, Inc. (NASDAQ: STIM) announced a new credit facility with SLR Capital Partners, allowing borrowings up to $60 million. This includes a Term A Loan of $35 million fully drawn prior to the amendment and additional loans totaling $25 million. The facility's maturity is set for March 29, 2028. The company aims for cash flow breakeven by 2024. Furthermore, Neuronetics provided Greenbrook TMS with a $6 million promissory note, part of a revised device supply agreement. The note bears interest of 7.65% and matures on March 31, 2027. Both agreements are intended to strengthen Neuronetics' balance sheet and support growth.