STOCK TITAN
  1. Home
  2. News
  3. GBNH

Greenbrook TMS Inc. - GBNH STOCK NEWS

Welcome to our dedicated page for Greenbrook TMS news (Ticker: GBNH), a resource for investors and traders seeking the latest updates and insights on Greenbrook TMS stock.

Greenbrook TMS Inc. (NASDAQ: GBNH) is a leading provider of Transcranial Magnetic Stimulation (TMS) therapy and Spravato® (esketamine nasal spray), offering FDA-cleared, non-invasive treatments for Major Depressive Disorder (MDD) and other mental health conditions in the United States. Operating through 130 Company-operated treatment centers, Greenbrook has delivered over 1.3 million treatments to more than 40,000 patients struggling with depression.

TMS therapy involves local electromagnetic stimulation of brain regions associated with mood regulation, while Spravato® is used to treat adults with treatment-resistant depression and depressive symptoms in adults with MDD who have suicidal thoughts or actions. Both therapies are known for being non-invasive, non-sedative, and devoid of drug-related side effects.

As of recent developments, Greenbrook has secured additional financing, including multiple amendments to its credit facility with Madryn Asset Management, LP. The transactions, aimed at improving the company’s financial position, have increased its outstanding loans to approximately $87 million. These funds are expected to support Greenbrook’s general corporate needs, working capital, and debt service obligations.

Furthermore, Greenbrook has recently appointed Juliana Elstad to its board of directors. Ms. Elstad brings over two decades of experience in medical technology and leadership, which is anticipated to be an asset to the company's governance and strategic growth.

Despite facing financial challenges, including the need for additional liquidity and compliance with debt covenants, Greenbrook is actively pursuing various financing and restructuring options to sustain operations. The company remains committed to its mission of providing effective mental health treatments and supporting patients in their journey toward better mental health.

News

Greenbrook TMS Announces Settlement of Ongoing Litigation

Rhea-AI Summary
Greenbrook TMS Inc. (GBNH) settles breach of contract claim with plaintiff, agreeing to pay approximately $2.2 million in total, including an initial immediate payment of $250,000 and weekly payments of $75,000 up to the maturity date of the promissory note on May 1, 2024. The settlement also involves the dismissal of the Klein Note Action and a mutual release of claims. Additionally, there is a stay on the separate complaint related to the acquisition of Success TMS for up to six months.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.72%
Tags
none
-
News

GREENBROOK TMS RECEIVES NASDAQ DELISTING NOTICE AND INTENDS TO APPEAL

Rhea-AI Summary
Greenbrook TMS Inc. (NASDAQ: GBNH) received notification from Nasdaq of its delisting due to noncompliance with the Minimum Bid Requirement and the MVLS Requirement. The company has until November 13, 2023, to regain compliance with these requirements. Greenbrook intends to appeal the determination made by Nasdaq pursuant to the procedures set forth in the Nasdaq Listing Rules.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-8.15%
Tags
none
-
News

GREENBROOK TMS RAISES US$2.5 MILLION IN DEBT FINANCING

Rhea-AI Summary
Greenbrook TMS Inc. (NASDAQ: GBNH) announced the nineteenth amendment to its credit facility with Madryn Asset Management, securing an additional $2,548,223.35 in senior secured term loans. The amendment also allows for the conversion of a portion of the outstanding principal amount of the new loan into common shares of the company at a conversion price of US$1.90. The amendment further defers the interest payment due date and extends the period during which the company's minimum liquidity covenant is reduced. The proceeds of the new loan will be used for general corporate and working capital purposes. The company is also considering additional near-term financing options to address its future liquidity needs.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.3%
Tags
none
News

GREENBROOK TMS REPORTS THIRD QUARTER OPERATIONAL AND FINANCIAL RESULTS

Rhea-AI Summary
Greenbrook TMS Inc. (NASDAQ: GBNH) announced its Q3 2023 operational and financial results, including a 13% decrease in quarterly revenue to $18.0 million, a 17% increase in YTD 2023 revenue to $56.3 million, and a 24% decrease in loss for the period. The company also reported the expansion of its Spravato® offering to 56 treatment centers, with plans to reach 70-80 centers by the end of fiscal 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-9.89%
Tags
earnings
-
News

GREENBROOK TMS RAISES US$2.0 MILLION IN DEBT FINANCING

Rhea-AI Summary
Greenbrook TMS Inc. has entered into the eighteenth amendment to its credit facility with Madryn Asset Management, securing an additional $2,045,685.28 in senior secured term loans. The company now has approximately $67.5 million outstanding under the credit facility. Madryn also has the option to convert up to $6.1 million of the outstanding principal amount of the loans into common shares at a conversion price of $1.90 per share.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.38%
Tags
none
-
News

GREENBROOK TMS ANNOUNCES DIRECTOR APPOINTMENT

Rhea-AI Summary
Greenbrook TMS Inc. appoints Surindra Mann as an independent director, filling the vacancy created by the resignation of Dr. Adrienne Graves. Mann is a finance executive with over 20 years of experience in high growth environments, primarily in the medical device industry. She currently serves as the vice-president of global finance at STAAR Surgical. Mann's appointment strengthens the company's board and brings expertise in finance and accounting.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.93%
Tags
none
News

GREENBROOK TMS ANNOUNCES DATES FOR ITS THIRD QUARTER 2023 FINANCIAL RESULTS

Rhea-AI Summary
Greenbrook TMS Inc. will release its 2023 third quarter operational and financial results on November 8, 2023. A conference call will be held on November 9, 2023 to discuss the results.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-13.64%
Tags
earnings
-
News

GREENBROOK APPOINTS INTERIM CHIEF FINANCIAL OFFICER

Rhea-AI Summary
Greenbrook TMS Inc. appoints Peter Willett as Interim Chief Financial Officer
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.4%
Tags
management
-
News

GREENBROOK TMS RAISES US$1.5 MILLION IN DEBT FINANCING

Rhea-AI Summary
Greenbrook TMS Inc. receives $1.5 million in debt financing
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-10.71%
Tags
none
News

GREENBROOK TMS RAISES US$1.9 MILLION IN DEBT FINANCING

Rhea-AI Summary
Greenbrook TMS raises US$1.9 million in debt financing
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.88%
Tags
none

FAQ

What is the market cap of Greenbrook TMS (GBNH)?

The market cap of Greenbrook TMS (GBNH) is approximately 5.5M.

What is Greenbrook TMS Inc.?

Greenbrook TMS Inc. is a leading provider of Transcranial Magnetic Stimulation (TMS) therapy and Spravato® (esketamine nasal spray) for treating Major Depressive Disorder (MDD) and other mental health conditions in the United States.

What treatments does Greenbrook TMS Inc. offer?

Greenbrook offers Transcranial Magnetic Stimulation (TMS) therapy and Spravato® (esketamine nasal spray), both of which are FDA-cleared, non-invasive treatments for depression and other mental health disorders.

How many treatment centers does Greenbrook TMS operate?

Greenbrook TMS operates through 130 Company-operated treatment centers across the United States.

What recent financial developments have occurred at Greenbrook TMS Inc.?

Greenbrook has secured additional financing through multiple amendments to its credit facility with Madryn Asset Management, LP, increasing its outstanding loans to approximately $87 million to support its corporate needs and working capital.

Who recently joined Greenbrook TMS Inc.'s board of directors?

Juliana Elstad recently joined Greenbrook TMS Inc.'s board of directors as an independent director.

What is TMS therapy?

TMS therapy involves local electromagnetic stimulation of specific brain regions known to be directly associated with mood regulation, providing a non-invasive treatment for depression.

What is Spravato®?

Spravato® (esketamine nasal spray) is an FDA-cleared treatment offered by Greenbrook TMS for adults with treatment-resistant depression and depressive symptoms in adults with MDD with suicidal thoughts or actions.

How many patients has Greenbrook TMS treated?

Greenbrook TMS has provided over 1.3 million treatments to more than 40,000 patients struggling with depression.

What challenges is Greenbrook TMS Inc. facing?

Greenbrook is facing financial challenges, including the need for additional liquidity and compliance with debt covenants, but is actively pursuing various financing and restructuring options to sustain operations.

What are the benefits of TMS therapy and Spravato®?

Both TMS therapy and Spravato® provide effective treatment options for depression that are non-invasive, non-sedative, and free from drug-related side effects.

Stock GBNH logo
Greenbrook TMS Inc.

Nasdaq:GBNH

GBNH Rankings

N/A Ranked by Market Cap
N/A Ranked by Dividends

GBNH Stock Data

5.52M
13.12M
47.89%
30.61%
0.27%
Medical Care Facilities
Healthcare
Link
Canada
Toronto