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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.
Greenbrook TMS Inc. (TSX: GTMS) will hold a webcast investor presentation on June 7, 2022, at 2:00 PM ET. CEO Bill Leonard will present key insights about the company's operations, followed by a Q&A session for investors. Pre-registration is required to participate in the webcast, which can be done through the provided link. An archived version will also be accessible on Greenbrook's website after the event. Greenbrook is a prominent provider of Transcranial Magnetic Stimulation therapy, having administered over 840,000 treatments to more than 24,000 patients across the U.S.
Greenbrook TMS Inc. (NASDAQ: GBNH) has announced its acquisition of Success TMS, a major provider of TMS therapy in the U.S., adding 45 active centers across Florida, Pennsylvania, Illinois, New Jersey, Nevada, and Wisconsin. The deal could generate an additional
Greenbrook TMS Inc. (NASDAQ: GBNH) reported Q1 2022 results, showcasing a 15% revenue increase to $13.1 million year-over-year, driven by a 13% rise in treatment volumes. Despite a 7% revenue decline quarter-over-quarter, new patient starts surged by 15%, marking a record 1,817. The regional operating loss narrowed to $1.0 million, down 30% from Q1 2021. The rollout of Spravato® expanded to 23 TMS Centers, aiming to enhance profit margins and utilize TMS Centers for innovative mental health treatments.
Greenbrook TMS Inc. (NASDAQ: GBNH) will announce its first quarter 2022 operational and financial results on May 13, 2022, after market hours. A conference call will follow on May 16, 2022, at 10:00 a.m. ET, featuring CEO Bill Leonard and CFO Erns Loubser. Interested parties can access the call through a toll-free number or via webcast at www.greenbrooktms.com/investors/events.htm. The company operates 149 treatment centers in the U.S., specializing in Transcranial Magnetic Stimulation therapy.
Greenbrook TMS Inc. (NASDAQ: GBNH) reported robust fourth quarter and fiscal year 2021 results, with revenues rising 21% to a record $52.2 million and a 42% increase to $14.0 million in Q4 2021 compared to the prior year. Patient starts climbed 18% year-over-year, reaching 6,429, while TMS treatments increased by 15% to 226,286. The company achieved a significant reduction in losses, with a comprehensive loss of $24.9 million, down 18%. Greenbrook expanded its TMS Centers to 149, highlighting a strategic shift towards innovative mental health treatments.
Greenbrook TMS Inc. (NASDAQ: GBNH) will announce its 2021 fourth quarter and year-end financial results after market hours on March 31, 2022. A conference call is scheduled for April 1, 2022, at 10:00 a.m. ET, where CEO Bill Leonard and CFO Erns Loubser will discuss the results. Greenbrook operates 148 treatment centers across the U.S., specializing in FDA-cleared Transcranial Magnetic Stimulation (TMS) therapy for Major Depressive Disorder, having provided over 730,000 treatments to more than 20,000 patients.
Greenbrook TMS Inc. (NASDAQ: GBNH) announced the immediate resignation of Roberto Drassinower as Chief Operating Officer, who will continue as an advisor under a consulting agreement. Mr. Drassinower expressed enthusiasm for supporting the company's growth strategy while prioritizing family time. Greenbrook operates 149 treatment centers, providing Transcranial Magnetic Stimulation (TMS) therapy for Major Depressive Disorder, having delivered over 730,000 treatments to 20,000 patients. The company highlights its commitment to mental health with a focus on future growth.
Cybin Inc. (NYSE American:CYBN) provided a year-end summary highlighting significant milestones achieved in 2021. The company expanded its workforce from 5 to over 55 employees globally and partnered with nearly 50 organizations, conducting over 90 preclinical studies. Major achievements included FDA approvals for clinical trials, promising data for CYB003 and CYB004, and a successful capital raise of $70M, totaling over $120M since inception. Cybin aims to initiate four first-in-human clinical studies in 2022, focusing on mental health treatments.
Greenbrook TMS reported a 9% revenue increase to $13.1 million in Q3 2021 compared to Q3 2020. Year-to-date revenue grew 15% to $38.2 million. Treatment volumes rose by 7% to 54,525, while new patient starts increased by 3% to 1,520 in Q3. Despite these gains, regional operating income fell to $0.2 million from $1.0 million a year earlier. The company saw a 55% decrease in losses to $3.5 million in Q3 2021. Upcoming expansion of the Spravato® program aims to enhance revenue potential, projecting 5-10% contribution to total revenue by fiscal 2022.
Greenbrook TMS Inc. (NASDAQ: GBNH) is set to release its third quarter 2021 operational and financial results on November 9, 2021, after market hours. A conference call will follow on November 10, 2021, at 10:00 a.m. ET, featuring CEO Bill Leonard and CFO Erns Loubser to discuss the results. Greenbrook operates 148 treatment centers providing Transcranial Magnetic Stimulation (TMS) therapy, a non-invasive treatment for depression, having delivered over 675,000 TMS treatments to over 19,000 patients.
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