Neuronetics, Inc. - STIM STOCK NEWS

Neuronetics (NASDAQ: STIM) announced the granting of inducement awards consisting of Restricted Stock Units (RSUs) representing 13,500 shares of common stock to seven new non-executive employees. The RSUs, approved by the company's Compensation Committee under NASDAQ Listing Rule 5635(c)(4), will vest in equal installments over three years on each anniversary of the grant date, contingent on continued employment. These awards were granted as material inducements for employment and are subject to the Neuronetics 2020 Inducement Plan terms.

Neuronetics (NASDAQ: STIM) reported Q3 2024 revenue of $18.5 million, up 4% year-over-year. U.S. NeuroStar system revenue reached $4.1 million with 48 systems shipped. Treatment session revenue grew 2% compared to Q3 2023. The company reported a net loss of $(13.3) million or $(0.44) per share. Stockholders approved the acquisition of Greenbrook TMS on November 8, 2024. The company expects Q4 2024 revenue between $19.0-20.0 million and full-year 2024 revenue between $71.0-72.0 million. Gross margin improved to 75.6%, up 980 basis points from Q3 2023.

Neuronetics (NASDAQ: STIM), a medical technology company specializing in neurohealth disorders treatment solutions, has announced plans to release its third quarter 2024 financial and operating results before market open on Tuesday, November 12, 2024. The company will host a conference call at 8:30 a.m. Eastern Time on the same day to discuss the results. Investors can access the webcast in listen-only mode, with registration recommended 10 minutes before the event.

Neuronetics, Inc. (NASDAQ: STIM) announced its participation at the American Academy of Child and Adolescent Psychiatry (AACAP) conference in Seattle, WA, from October 14th-19th. The company will present data on the NeuroStar TMS System in an oral presentation at the 'Research Pipeline: New Findings on Therapeutics' session. This presentation will feature the largest study to date evaluating TMS efficacy in adolescents with depression.

Dr. Paul E. Croarkin will present the study, which demonstrates the benefits of TMS treatment for both depressive symptoms and anxiety in adolescents and young adults. The data shows a 78% response rate and 48% remission rate for this population. NeuroStar is the only TMS device FDA-cleared to treat adolescents aged 15 and older as a first-line adjunct treatment for major depressive disorder.

Neuronetics (NASDAQ: STIM) and Greenbrook TMS (OTCMKTS: GBNHF) have announced the receipt of an interim order from the Ontario Superior Court of Justice for their proposed all-stock arrangement. The order authorizes a special meeting of Greenbrook shareholders to vote on the arrangement. Under the plan, each Greenbrook share will be exchanged for 0.01149 Neuronetics shares, subject to adjustments. Post-arrangement, Neuronetics and Greenbrook shareholders are expected to own approximately 57% and 43% of the combined company, respectively.

The boards of both companies unanimously recommend shareholders vote in favor of the arrangement. Special meetings for both companies are scheduled for November 8, 2024. The arrangement requires approval from two-thirds of Greenbrook shareholders and a majority of minority shareholders. For Neuronetics, a majority vote is required for both the Charter Amendment and Share Issuance proposals.

Neuronetics, Inc. (NASDAQ: STIM) announced that Health Care Service (HCSC) has expanded access to TMS (transcranial magnetic stimulation) for adolescents 15 and older with major depressive disorder (MDD). This policy update aligns with the recent FDA clearance of NeuroStar TMS Therapy as a first-line add-on treatment for this age group. HCSC, the largest customer-owned health insurer in the U.S., will now cover TMS for adolescents 15-17 as a first-line treatment, without requiring prior medication failure.

The policy update, effective 10/1/2024, affects over 15 million covered lives through BCBS Illinois, Montana, New Mexico, Oklahoma, and Texas. This expansion follows recent policy updates from other major insurers, reflecting growing recognition of the need for earlier access to mental health treatments like NeuroStar TMS for young people.

Neuronetics, Inc. (NASDAQ: STIM) announced expanded coverage for its NeuroStar TMS Therapy, a treatment for major depressive disorder (MDD). BlueCross BlueShield of North Carolina now covers adolescents 15 years and older, affecting over 2.2 million lives. Louisiana Medicaid has introduced its first TMS coverage policy for adults 18 and older, impacting more than 1.6 million lives.

These policy updates follow recent expansions by other major insurers like Aetna and California Medicaid. NeuroStar is the first and only FDA-cleared TMS treatment for adolescents. Neuronetics' dedicated health policy team works with providers and payors to advocate for increased access to TMS therapy, addressing the growing demand for mental health treatments amidst provider shortages.

Neuronetics (NASDAQ: STIM) has announced significant upgrades to its NeuroStar Advanced Therapy and TrakStar® patient data management software. The enhancements focus on improving patient communication, streamlining clinical data capture, and strengthening cybersecurity. Key upgrades include:

1. Enhanced Patient Communication: New CRM capabilities for automated SMS and email communication, secure insurance card uploads, and multi-site communication filtering.

2. Expanded TrakStar Survey Options: Access to a wider range of automated patient clinical surveys for better monitoring of patient well-being.

3. Advanced Clinical Data Capture: Synchronization of critical clinical information between NeuroStar devices and TrakStar system.

4. Improved Security: Proactive Operating System updates to ensure safe, secure, and encrypted patient data and digital communications.

These upgrades aim to empower providers with tools for more personalized, efficient, and secure treatment of neurohealth disorders.

Neuronetics, Inc. (NASDAQ: STIM) is marking significant progress in its fight against depression during Suicide Prevention Month. The company's NeuroStar Advanced Therapy has treated 88,533 patients in less than three years, potentially saving 1,771 lives. This achievement represents the halfway point in NeuroStar's five-year goal of treating 166,240 people and saving 3,325 lives.

The NeuroStar Voices Portal, launched last year, has become a important platform for individuals to share their experiences with depression and recovery through NeuroStar therapy. Patient testimonials highlight the transformative impact of the treatment, with many describing it as life-saving.

This milestone comes at a critical time, as suicide deaths in the US reached a record high in 2022, with nearly 50,000 lives lost. NeuroStar's progress underscores the vital role of innovative mental health treatments in addressing this urgent issue.