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Neuronetics, Inc. (NASDAQ: STIM) is a pioneering medical technology company renowned for its NeuroStar Advanced Therapy System, which uses transcranial magnetic stimulation (TMS) to treat psychiatric and neurological disorders. Headquartered in Malvern, PA, Neuronetics has established itself as a leading force in the non-invasive treatment of major depressive disorder (MDD), particularly for patients who have not found relief from standard antidepressant medications.
The company's flagship product, the NeuroStar Advanced Therapy System, is FDA-cleared for the treatment of MDD in adults and approved for additional indications, including obsessive-compulsive disorder (OCD) and anxious depression in patients exhibiting comorbid anxiety symptoms. Notably, NeuroStar recently received FDA clearance to treat adolescents aged 15-21, making it the first TMS therapy to be approved for this age group. This expanded clearance has significantly increased Neuronetics' market potential, addressing an underserved segment of the population.
Neuronetics continues to make strides in both product development and market reach. The recent advancements in their TrakStar® Patient Data Management System have enhanced the way healthcare providers manage and document patient treatment, improving workflow and patient outcomes. Furthermore, the company has forged strategic partnerships, such as the five-year exclusive agreement with Transformations Care Network, facilitating greater access to NeuroStar TMS across multiple states.
The company's commitment to enhancing mental health treatment accessibility is evident through its proactive health policy advocacy. Neuronetics is the only TMS company with a dedicated health policy team, actively working with providers and payors to update coverage criteria. This effort has yielded favorable changes in insurance coverage, making TMS therapy more accessible to those in need.
Financially, Neuronetics has shown promising growth. In the fourth quarter of 2023, the company reported a 12% increase in total revenue, driven primarily by an uptick in NeuroStar treatment session sales. The gross margin improved to 77.6%, bolstered by strong revenue growth and efficient expense management. The company's strategic initiatives, including the Better Me Guarantee Provider Program, aim to further enhance patient care and treatment accessibility. With a robust pipeline of projects and ongoing financial improvements, Neuronetics is well-positioned for sustained growth and innovation in the mental health sector.
Neuronetics, a commercial-stage medical technology company focused on improving the quality of life for psychiatric disorder patients, announced its participation in the Canaccord Genuity 41st Annual Growth Conference on August 12, 2021. CEO Keith Sullivan and CFO Steve Furlong will present at 9:30 am ET. The presentation will be available via live audio webcast on the company’s investor relations page, with a replay accessible for 90 days. Neuronetics’ flagship product, NeuroStar, is a FDA-cleared therapy for major depressive disorder.
Neuronetics, based in Malvern, PA, announced it will release its second quarter financial and operational results on August 3, 2021, before the market opens. A conference call will follow at 8:30 a.m. ET to discuss the results. Investors can listen via a webcast on Neuronetics' investor relations site or by dialing in using a provided telephone number and confirmation code. The company specializes in medical technology aimed at improving the quality of life for patients with psychiatric disorders, notably through its FDA-cleared NeuroStar® Advanced Therapy System.
Neuronetics has launched a redesigned My NeuroStar Resource Center to enhance marketing and educational support for NeuroStar® providers. This digital hub offers over 25 customizable templates and resources to boost treatment awareness for the NeuroStar Advanced Therapy for Mental Health, a non-invasive treatment for depression. With 17.3 million Americans suffering from depression, the resource center aims to help practices effectively reach more patients. Enhancements include improved user experience and new training materials, aligning with the company’s goal to support growth in the TMS market.
Neuronetics (NASDAQ: STIM) announced its inclusion in the Russell 2000 Index effective June 28, 2021, following the annual Russell indexes reconstitution. This recognition is based on the company's market capitalization as of May 7. The Russell index membership enhances Neuronetics' visibility among investors and validates its efforts to create shareholder value through its NeuroStar Advanced Therapy System, aimed at improving mental health outcomes. Approximately $10.6 trillion in assets are benchmarked against Russell indexes, making this a significant milestone for the company.
Neuronetics, a leader in transcranial magnetic stimulation, will showcase real-world clinical data on NeuroStar Advanced Therapy for Mental Health at the Clinical TMS Society Annual Meeting in West Palm Beach, Florida, from June 10-12, 2021. Highlights include presentations on clinical outcomes from the NeuroStar Outcomes Registry, covering efficacy comparisons and treatment protocols. Neuronetics, as a Platinum Sponsor, aims to enhance awareness of TMS's benefits for major depressive disorder. With over 4 million treatment sessions delivered, the company continues to influence mental health treatment.
Neuronetics, a medical technology company listed on NASDAQ under the symbol STIM, will present at The JMP Securities Life Sciences Conference on June 17, 2021, at 10:00 AM ET. CEO Keith Sullivan and CFO Steve Furlong will lead the discussion. A live audio webcast will be available on the company's investor relations page, with an archive accessible for 90 days post-event. Neuronetics focuses on developing products like the NeuroStar® Advanced Therapy System, a TMS treatment approved by the FDA for major depressive disorder.
Neuronetics has appointed Todd Cushman as Vice President of Business Development, effective immediately. This strategic move aims to enhance the company's international strategy and commercial operations, particularly for its NeuroStar Advanced Therapy for treating Major Depressive Disorder. Cushman brings over 35 years of experience, having previously held leadership roles at Bioness, Medtronic, and Acumed. His expertise is expected to drive market innovation in mental health treatment.
Neuronetics, a medical technology company, announced participation at the William Blair 41st Annual Growth Stock Conference on June 3, 2021, at 9:40 AM ET. CEO Keith Sullivan and CFO Steve Furlong will present details about the company’s innovative products designed to enhance the lives of patients with psychiatric disorders. A live audio webcast will be available on the company’s investor relations page, with a replay accessible for 90 days. Neuronetics is known for its NeuroStar® Advanced Therapy System, FDA-cleared for treating major depressive disorder.
Neuronetics (NASDAQ: STIM) reported its Q1 2021 results with revenues of $12.3 million, up 7% from Q1 2020. U.S. treatment session revenue rose 18% to $9.6 million, while international revenue skyrocketed 63%. However, the sales of the NeuroStar system decreased by 32% year-over-year. The gross margin improved to 81.9%, and operating expenses decreased to $17 million. The company ended Q1 with $121.3 million in cash, up significantly from last year. The full-year guidance has been adjusted, expecting worldwide revenue between $59 million and $63 million.
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