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Neuronetics, Inc. - STIM STOCK NEWS

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

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.

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Rhea-AI Summary

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.

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FAQ

What is the current stock price of Neuronetics (STIM)?

The current stock price of Neuronetics (STIM) is $1.39 as of December 20, 2024.

What is the market cap of Neuronetics (STIM)?

The market cap of Neuronetics (STIM) is approximately 88.4M.

What does Neuronetics, Inc. specialize in?

Neuronetics specializes in developing non-invasive therapies for psychiatric and neurological disorders using transcranial magnetic stimulation (TMS).

What is the NeuroStar Advanced Therapy System?

The NeuroStar Advanced Therapy System is a non-invasive and non-systemic treatment that uses transcranial magnetic stimulations to treat major depressive disorder (MDD) and other neurohealth conditions.

Is NeuroStar therapy FDA-approved?

Yes, NeuroStar therapy is FDA-cleared for adults with major depressive disorder (MDD) and has recently been approved for use in adolescents aged 15-21.

How does NeuroStar therapy work?

NeuroStar therapy uses MRI-strength magnetic field pulses to stimulate specific areas of the brain associated with mood, providing a non-invasive alternative to traditional antidepressants.

What recent advancements has Neuronetics made?

Recent advancements include the FDA clearance for treating adolescents with MDD, enhancements to the TrakStar® Patient Data Management System, and strategic partnerships to expand NeuroStar's availability.

How is Neuronetics improving access to mental health treatments?

Neuronetics is improving access through proactive health policy advocacy, resulting in favorable insurance coverage changes, and strategic partnerships with major mental health care providers.

What is the Better Me Guarantee Provider Program?

The Better Me Guarantee Provider Program is an initiative by Neuronetics to ensure high standards of patient care and responsiveness, aiming to enhance treatment accessibility and patient outcomes.

How has Neuronetics performed financially?

Neuronetics has shown financial growth with a 12% increase in revenue in Q4 2023 and improved gross margins, driven by increased utilization of NeuroStar treatment sessions.

What is the company's approach to mental health?

Neuronetics believes mental health is as important as physical health and is committed to offering non-drug, non-invasive treatments that improve the quality of life for those with neurohealth conditions.

How can I contact Neuronetics for support?

For support, you can email customer support at customersupport@neuronetics.com or call (877) 600-7555 for U.S. inquiries and +1 (610) 640-4207 for international customers.

Neuronetics, Inc.

Nasdaq:STIM

STIM Rankings

STIM Stock Data

88.39M
27.28M
11.1%
53.32%
2.43%
Diagnostics & Research
Surgical & Medical Instruments & Apparatus
Link
United States of America
MALVERN