Neuronetics, Inc. (NASDAQ: STIM), a commercial stage medical technology company focused on designing, developing and marketing products that improve the quality of life for patients who suffer from psychiatric disorders, announced today it will ring the Nasdaq Closing Bell on October 22 in honor of National Depression Awareness Month.
| MALVERN, Pa., Oct. 21, 2019 /PRNewswire/ -- Neuronetics, Inc. (NASDAQ: STIM), a commercial stage medical technology company focused on designing, developing and marketing products that improve the quality of life for patients who suffer from psychiatric disorders, announced today it will ring the Nasdaq Closing Bell on October 22 in honor of National Depression Awareness Month. Neuronetics CEO and President Chris Thatcher will be joined by employees; customers; representatives of leading mental health advocacy organizations, including the Clinical TMS Society; and patient advocates who have achieved remission from their depression after receiving the Company’s NeuroStar® Advanced Therapy transcranial magnetic stimulation (TMS) treatment.
Neuronetics is the TMS market leader driving major change in the treatment of depression in the U.S. and around the world. The Company’s first commercial product, NeuroStar Advanced Therapy, was the first TMS device to receive FDA clearance in 2008 as a safe and effective option for adult patients with Major Depressive Disorder (MDD). As a non-drug, non-invasive option, NeuroStar is the leader in TMS for depression, having delivered 2.4 million treatments by using magnetic pulses to stimulate areas of the brain that are underactive in depression.1,2 5.5 million people in the United States,3,4,5 and more around the world, with depression do not see relief from antidepressant medications, indicating a real need for treatments like NeuroStar. “Our ultimate goal is always to transform lives and give hope to people suffering from depression every single day,” said Chris Thatcher, CEO and President of Neuronetics, Inc. “NeuroStar is a proven non-drug, non-invasive option that is changing lives. It is an honor to be here today at Nasdaq alongside our partners and brave patient advocates to help fight the stigma and educate during National Depression Awareness Month, and beyond.” In 2018, Neuronetics celebrated a historic moment when it became the first company in the TMS market to go public and began trading on the Nasdaq Global Market under the ticker symbol “STIM.” Over the last year, Neuronetics has seen strong financial performance and pursued its vision to transform the neurohealth space by enhancing the treatment experience for patients, growing the number of physicians and health practices to adopt the NeuroStar technology, expanding the international market into Japan, and setting the stage for future treatment indications — all while igniting important conversations on TMS as an innovative depression treatment option that can help patients achieve remission from their depression. Individual results may vary. A physician can help decide if NeuroStar is the right option for a patient. “The Clinical TMS Society is dedicated to improving awareness, accessibility, and clinical practice of TMS therapy for depression,” said Dr. Todd Hutton, President of Clinical TMS Society. “We are honored during National Depression Awareness Month to help foster much-needed conversations about depression treatments and educate people about the availability, safety and efficacy of TMS therapy.” In addition to ringing the Closing Bell during National Depression Awareness Month, Neuronetics launched a national television campaign and new series of patient videos to drive increased awareness of NeuroStar TMS for depression sufferers who do not benefit from antidepressant medications. NeuroStar continues to be the number one TMS choice of doctors6 and is widely covered by insurance, making it an available and accessible treatment for patients. For more information, visit www.neurostar.com. About NeuroStar® Advanced Therapy NeuroStar is reimbursed by most commercial and government health plans, including Medicare and Tricare. In addition, there are programs in place, such as NeuroStar Reimbursement Support, to help patients and providers obtain coverage and reimbursement for NeuroStar Advanced Therapy. NeuroStar is indicated for the treatment of Major Depressive Disorder in adult patients who have failed to receive satisfactory improvement from prior antidepressant medication in the current episode. In an NIMH-funded, independent, randomized controlled trial, patients treated with TMS using a clinical-trial version of the NeuroStar TMS System were 4.2 times more likely to achieve remission compared to patients receiving sham treatment (P = 0.02; odds ratio = 4.05).[7] The most common side effect is pain or discomfort at or near the treatment site, which usually resolves within one week. It is contraindicated in people with non-removable conductive metal in or near the head. NeuroStar® is a registered trademark of Neuronetics, Inc. For more information and full safety and prescribing information, visit www.neurostar.com. About Neuronetics Forward-Looking Statements 1 Post A, et al. J Psychiatric Research, (2001)
SOURCE Neuronetics, Inc. | ||
Company Codes: NASDAQ-NMS:STIM |
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