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Neuronetics Priced, Nasdaq: STIM

Sells a medical system that uses magnetic stimulation to relieve depression.

Industry: Health Care

First Day Return: +63.4%

Industry: Health Care

We are 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. Our first commercial product, the NeuroStar Advanced Therapy System, is a non-invasive and non-systemic office-based treatment that uses transcranial magnetic stimulation (TMS) to create a pulsed, MRI-strength magnetic field that induces electrical currents designed to stimulate specific areas of the brain associated with mood. The system is cleared by the FDA to treat adult patients with major depressive disorder (MDD) that have failed to achieve satisfactory improvement from prior antidepressant medication in the current MDD episode. NeuroStar Advanced Therapy is safe, clinically effective, reproducible and precise and we believe is supported by the largest clinical data set of any competing TMS system. We believe we are the market leader in TMS therapy based on our U.S. installed base of 781 active NeuroStar Advanced Therapy Systems in approximately 615 psychiatrist offices and the estimated 50,000 patients treated with approximately 1.8 million treatment sessions. We generated revenues of $40 million during 2017 and $10 million for the 1Q18.
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Neuronetics (STIM) Performance