Neuronetics Files $86M IPO; Plans to List Under Symbol 'STIM'

Neuronetics filed a $86.25 million IPO. The company plans to list on the NASDAQ under the symbol 'STIM'.

The offering is being led by Piper Jaffray, William Blair, Canaccord Genuity, BTIG and JMP Securities.

About the Company:

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, or 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 United States Food and Drug Administration, or FDA, to treat adult patients with major depressive disorder, or MDD, that have failed to achieve satisfactory improvement from prior antidepressant medication in the current episode. NeuroStar Advanced Therapy is safe, clinically effective, reproducible and precise and 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 of our treatment sessions. We generated revenues of $40.4 million for the year ended December 31, 2017 and $10.2 million for the three months ended March 31, 2018.

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