MALVERN, Pa., March 08, 2022 (GLOBE NEWSWIRE) — Neuronetics, Inc. (NASDAQ: STIM), a commercial-stage medical technology company focused on the design, development and commercialization of products that improve the quality of life of suffering patients from Neuromedical Disorders, today announced the award of incentive awards to five new non-executive employees. In accordance with NASDAQ Listing Rule 5635(c)(4), the awards have been approved by Neuronetics’ Compensation Committee and are granted as a significant incentive to each employee’s entry into employment with the Company.
In connection with the commencement of her employment, the Company granted 38,252 Restricted Stock Units (“RSUs”) with an estimated fair value at the grant date based on the fair value of the Company’s common stock on the grant date, which is the closing trading price on the Nasdaq Global Select Market. The RSUs vest pro-rata in three equal installments on the first, second and third anniversaries of the grant date, subject to the employee’s continued employment with the Company through the vesting date. The RSUs are subject to the terms of the Neuronetics 2020 Inducement Plan.
Neuronetics, Inc. believes that mental health is just as important as physical health. As a global leader in neuroscience and the industry’s largest TMS company, Neuronetics is redefining what patients and physicians expect by designing and developing products that improve the quality of life for people living with psychiatric disorders. Neuronetics’ NeuroStar® Advanced Therapy System is an FDA-cleared, non-drug, non-invasive treatment for people living with depression and, with over four million treatments delivered, is the current leading transcranial magnetic stimulation (TMS) treatment for major depressive disorder. NeuroStar is extensively researched and supported by the largest clinical dataset of any TMS system for depression, including the world’s largest depression outcomes registry. Neuronetics is committed to changing lives by offering an exceptional treatment option that delivers exceptional results. Visit NeuroStar.com for safety and usage information.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
Statements in the press release about Neuronetics, Inc. (the “Company”) that are not historical facts constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terms such as “outlook ‘, ‘potential’, ‘believe’, ‘expect’, ‘plan’, ‘anticipate’, ‘predict’, ‘may’, ‘will’, ‘could’, ‘would’ and ‘should’ and the negation of these terms and similar expressions. These statements are subject to significant risks and uncertainties, and actual results could differ materially from those projected. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. These risks and uncertainties include, without limitation, risks and uncertainties related to: the impact of COVID-19 on the Company’s operating and budget plans; and general political and economic conditions, including as a result of government agency efforts, COVID-19, such as travel bans, site-safety orders and third-party business closures and the associated impact on resource allocation, manufacturing and supply chains and patient access to commercial products; the company’s ability to maintain its business continuity; the company’s ability to achieve or sustain profitable business due to its history of losses; the Company’s reliance on the sale and use of its NeuroStar Advanced Therapy for Mental Health System to generate revenue; the size and efficiency of the Company’s sales force and the Company’s ability to retain talent; availability of coverage and reimbursement from third-party payers for treatments using the Company’s products; demand from physicians and patients for treatments using the company’s products; developments related to competing technologies and therapies for the indications treated with the company’s products; product defect; the Company’s ability to obtain and maintain intellectual property protection for its technology; Developments in clinical trials or regulatory review of the NeuroStar Advanced Therapy for Mental Health System for additional indications; and developments in regulation in the United States and other applicable jurisdictions. For a discussion of these and other related risks, see the Company’s most recent SEC filings, which are available on the SEC’s website at www.sec.gov. These forward-looking statements are based on the Company’s expectations and beliefs as of the date of this press release. Except as required by law, the Company assumes no duty or obligation to update any forward-looking statements contained in this press release as a result of new information, future events or changes in the Company’s expectations.
Mike Vallie or Mark Klausner