- The stock price of Neuronetics Inc (NASDAQ: STIM) increased from $10.15 to a day high of $11.64 during intraday trading this morning. This is why it happened.
The stock price of 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 – increased from $10.15 to a day high of $11.64 during intraday trading this morning. Investors are responding positively to Neuronetics announcing its financial and operating results for the first quarter of 2021.
Q1 2021 Highlights:
— First quarter 2021 revenue of $12.3 million, compared to $11.5 million in first quarter 2020, primarily due to an increase in U.S. treatment session revenue
— First quarter revenues surpassed our guidance midpoint by $0.8 million
— Cash and cash equivalents were $121.3 million as of March 31, 2021, inclusive of proceeds from our follow-on offering of 5,566,000 shares of our common stock raising $80.6 million in net cash in February 2021
— Launched new 5 STARS to Success, Precision Pulse, digital media strategy, and advertising messaging to drive awareness and NeuroStar Advanced Therapy treatment session growth
— Enhanced TrakStar Cloud system, a HIPAA-compliant, proprietary software that manages NeuroStar Advanced Therapy patient data, to improve clinician productivity and optimize time spent with patients
— NeuroStar Advanced Therapy Outcomes Registry data published in Brain Stimulation Journal
— Robert Cascella appointed as Chairman of the Board of Directors effective May 27, 2021
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.