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Neuronetics Receives 510(k) Clearance for OCD MT Cap for NeuroStar Advanced Therapy

Key Takeaway: Neuronetics, Inc. has announced that it received 510(k) clearance from the FDA for its OCD Motor Threshold (MT) Cap technology for the NeuroStar Advanced Therapy. This innovation aims to improve treatment efficiency by simplifying the process of determining a patient’s Motor Threshold, thus optimizing care for obsessive-compulsive disorder. The OCD MT Cap will be available at select sites starting this month, with nationwide availability expected later in the year. The new cap, like its predecessor for major depressive disorder, offers significant time savings during initial patient visits.
Price reaction · baseline $2.37 (2023-06-09 close) · clean, no other STIM news in the window
day 0 close
+0.8%

Market Sentiment Analysis

POSITIVE FACTORS

  • Neuronetics received FDA clearance for the OCD MT Cap.
  • The MT Cap promises to enhance treatment efficiency for clinicians.
  • The OCD MT Cap shares advantages with the existing MDD MT Cap, including time savings.
  • Nearly 300 patients have already benefited from NeuroStar TMS treatments.

BiopharmaWatch Analysis

From our catalyst data and publicly available data · not financial advice
Cash runway
~57 mo
Minimal dilution risk
Lead asset
Repetitive Transcranial Magnetic Stimulation
Phase 3 · Major Depressive Disorder

Full Press Release Details

MALVERN, Pa., June 12, 2023 (GLOBE NEWSWIRE) -- Neuronetics, Inc. (NASDAQ: STIM), a medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from neurohealth disorders, announced today that they have received 510(k) clearance for their obsessive-compulsive disorder (OCD) Motor Threshold (MT) Cap technology for NeuroStar® Advanced Therapy for Mental Health.
“This FDA clearance underscores our commitment to delivering the latest technology that will streamline the treatment process for our customers,” shared Cory Anderson, SVP of R&D and Clinical at Neuronetics. “The unique design and functionality of the OCD MT Cap will enable clinicians to optimize treatment efficiency while upholding the highest standard of care for their patients. This innovation also prepares NeuroStar for even further technological advancements expected later this year and next.”
Determining a patient’s Motor Threshold (MT) is a critical step to establish the patient’s prescription prior to starting treatment. NeuroStar stands out as the only TMS system with FDA clearance for MT Caps designed for both OCD and major depressive disorder (MDD). The MT Cap simplifies the initial NeuroStar coil placement by providing a consistent starting location and a step-by-step process to map a patient's motor cortex, effectively shortening the time and reducing the number of steps involved. The OCD MT Cap shares the same advantages as the current MDD MT Cap. This includes its compatibility with Fast MT™, providing up to a 40% time savings for clinicians and patients during the initial visit.
“The current MT Cap for depression became an immediate staple in my practice, and I have witnessed its numerous benefits firsthand. I am thrilled with the addition of the FDA-cleared MT Cap for OCD,” said Dr. Kenneth Pages, Medical Director at TMS of South Tampa. “This new technology is an important development, as it will further empower my practice to provide effective and personalized care for individuals struggling with OCD.”
Nearly 300 patients with OCD have received treatment with NeuroStar TMS, with over 6,000 treatments delivered. The OCD MT Cap will be available at select sites starting this month, with nationwide availability expected in Q4. For more information about NeuroStar, please visit NeuroStar.com.
Neuronetics, Inc. believes that mental health is as important as physical health. As a global leader in neuroscience, Neuronetics is redefining patient and physician expectations with its NeuroStar Advanced Therapy for Mental Health. NeuroStar is a non-drug, noninvasive treatment that can improve the quality of life for people suffering from neurohealth conditions when traditional medication hasn’t helped. NeuroStar is FDA-cleared for adults with major depressive disorder (MDD), as an adjunct for adults with obsessive-compulsive disorder (OCD), and to decrease anxiety symptoms in adult patients with MDD that may exhibit comorbid anxiety symptoms (anxious depression). NeuroStar Advanced Therapy is the leading transcranial magnetic stimulation (TMS) treatment for MDD in adults with over 5.4 million treatments delivered. NeuroStar is backed by the largest clinical data set of any TMS system for depression, including the world’s largest depression Outcomes Registry. Neuronetics is committed to transforming lives by offering an exceptional treatment that produces extraordinary results. For safety and prescribing information, www.neurostar.com.

Frequently Asked Questions

What is the OCD Motor Threshold Cap technology?

The OCD Motor Threshold Cap technology helps determine a patient's Motor Threshold for OCD treatment.

How does the MT Cap improve treatment efficiency?

The MT Cap provides a consistent starting point for coil placement, streamlining the mapping process.

When will the OCD MT Cap be available nationwide?

Nationwide availability of the OCD MT Cap is expected in the fourth quarter of this year.

What advantages does the MT Cap offer for patients?

The MT Cap offers up to a 40% time savings during initial visits for treatment.

How many patients have used NeuroStar TMS for OCD?

Nearly 300 patients with OCD have received treatment using NeuroStar TMS.

Last updated: Jun 12, 2023