Neuronetics Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
03 Mayo 2024 - 3:30PM
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 neurohealth disorders, today announced the granting of
inducement awards of Restricted Stock Units representing a total of
55,650 shares of the Company’s common stock (RSUs) to thirteen new
non-executive employees. In accordance with NASDAQ Listing Rule
5635(c)(4), these awards were approved by Neuronetics’ Compensation
Committee and made as material inducements to their respective
employment with the Company.
Each of the RSU grants vests ratably in equal installments on
the first, second, third and fourth anniversaries of the grant
date, subject to the recipient’s continued service with the Company
through the applicable vesting date. The RSUs are subject to the
terms of the Neuronetics 2020 Inducement Plan.
About NeuroneticsNeuronetics, Inc. believes
that mental health is as important as physical health. As a global
leader in neuroscience and the largest TMS company in the industry,
Neuronetics is redefining patient and physician expectations by
designing and developing products that improve the quality of life
for people suffering from psychiatric disorders. An FDA-cleared,
non-drug, noninvasive treatment for people with depression,
Neuronetics’ NeuroStar® Advanced Therapy system is today’s leading
transcranial magnetic stimulation (TMS) treatment for major
depressive disorder with over 4.8 million treatments delivered.
NeuroStar is widely researched and backed by the largest clinical
data set of any TMS system for depression, including the world’s
largest depression Outcomes Registry. Our NeuroStar® Advanced
Therapy system is also FDA-cleared to treat people suffering from
obsessive-compulsive disorder, as well as for the treatment of
comorbid anxiety symptoms (“anxious depression”) for adults with
MDD suffering from anxiety symptoms. Neuronetics is committed to
transforming lives by offering an exceptional treatment option that
produces extraordinary results. For safety information and
indications for use, visit NeuroStar.com.
“Safe harbor” statement under the Private Securities
Litigation Reform Act of 1995:Statements in the press
release regarding 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 may be identified by terms
such as “outlook,” “potential,” “believe,” “expect,” “plan,”
“anticipate,” “predict,” “may,” “will,” “could,” “would” and
“should” as well as the negative 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
release. These risks and uncertainties include, without limitation,
risks and uncertainties related to: the impact of COVID-19 on the
Company’s operational and budget plans as well as general political
and economic conditions, including as a result of efforts by
governmental authorities to mitigate COVID-19, such as travel bans,
shelter in place orders and third-party business closures and the
related impact on resource allocations, manufacturing and supply
chains and patient access to commercial products; the Company’s
ability to execute its business continuity; the Company’s ability
to achieve or sustain profitable operations due to its history of
losses; the Company’s reliance on the sale and usage of its
NeuroStar Advanced Therapy for Mental Health System to generate
revenues; the scale and efficacy of the Company’s salesforce as
well as the Company’s ability to retain talent; availability of
coverage and reimbursement from third-party payors for treatments
using the Company’s products; physician and patient demand for
treatments using the Company’s products; developments in respect of
competing technologies and therapies for the indications that the
Company’s products treat; product defects; the Company’s ability to
obtain and maintain intellectual property protection for its
technology; developments in clinical trials or regulatory review of
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, please refer to the Company’s 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 assumptions as of the date of this press release.
Except as required by law, the Company undertakes 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.
Investor Contact:Mike Vallie or Mark
KlausnerICR Westwicke443-213-0499ir@neuronetics.com
Media
Contact:EvolveMKD646-517-4220NeuroStar@evolvemkd.com
Neuronetics (NASDAQ:STIM)
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