By Sabela Ojea

Shares of Neuronetics on Monday climbed after the company said the U.S. Food and Drug Administration cleared its NeuroStar Advanced Therapy as an adjunct for the treatment of major depressive disorder in adolescent patients aged 15 to 21.

At 10:07 a.m. ET, shares were up 15% to $4.85. The stock has surged 69% since the beginning of the year.

The company said this is the first and only transcranial magnetic stimulation treatment --a noninvasive form of brand stimulation-- the FDA has cleared for the 15 to 21 age group.

The FDA decision is based in part on the company's TrakStas platform, which showed that 78% of the adolescents that were part of a data analysis achieved clinically meaningful improvement in their depression severity.

About 4.3 million U.S. adolescents aged 15 to 21 are affected by major depressive disorder.

Write to Sabela Ojea at; @sabelaojeaguix

(END) Dow Jones Newswires

03-25-24 1026ET