Neuronetics Shares Rise 14% After FDA Clearance for Anxiety Treatment

By Chris Wack

Neuronetics Inc. shares rose 14% to $4.16 after the company said it received clearance from the U.S. Food and Drug Administration for a new indication for its transcranial magnetic stimulation system, NeuroStar Advanced Therapy for Mental Health, to treat anxiety symptoms for adult patients who suffer from major depressive disorder, also known as anxious depression.

The stock, which closed Monday down 7%, hit its 52-week low of $1.98 on May 10.

NeuroStar data from more than 1,300 patients showed safety and efficacy in relieving both depression and anxiety symptoms in patients with anxious depression, the company said.

The clearance follows after Neuronetics' announcement of an obsessive compulsive disorder indication, which received FDA clearance in May.

Write to Chris Wack at [e-mail]

(END) Dow Jones Newswires

07-19-22 1235ET