Neuronetics to Expand Influence with Russell Index Inclusion

Neuronetics Set for Major Milestone in Healthcare Industry

Neuronetics, Inc. (NASDAQ: STIM), a leading medical technology company based in Malvern, Pennsylvania, is excited to announce its impending inclusion in both the Russell 3000 and Russell 2000 indexes. This significant change will officially take effect following the annual reconstitution of the Russell indexes, right after the US market opens on June 30.

The Russell indexes are widely regarded by investment managers and institutional investors, serving as key benchmarks for various active investment strategies and index funds. By the end of June 2024, approximately $10.6 trillion of assets were being tracked against these indexes, showcasing their critical role in the financial marketplace.

Understanding the Russell Indexes

The Russell 3000 Index encompasses the largest 3,000 public companies in the U.S. by market capitalization, while the Russell 2000 Index is specifically dedicated to the small-cap sector. Each year, these indexes undergo a reconstitution process that involves re-evaluating companies based on total market capitalization as of a set date, which was April 30 of this year. Membership in these indexes fosters inclusion in additional growth and value style indexes as well.

Impact of Inclusion on Neuronetics

Keith J. Sullivan, President and CEO of Neuronetics, emphasized the importance of this inclusion, stating that it validates the company's strategic vision and operational success. He noted, "This milestone enhances our visibility among institutional investors and reflects our significant progress in transforming mental healthcare delivery. We continue to expand access to our innovative treatments, positioning ourselves well for growth and delivering value to patients and shareholders alike."

Expanding Innovative Mental Health Solutions

Neuronetics is not just about achieving a milestone; it also aims at changing the landscape of mental health treatment. As a pioneer in neuroscience, the company focuses on providing effective treatment options beyond traditional medication. The NeuroStar Advanced Therapy is a standout and non-invasive treatment designed for patients struggling with conditions when conventional therapies have failed.

Neuronetics operates Greenbrook TMS Inc. treatment centers across the country, offering NeuroStar as a premier therapy for Major Depressive Disorder (MDD). The success is evident with over 7.4 million NeuroStar treatments administered to date, all backed by extensive clinical data, including the largest depression outcomes registry globally.

Comprehensive Treatment Solutions

The NeuroStar Advanced Therapy System has received FDA clearance for adults with MDD and can help patients exhibiting symptoms of anxiety linked to their depression. Additionally, Greenbrook treatment centers offer innovative treatments like SPRAVATO (esketamine), specifically tailored for those battling treatment-resistant depression.

Looking Ahead: Future Prospects for Neuronetics

The positive momentum for Neuronetics is palpable, especially with the path towards achieving cash flow positivity this year. As the company continues to enhance its operational model and expand its reach, it’s poised for robust growth and greater market presence. The upcoming inclusion in the Russell indexes will likely serve as a launchpad for further advancements and opportunities in the healthcare field.

As Neuronetics continues to innovate and expand, stakeholders are optimistic about the changes ahead. This strategic move assures investors of the company's commitment to improving mental health care, benefiting both patients and shareholders.

Frequently Asked Questions

What companies are part of the Russell 3000 and Russell 2000?

The Russell 3000 includes the top 3,000 U.S. public companies by market capitalization, while the 2000 subset comprises smaller capitalization firms.

Why is Neuronetics joining these indexes?

Neuronetics is joining due to its significant growth and market capitalization, validating its operational success and strategic vision in the healthcare industry.

What are the benefits of being part of these indexes?

Inclusion enhances visibility among institutional investors and can lead to increased investments and partnerships, reinforcing company growth.

What treatments does Neuronetics offer?

Neuronetics provides the NeuroStar Advanced Therapy, a non-invasive treatment for MDD, and operates treatment centers that also offer SPRAVATO for treatment-resistant depression.

What is the significance of the NeuroStar therapy?

The NeuroStar therapy is recognized as a leading TMS treatment option backed by a substantial clinical data set, demonstrating its effectiveness for patients who have not responded to traditional treatments.

About The Author

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