Here is why Neuronetics Inc (STIM) stock faced headwinds in the after-hours on Tuesday?

Neuronetics Inc. (STIM) shares declined 20.31% in after-hours on Tuesday, October 12, 2021, and closed the daily trading at $5.10. However, in the regular trading session, STIM’s stock gained 2.07%. STIM shares have fallen 4.90% over the last 12 months, and they have moved down 1.39% in the past week. Over the past three months, the stock has lost 54.12%, while over the past six months, it has declined 50.46%.

Let’s have a brief discussion about its recent developments.

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STIM revised financial guidance

On October 12, 2021, Neuronetics, Inc. (STIM), announced preliminary revenue results for the third quarter of 2021.

The company is expecting total revenue of approximately $13.8 million for the third quarter, compared to previously issued guidance of $15.0 million to $16.0 million. The full-year revenue is expected to be in the range of $53.3 million to $54.3 million.

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STIM agreement with Success TMS

On October 05, 2021, Neuronetics, Inc. (STIM) announced a commercial agreement with Success TMS in which Success TMS will exclusively utilize Neuronetics’ platform, NeuroStar Advanced Therapy for Mental Health, for the treatment of patients suffering from treatment-resistant major depressive disorder (MDD). Neuronetics has recently made a strategic investment in Success TMS in the form of a $10 million term loan to further accelerate the growth of Success TMS’ business.

STIM partnership with mental health organizations

On October 04, 2021, Neuronetics, Inc. (STIM), announced a new partnership with mental health advocates and organizations in honour of National Depression Education and Awareness Month and Mental Illness Awareness Week. NeuroStar® Advanced Therapy for Mental Health is the leading non-drug, non-invasive, transcranial magnetic stimulation (TMS) treatment for depression.

STIM NeuroStar® Advanced Therapy

On September 22, 2021, a peer-reviewed paper showed significantly lower seizure risk with (STIM) NeuroStar® Advanced Therapy for Mental Health than with TMS treatments that claim deeper stimulation with H-Coil technology. The paper, which was published in Brain Stimulation, the premier journal for publication of original research in the field of neuromodulation, electronically surveyed all of the approximately 500 members of the Clinical TMS Society (CTMSS) about seizures in their practice.

First Franchise Model for TMS Clinics

On September 07, 2021, Neuronetics, Inc and Zion Healing, Inc signed a new agreement under which Neuronetics will be the exclusive supplier of TMS equipment to Zion Healing, Inc. and its franchisees. Zion Healing, Inc. is one of the first and only companies to offer a scalable model for franchising of Mental and Behavioral Health Clinics.

STIM new website

On August 17, 2021, Neuronetics, Inc. (STIM), launched its new website to meet consumer demand for information on accessing advanced treatments for depression.

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The stock plummeted in the after-hours after the company announced to lower its revenue figures for Q3 and FY 2021. We can expect it to further decline in the coming trading sessions as well.

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