STIM Neuronetics Inc

Neuronetics, Inc. (NASDAQ: STIM), a medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from neurohealth disorders announced today that Humana has become the first commercial payer to update its policy in response to the Company’s recent clearance from the U.S. Food and Drug Administration (FDA) for NeuroStar TMS (transcranial magnetic stimulation) as a first-line add-on for adolescents aged 15-21 with MDD (major depressive disorder).

Humana policies cover approximately 600,000 commercial lives in the United States. Prior to the recent policy update, Humana’s TMS coverage extended to individuals 18 years and older. The revision now addresses requests for TMS treatment for adolescents 15-17 years of age as requiring review by a medical director. The effective date for this change was April 25, 2024, only one month after the NeuroStar FDA clearance was announced on March 25, 2024.

“The FDA clearance for NeuroStar TMS is the most significant treatment advancement in years for the often-underserved adolescent patient population. Humana’s quick action to acknowledge NeuroStar’s availability for young people 15 and older underscores this urgent mental health need,” stated Keith J. Sullivan, President & CEO of Neuronetics, Inc. “We’re also gratified to see that our health policy strategy is contributing to positive policy changes for TMS coverage. Collectively, our efforts will benefit not only the young people affected by depression, but also their parents and families who are looking for a way to help them.”

Neuronetics is uniquely positioned to effect change, as the first and only TMS company with this clearance, and as the only TMS company in the industry with a dedicated health policy team that partners with both providers and payors to advocate for health policy updates.

For more information about NeuroStar TMS Therapy, please visit www.neurostar.com.

About Adolescent DepressionAdolescent depression is a complex and challenging mental health condition that affects young individuals during the crucial period of adolescence. An estimated 4.3 million U.S. adolescents aged 15-21 are affected by MDDi. Depression amongst adolescents can disrupt crucial aspects of development, such as academic performance, relationships with peers and family members, and overall emotional well-being.

NeuroStar Advanced Therapy is indicated as an adjunct for the treatment of MDD in adolescent patients aged 15-21.

About NeuroneticsNeuronetics, Inc. believes that mental health is as important as physical health. As a global leader in neuroscience, Neuronetics is redefining patient and physician expectations with its NeuroStar Advanced Therapy for Mental Health. NeuroStar is a non-drug, noninvasive treatment that can improve the quality of life for people suffering from neurohealth conditions when traditional medication hasn’t helped. NeuroStar is indicated for the treatment of depressive episodes and for decreasing anxiety symptoms for those who may exhibit comorbid anxiety symptoms in adult patients suffering from MDD and who failed to achieve satisfactory improvement from previous antidepressant medication treatment in the current episode. It is also FDA-cleared as an adjunct for adults with obsessive-compulsive disorder and for adolescent patients aged 15-21 with MDD. NeuroStar Advanced Therapy is the leading TMS treatment for MDD in adults with over 6.4 million treatments delivered. Neuronetics is committed to transforming lives by offering an exceptional treatment that produces extraordinary results. For safety and prescribing information, visit www.neurostar.com.

Media Contact:EvolveMKD646.517.4220NeuroStar@evolvemkd.com

i World Health Organization, Depression Fact Sheet. Accessed April 29, 2024. https://www.who.int/news-room/fact-sheets/detail/depression.