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Evernorth Health Services, a Cigna Company, Expands NeuroStar® TMS Coverage for Adolescents Struggling with Depression

1. Neuronetics expands NeuroStar® TMS coverage to adolescents with MDD. 2. Coverage expansion includes 15 million lives, enhancing treatment access. 3. NeuroStar is FDA-cleared as a first-line treatment for adolescents. 4. Cigna's decision shows momentum in adolescent mental healthcare. 5. Over 4.3 million adolescents in the U.S. face major depression.

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FAQ

Why Bullish?

The expansion of coverage indicates increased demand through broader access, likely improving revenues. Historically, increased coverage and FDA approvals have led to rising stock prices in healthcare.

How important is it?

The expansion relates directly to STIM's primary product, increasing its market potential significantly. The mention of major treatment advancements indicates a competitive edge in the market.

Why Short Term?

Immediate effect due to the announcement of expanded coverage, influencing stock reactions quickly. Similar announcements often see rapid market adjustments.

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CNCHUMAET
MALVERN, Pa., March 31, 2025 (GLOBE NEWSWIRE) -- Neuronetics, Inc. (NASDAQ: STIM), a vertically integrated, commercial stage, medical technology and healthcare company with a strategic vision of transforming the lives of patients whenever and wherever they need help, with the leading neurohealth therapies in the world, announced that Evernorth Health Services, a wholly owned subsidiary of The Cigna Group, has expanded its coverage of NeuroStar® Transcranial Magnetic Stimulation (TMS) to include adolescents aged 15 and older living with major depressive disorder (MDD). As these health policies cover 15 million lives, the expansion greatly improves access to non-drug treatment options for adolescent patients who are seeking non-drug options for depression. The expansion is effective immediately, nearly one year after NeuroStar® Advanced Therapy received FDA clearance as the first first-line add-on treatment for adolescents aged 15-21 with MDD. In the past year, several leading insurers have rapidly updated their policies to reflect the FDA clearance, including but not limited to Humana, Aetna, Medi-Cal, BCBS-HCSC, Pacific Source, and more. “This decision by Cigna/Evernorth is a significant step forward for adolescent mental healthcare and reflects the momentum we have built with payors over the past year since NeuroStar first received the FDA clearance for adolescents,” said Keith J. Sullivan, President and CEO of Neuronetics. “We are grateful that millions more families will now have easier access to NeuroStar TMS as a proven, non-drug treatment for major depression and can get the care they deserve.” An estimated 4.3 million U.S. adolescents aged 15-21 are affected by major depression1. Depression amongst adolescents can disrupt crucial aspects of development, such as academic performance, relationships with peers and family members, and overall emotional well-being. With limited medication options for adolescents with MDD, NeuroStar is a safe and effective option that can be used as a first-line add-on with robust clinical outcomes. “NeuroStar stands as the leading TMS device, backed by the most comprehensive data that clearly demonstrates its effectiveness in treating adolescent major depressive disorder,” said Geoffrey Grammer, MD, Chief Medical Officer of Neuronetics. “At Neuronetics, we are deeply committed to putting patients first, advancing clinical research, and ensuring that those in need have access to life-changing, innovative solutions.” Neuronetics is 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 Advanced Therapy, please visit www.neurostar.com. About Neuronetics Neuronetics, Inc. believes that mental health is as important as physical health. As a global leader in neuroscience, Neuronetics is delivering more treatment options to patients and physicians by offering exceptional in-office treatments that produce extraordinary results. NeuroStar Advanced Therapy is a non-drug, noninvasive treatment that can improve the quality of life for people suffering from neurohealth conditions when traditional medication has not helped. In addition to selling the NeuroStar Advanced Therapy System and associated treatment sessions to customers, Neuronetics operates Greenbrook TMS Inc. (Greenbrook) treatment centers across the United States, offering NeuroStar Advanced Therapy for the treatment of MDD and other mental health disorders. NeuroStar Advanced Therapy is the leading TMS treatment for MDD in adults, with more than 7.1 million treatments delivered, and is backed by the largest clinical data set of any TMS treatment system for depression, including the world’s largest depression outcomes database. Greenbrook treatment centers also offer SPRAVATO® (esketamine) Nasal Spray, a prescription medicine indicated for the treatment of treatment-resistant depression (TRD) in adults as monotherapy or in conjunction with an oral antidepressant.  It is also indicated for depressive symptoms in adults with major depressive disorder (MDD) with acute suicidal ideation or behavior in conjunction with an oral antidepressant.1 Greenbrook has provided more than 1.68 million treatments to over 51,000 patients struggling with depression. The NeuroStar Advanced Therapy System is cleared by the U.S. Food and Drug Administration for adults with MDD, as an adjunct for adults with obsessive-compulsive disorder, to decrease anxiety symptoms in adult patients with MDD that may exhibit comorbid anxiety symptoms (anxious depression), and as a first line adjunct for the treatment of MDD in adolescent patients aged 15-21. For safety information and indications for use, visit NeuroStar.com. Neuronetics Contact:Investors:Mike Vallie or Mark KlausnerICR Healthcare443-213-0499ir@neuronetics.com Media:EvolveMKD646.517.4220NeuroStar@evolvemkd.com References World Health Organization, Depression Fact Sheet. Accessed April 29, 2024. https://www.who.int/news-room/fact-sheets/detail/depression.  ________________________________* The effectiveness of SPRAVATO® in preventing suicide or in reducing suicidal ideation or behavior has not been demonstrated. Use of SPRAVATO® does not preclude the need for hospitalization if clinically warranted, even if patients experience improvement after an initial dose of SPRAVATO®. For more important safety information about SPRAVATO®, please visit spravatohcp.com.

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