Neuronetics Stock Drops As Traders Watch New TMS Research Effort
Neuronetics Inc. dropped 5.7% to $1.575 Tuesday. This comes after the company announced that new NeuroStar data will be presented this week at a big transcranial magnetic stimulation conference. NEUR opened at $1.67, hit $1.76 before slipping to around $1.57, with volume near 785,000 shares. Timing is key here. Neuronetics wants to prove its NeuroStar system has stronger evidence behind it, even as the company deals with a balance-sheet crunch. Transcranial magnetic stimulation, or TMS, is a non-invasive therapy that uses magnetic pulses on specific brain regions, usually for patients whose depression hasn’t responded to medication.