Neuronetics appoints Steven Pfanstiel as CFO, succeeding Steve Furlong, and reaffirms growth guidance for 2025.
Quiver AI Summary
Neuronetics, Inc. has announced the appointment of Steven Pfanstiel as the new Chief Financial Officer, effective July 15, 2025, succeeding Steve Furlong, who will retire in March 2026 but will assist in the transition as a Senior Advisor. Pfanstiel brings over 20 years of financial expertise in healthcare, previously serving as CFO at Marinus Pharmaceuticals. He is expected to play a key role in driving growth and profitability as Neuronetics continues to expand access to its mental health treatments, particularly through its NeuroStar TMS technology. The company also reaffirmed its guidance for the second quarter and full year of 2025, citing successful integration of Greenbrook operations and aiming for positive cash flow by the third quarter.
Potential Positives
- Appointment of Steven Pfanstiel as new Chief Financial Officer brings significant experience in medical technology and pharmaceuticals, positioning the company for continued growth and excellence in financial management.
- Reaffirmation of guidance for the second quarter and full year 2025 indicates confidence in the company's operational performance and strategic direction.
- Neuronetics is on track to achieve positive cash flow in the third quarter of 2025, marking a critical milestone towards sustained profitability and financial health.
Potential Negatives
- The announcement of a new CFO could signal instability or change within the financial leadership of Neuronetics, as it indicates a transition away from Steve Furlong, who has been characterized as a key figure in the company's recent success.
- The significant inducement grant of 400,000 restricted stock units to the new CFO may raise concerns about high executive compensation practices, especially if the company's performance does not meet investor expectations.
- The reiteration of guidance amidst ongoing restructuring and uncertainties may lead to skepticism from investors about the company's ability to achieve projected targets given its history of losses and reliance on a small customer base for revenue.
FAQ
Who is the new Chief Financial Officer at Neuronetics?
Steven Pfanstiel has been appointed as the new Chief Financial Officer of Neuronetics.
What experience does Steven Pfanstiel bring to Neuronetics?
He has over two decades of healthcare experience, including roles in medical technology and pharmaceuticals.
How will Steve Furlong support the transition?
Steve Furlong will remain as Senior Advisor to the CEO until March 2026 to ensure a smooth transition.
What is Neuronetics' strategic vision under the new CFO?
The company aims to expand access to mental health treatments and deliver sustainable growth.
What is the company's guidance for 2025?
Neuronetics is reaffirming its guidance for the second quarter and full year 2025 amid ongoing integration efforts.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$STIM Insider Trading Activity
$STIM insiders have traded $STIM stock on the open market 13 times in the past 6 months. Of those trades, 0 have been purchases and 13 have been sales.
Here’s a breakdown of recent trading of $STIM stock by insiders over the last 6 months:
- STEPHEN FURLONG (EVP, CFO and Treasurer) has made 0 purchases and 6 sales selling 244,855 shares for an estimated $1,022,974.
- KEITH J SULLIVAN (President and CEO) has made 0 purchases and 3 sales selling 91,366 shares for an estimated $363,690.
- WILLIAM ANDREW MACAN (EVP, GC, CCO and CS) has made 0 purchases and 4 sales selling 33,487 shares for an estimated $132,726.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$STIM Hedge Fund Activity
We have seen 70 institutional investors add shares of $STIM stock to their portfolio, and 18 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- IKARIAN CAPITAL, LLC added 1,100,000 shares (+inf%) to their portfolio in Q1 2025, for an estimated $4,048,000
- VANGUARD GROUP INC added 1,024,680 shares (+80.0%) to their portfolio in Q1 2025, for an estimated $3,770,822
- MANATUCK HILL PARTNERS, LLC added 920,000 shares (+inf%) to their portfolio in Q1 2025, for an estimated $3,385,600
- SUSQUEHANNA INTERNATIONAL GROUP, LLP added 761,911 shares (+inf%) to their portfolio in Q1 2025, for an estimated $2,803,832
- MILLENNIUM MANAGEMENT LLC added 657,725 shares (+inf%) to their portfolio in Q1 2025, for an estimated $2,420,428
- GOLDMAN SACHS GROUP INC added 610,014 shares (+2993.3%) to their portfolio in Q1 2025, for an estimated $2,244,851
- MASTERS CAPITAL MANAGEMENT LLC removed 500,000 shares (-33.3%) from their portfolio in Q1 2025, for an estimated $1,840,000
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$STIM Analyst Ratings
Wall Street analysts have issued reports on $STIM in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Canaccord Genuity issued a "Buy" rating on 03/05/2025
- Citizens Capital Markets issued a "Market Outperform" rating on 03/05/2025
To track analyst ratings and price targets for $STIM, check out Quiver Quantitative's $STIM forecast page.
$STIM Price Targets
Multiple analysts have issued price targets for $STIM recently. We have seen 2 analysts offer price targets for $STIM in the last 6 months, with a median target of $7.5.
Here are some recent targets:
- William Plovanic from Canaccord Genuity set a target price of $8.0 on 03/05/2025
- Daniel Stauder from Citizens Capital Markets set a target price of $7.0 on 03/05/2025
Full Release
Steven Pfanstiel, a seasoned financial executive with extensive medical technology and pharmaceutical experience, replaces Steve Furlong as Chief Financial Officer following previously announced succession process
Neuronetics reiterates guidance for second quarter and full year 2025
MALVERN, Pa., July 15, 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, today announced that Steven Pfanstiel has been appointed as the company’s new Chief Financial Officer, effective July 15, 2025. Mr. Pfanstiel replaces Steve Furlong, who announced his intention to retire on March 31, 2026. Mr. Furlong will remain with the company, as Senior Advisor to the CEO, until the end of March 2026 to ensure a smooth transition.
"Steve Furlong has provided outstanding leadership as CFO over the past six years," said Keith J. Sullivan, President and Chief Executive Officer of Neuronetics. "He has been instrumental in strengthening Neuronetics' financial foundation, guiding us through challenging market conditions, and executing the Greenbrook acquisition. His dedication and expertise have been invaluable to our success, and his continued contributions during this transition period will be crucial to maintaining operational excellence."
Keith J. Sullivan continued, "We are thrilled to welcome Steve Pfanstiel to the Neuronetics team as our new CFO. Steve brings exceptional financial leadership along with deep expertise spanning both medical technology and pharmaceutical companies. His proven track record of driving growth and profitability at innovative companies makes him an ideal addition to our leadership team. Steve will be instrumental as we continue executing our strategic vision to expand access to our mental health treatments while delivering sustainable growth."
Mr. Pfanstiel is a seasoned financial executive with over two decades of healthcare experience. He most recently served as Chief Financial Officer and Chief Operating Officer at publicly-traded Marinus Pharmaceuticals prior to its acquisition by Immedica Pharma AB (private) in February of 2025. While at Marinus, he played a key role in the successful commercial launch of the company’s flagship product, Ztalmy. Prior to Marinus, Mr. Pfanstiel held senior financial leadership roles at multiple high-growth healthcare companies, including Lifescan (private) and Optinose (acquired by Paratek Pharmaceuticals). Earlier in his career, he held progressively senior finance roles at Johnson & Johnson across multiple product categories, including pharmaceuticals, orthopedics, and diabetes. Mr. Pfanstiel holds a Bachelor of Arts in Physics from Wabash College, an MBA in Finance from Indiana University's Kelley School of Business, and a Master of Science in Environmental Systems Engineering from Clemson University.
"I am excited to join Neuronetics at this pivotal time in the company's evolution," said Steven Pfanstiel, incoming Chief Financial Officer. "Neuronetics is clearly at the forefront of caring for patients suffering from mental health disorders. With the combination of its leading NeuroStar TMS technology and the scale of its Greenbrook network of clinics, there is a tremendous opportunity to foster further growth within this significant patient population. I look forward to working with the entire organization to create additional value for patients and shareholders, as we execute on our mission to transform mental healthcare."
In connection with his employment, Mr. Pfanstiel received an inducement grant of 400,000 restricted stock units, with 200,000 of such units vesting in substantially equal installments on the first, second, and third anniversary of Mr. Pfanstiel’s start date, and 200,000 of such units vesting substantially equal installments on the second, third, and fourth anniversary of Mr. Pfanstiel’s start date, in all cases subject to Mr. Pfanstiel’s continued employment with the Company on each such vesting date, and in all cases subject to the terms of the company’s 2020 Inducement Incentive Plan. In accordance with NASDAQ Listing Rule 5635(c)(4), the grant was approved by the Compensation Committee of the company’s Board of Directors and was made as a material inducement to Mr. Pfanstiel’s employment with the company.
In conjunction with this announcement, Neuronetics is reaffirming its guidance for the second quarter and full year 2025, driven by the ongoing successful integration of Greenbrook operations and continued progress across key growth drivers. The company remains well-positioned to achieve positive cash flow in the third quarter of 2025, marking a significant operational milestone in its path to sustained profitability.
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 7.4 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 registry. 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 1.8 million treatments to over 55,000 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.
“Safe harbor” statement under the Private Securities Litigation Reform Act of 1995:
Certain statements in this press release, including the documents incorporated by reference herein, include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created by those laws and other applicable laws and “forward-looking information” within the meaning of applicable Canadian securities laws. Statements in this press release that are not historical facts constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terms such as “may,” “will,” “would,” “should,” “expect,” “plan,” “design,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” “outlook” or “continue” as well as the negative of these terms and similar expressions. These statements are subject to significant risks and uncertainties and actual results could differ materially from those projected. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. These risks and uncertainties include, without limitation, risks and uncertainties related to: the effect of the transaction with Greenbrook on our business relationships; operating results and business generally; our ability to execute our business strategy; our ability to achieve or sustain profitable operations due to our history of losses; our ability to successfully complete the announced restructuring plans; our reliance on the sale and usage of our NeuroStar Advanced Therapy System to generate revenues; the scale and efficacy of our salesforce; our ability to retain talent; availability of coverage and reimbursement from third-party payors for treatments using our products; physician and patient demand for treatments using our products; developments in respect of competing technologies and therapies for the indications that our products treat; product defects; our revenue has been concentrated among a small number of customers; our ability to obtain and maintain intellectual property protection for our technology; developments in clinical trials or regulatory review of the NeuroStar Advanced Therapy System for additional indications; developments in regulation in the U.S. and other applicable jurisdictions; the terms of our credit facility; our ability to successfully roll-out our Better Me Provider Program on the planned timeline; our self-sustainability and existing cash balances; and our ability to achieve cash flow breakeven in the third quarter of 2025. For a discussion of these and other related risks, please refer to the Company’s recent filings with the SEC, which are available on the SEC’s website at www.sec.gov. These forward-looking statements are based on the Company’s expectations and assumptions as of the date of this press release. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this press release as a result of new information, future events, or changes in the Company’s expectations.
Investor Contact:
Mike Vallie or Mark Klausner
ICR Healthcare
443-213-0499
[email protected]
Media Contact:
EvolveMKD
646-517-4220
[email protected]
1 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.