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Neuronetics to be Added to the Russell 2000®, 3000® and Microcap® Indexes
MALVERN, Pa., Oct. 01, 2018 (GLOBE NEWSWIRE) -- Neuronetics, Inc. (NASDAQ:STIM), a commercial-stage medical device company focused on designing, developing, and manufacturing products that improve the quality of life for patients who suffer from psychiatric disorders, announced today that it has been added to the Russell 2000®, Russell 3000® and Russell Microcap® Indexes, effective after market close on September 21, 2018, as part of Russell’s quarterly addition of companies with recent initial public offerings. Neuronetics is the maker of the NeuroStar® Advanced Therapy System, a non-drug, office-based therapy cleared by the FDA in 2008 to treat adult patients with Major Depressive Disorder (MDD) who have not seen success with at least one antidepressant medication in the current episode.
"We are pleased to be added to the Russell 2000 Index following our successful initial public offering in June,” said Chris Thatcher, President and CEO of Neuronetics, Inc. “As we continue to deliver best-in-class treatment to depression patients and execute on our mission of delivering neurohealth for people everywhere, we welcome the heightened visibility that results from inclusion in these widely followed indexes.”
The Russell 2000 Index measures the performance of the small-cap segment of the U.S. equity market and is a subset of the Russell 3000 Index. Membership in the Russell 2000 Index includes automatic inclusion in the appropriate growth and style indexes, such as the Russell Microcap Index, which represents small-cap and micro-cap stocks.
Russell Indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell U.S. Indexes. Russell Indexes are part of FTSE Russell, a leading global index provider. For more information on the Russell Indexes and the quarterly IPO reconstitution, visit the FTE Russell website.
Neuronetics is a commercial stage medical technology company focused on designing, developing and marketing products that improve the quality of life for patients who suffer from psychiatric disorders. Its first commercial product, the NeuroStar Advanced Therapy System, is a non-invasive and non-systemic office-based treatment that uses transcranial magnetic stimulation, or TMS, to create a pulsed, MRI-strength magnetic field that induces electrical currents designed to stimulate specific areas of the brain associated with mood. The system is cleared by the United States Food and Drug Administration, or FDA, to treat adult patients with major depressive disorder, or MDD, that have failed to achieve satisfactory improvement from prior antidepressant medication in the current episode.
Forward-Looking and Cautionary Statements
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, including as to the implications of the inclusion of Neuronetics’ common stock in the specified indexes. Forward-looking statements include statements about the company’s future plans and other potential future events and may be indicated by words such as, “anticipate,” “plan,” “expect,” “aim” or other similar words. While these forward-looking statements represent the company’s current judgment on what the future holds, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect the company’s beliefs only as of the date of this press release. Neuronetics is not obligating itself to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events.
For more information, please contact:
Mark R. Klausner
Leanne Scott Brown