Neuronetics Appoints New CFO Amid Expansion Plans

Neuronetics, a commercial-stage medical technology company, has appointed a new chief financial officer. The company is focused on developing products for neurohealth disorders and sells its NeuroStar Advanced Therapy System, a non-invasive TMS treatment for major depressive disorder, in the US. The system is intended for psychiatrists, primary care physicians, and pain management specialists.

Neuronetics, a commercial-stage medical technology company, has appointed Steven Pfanstiel as its new Chief Financial Officer, effective July 15, 2025. The appointment comes as Steve Furlong, who has served as CFO for the past six years, announces his intention to retire on March 31, 2026. Furlong will remain with the company as Senior Advisor to the CEO until the end of March 2026 to ensure a smooth transition [1].

Pfanstiel brings over 20 years of healthcare experience, most recently serving as CFO and COO at Marinus Pharmaceuticals. Prior to Marinus, he held senior financial leadership roles at Lifescan, Optinose, and Johnson & Johnson. His extensive background in medical technology and pharmaceutical companies makes him an ideal addition to Neuronetics' leadership team [1].

As part of his appointment, Pfanstiel received an inducement grant of 400,000 restricted stock units with specified vesting schedules. The company has reaffirmed its guidance for Q2 and full year 2025, expecting to achieve positive cash flow in Q3 2025. The outlook is supported by successful Greenbrook operations integration and progress in key growth initiatives [1].

Neuronetics focuses on developing products for neurohealth disorders and sells its NeuroStar Advanced Therapy System, a non-invasive TMS treatment for major depressive disorder, in the US. The system is intended for psychiatrists, primary care physicians, and pain management specialists. The company 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 [1].

The appointment of Pfanstiel is part of Neuronetics' ongoing efforts to strengthen its financial foundation and drive sustainable growth. 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 [1].

References:
[1] https://www.stocktitan.net/news/STIM/neuronetics-appoints-new-chief-financial-vh675ik2uo5p.html