FDA approves Brainsway’s transcranial magnetic stimulator

Israel-based Brainsway has obtained FDA approval for its non-invasive transcranial magnetic stimulation device (Deep TMS) for the treatment of obsessive-compulsive disorder (OCD) in adults, a condition affecting approximately 2 billion people in the US, according to estimates. Brainsway’s shares have soon reacted to the positive news by rising over 16% (Tel Aviv), taking the company’s capitalization to ILS407m; Brainsway’s shares have increased by 45% YTD. Importantly, the product was already granted FDA approval in 2013 for the treatment of major depressive disorder (MDD) resistant to traditional treatments. Brainsway’s device is different from competitors, as it reaches deeper brain tissues and acts on a wider area, which results in higher efficacy and shorter treatment times.

(Source: Brainsway)