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BWAY Shares Rise on Strategic Investment in Neurolief's At-Home Care
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Key Takeaways
BrainsWay invested $5M in Neurolief to enter the at-home mental health treatment market.
Neurolief's Proliv Rx targets treatment-resistant depression and awaits FDA approval.
The deal includes future milestone-based funding and a call option for full acquisition.
BrainsWay Ltd. (BWAY - Free Report) recently took a strategic step to expand its reach in the mental health market through a $5 million investment in Neurolief Ltd., a developer of wearable, non-invasive neuromodulation devices. The investment positions BrainsWay to enter the at-home treatment space, an area that could complement its established Deep TMS platform and broaden its long-term growth prospects.
Neurolief is advancing Proliv Rx, a novel therapy designed for Major Depressive Disorder (MDD), one of the most prevalent and disabling mental health conditions worldwide. With millions of patients struggling to respond to first-line treatments, the opportunity for innovative, accessible therapies remains significant, underscoring the potential impact of this collaboration.
Likely Trend of BWAY Stock Following the News
Following the announcement, the company's shares gained 1.5% at yesterday’s market closing. Shares of the company have surged 59% in the year-to-date period compared with the industry’s 7.5% growth. The S&P 500 has gained 8.6% in the same time frame.
This investment gives BrainsWay a strategic foothold in the fast-growing at-home mental health treatment market, expanding its total addressable market (TAM) beyond the clinic-based Deep Transcranial Magnetic Stimulation (Deep TMS) platform. By leveraging Neurolief’s wearable neuromodulation technology, BrainsWay can diversify revenue streams, capture patients who face barriers to in-clinic care, and strengthen its competitive positioning in depression treatment, a segment with high unmet demand and long-term growth potential.
BWAY currently has a market capitalization of $279.2 million. The company projects an earnings growth of 88.9% for the current year.
Image Source: Zacks Investment Research
Details of the Investment
BWAY has entered a multi-phased transaction with Neurolief through an initial $5 million convertible loan. The agreement provides for additional milestone-based funding, including a second tranche of up to $6 million upon FDA approval of Neurolief’s Proliv Rx system for MDD treatment, and a third tranche of up to $5 million in equity investment contingent on Neurolief achieving a revenue milestone. BrainsWay has also secured a call option to acquire all outstanding equity interests in Neurolief during specified exercise windows, with the valuation tied to a defined enterprise value or revenue multiple.
Neurolief is advancing Proliv Rx, a wearable neuromodulation device pending FDA Premarket Approval for treatment-resistant MDD. The company already has Relivion MG approved in the United States, Europe and Japan for migraine treatment. If Proliv Rx secures FDA clearance, it will become the first medical device approved to deliver MDD treatment outside of a clinical setting, opening a new segment in mental health care delivery.
Strategic Fit With Deep TMS Platform
This investment positions BrainsWay to complement its existing Deep TMS platform with an at-home treatment option, broadening its scope across both clinic-based and remote care environments. The ability to address patients who cannot easily access clinics enhances the company’s reach while reinforcing its presence in mental health solutions for both providers and patients.
For investors, the move signals a pathway to diversify BrainsWay’s portfolio and expand its TAM. At-home neuromodulation offers potential for higher patient adoption and longer-term treatment engagement, while also creating opportunities for synergies between BrainsWay’s established commercial infrastructure and Neurolief’s innovation. This combination can strengthen BrainsWay’s competitive edge in the growing market for depression treatment.
Favorable Industry Prospects for BWAY
Per a report by Grand View Research, the global neuromodulation devices market size was estimated at $5.80 billion in 2024 and is projected to reach $10.39 billion by 2030, registering a CAGR of 8.51% from 2025 to 2030.
The increasing incidence of chronic pain, neurological disorders, and mental health conditions is expected to drive the demand for effective and innovative treatment solutions.
BWAY’s Zacks Rank & Key Picks
Currently, BWAY carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space that have announced quarterly results are Medpace Holdings, Inc. (MEDP - Free Report) , West Pharmaceutical Services, Inc. (WST - Free Report) and Boston Scientific Corporation (BSX - Free Report) .
Medpace Holdings, sporting a Zacks Rank of 1 (Strong Buy), reported second-quarter 2025 EPS of $3.10, beating the Zacks Consensus Estimate by 3.3%. Revenues of $603.3 million outpaced the consensus mark by 11.5%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Medpace Holdings has a long-term estimated growth rate of 11.4%. MEDP’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 13.9%.
West Pharmaceutical reported second-quarter 2025 adjusted EPS of $1.84, beating the Zacks Consensus Estimate by 21.9%. Revenues of $766.5 million surpassed the Zacks Consensus Estimate by 5.4%. It currently flaunts a Zacks Rank #1.
West Pharmaceutical has a long-term estimated growth rate of 8.5%. WST’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 16.8%.
Boston Scientific reported second-quarter 2025 adjusted EPS of 75 cents, beating the Zacks Consensus Estimate by 4.2%. Revenues of $5.06 billion surpassed the Zacks Consensus Estimate by 3.5%. It currently carries a Zacks Rank #2 (Buy).
Boston Scientific has a long-term estimated growth rate of 14%. BSX’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 8.1%.
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BWAY Shares Rise on Strategic Investment in Neurolief's At-Home Care
Key Takeaways
BrainsWay Ltd. (BWAY - Free Report) recently took a strategic step to expand its reach in the mental health market through a $5 million investment in Neurolief Ltd., a developer of wearable, non-invasive neuromodulation devices. The investment positions BrainsWay to enter the at-home treatment space, an area that could complement its established Deep TMS platform and broaden its long-term growth prospects.
Neurolief is advancing Proliv Rx, a novel therapy designed for Major Depressive Disorder (MDD), one of the most prevalent and disabling mental health conditions worldwide. With millions of patients struggling to respond to first-line treatments, the opportunity for innovative, accessible therapies remains significant, underscoring the potential impact of this collaboration.
Likely Trend of BWAY Stock Following the News
Following the announcement, the company's shares gained 1.5% at yesterday’s market closing. Shares of the company have surged 59% in the year-to-date period compared with the industry’s 7.5% growth. The S&P 500 has gained 8.6% in the same time frame.
This investment gives BrainsWay a strategic foothold in the fast-growing at-home mental health treatment market, expanding its total addressable market (TAM) beyond the clinic-based Deep Transcranial Magnetic Stimulation (Deep TMS) platform. By leveraging Neurolief’s wearable neuromodulation technology, BrainsWay can diversify revenue streams, capture patients who face barriers to in-clinic care, and strengthen its competitive positioning in depression treatment, a segment with high unmet demand and long-term growth potential.
BWAY currently has a market capitalization of $279.2 million. The company projects an earnings growth of 88.9% for the current year.
Image Source: Zacks Investment Research
Details of the Investment
BWAY has entered a multi-phased transaction with Neurolief through an initial $5 million convertible loan. The agreement provides for additional milestone-based funding, including a second tranche of up to $6 million upon FDA approval of Neurolief’s Proliv Rx system for MDD treatment, and a third tranche of up to $5 million in equity investment contingent on Neurolief achieving a revenue milestone. BrainsWay has also secured a call option to acquire all outstanding equity interests in Neurolief during specified exercise windows, with the valuation tied to a defined enterprise value or revenue multiple.
Neurolief is advancing Proliv Rx, a wearable neuromodulation device pending FDA Premarket Approval for treatment-resistant MDD. The company already has Relivion MG approved in the United States, Europe and Japan for migraine treatment. If Proliv Rx secures FDA clearance, it will become the first medical device approved to deliver MDD treatment outside of a clinical setting, opening a new segment in mental health care delivery.
Strategic Fit With Deep TMS Platform
This investment positions BrainsWay to complement its existing Deep TMS platform with an at-home treatment option, broadening its scope across both clinic-based and remote care environments. The ability to address patients who cannot easily access clinics enhances the company’s reach while reinforcing its presence in mental health solutions for both providers and patients.
For investors, the move signals a pathway to diversify BrainsWay’s portfolio and expand its TAM. At-home neuromodulation offers potential for higher patient adoption and longer-term treatment engagement, while also creating opportunities for synergies between BrainsWay’s established commercial infrastructure and Neurolief’s innovation. This combination can strengthen BrainsWay’s competitive edge in the growing market for depression treatment.
Favorable Industry Prospects for BWAY
Per a report by Grand View Research, the global neuromodulation devices market size was estimated at $5.80 billion in 2024 and is projected to reach $10.39 billion by 2030, registering a CAGR of 8.51% from 2025 to 2030.
The increasing incidence of chronic pain, neurological disorders, and mental health conditions is expected to drive the demand for effective and innovative treatment solutions.
BWAY’s Zacks Rank & Key Picks
Currently, BWAY carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space that have announced quarterly results are Medpace Holdings, Inc. (MEDP - Free Report) , West Pharmaceutical Services, Inc. (WST - Free Report) and Boston Scientific Corporation (BSX - Free Report) .
Medpace Holdings, sporting a Zacks Rank of 1 (Strong Buy), reported second-quarter 2025 EPS of $3.10, beating the Zacks Consensus Estimate by 3.3%. Revenues of $603.3 million outpaced the consensus mark by 11.5%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Medpace Holdings has a long-term estimated growth rate of 11.4%. MEDP’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 13.9%.
West Pharmaceutical reported second-quarter 2025 adjusted EPS of $1.84, beating the Zacks Consensus Estimate by 21.9%. Revenues of $766.5 million surpassed the Zacks Consensus Estimate by 5.4%. It currently flaunts a Zacks Rank #1.
West Pharmaceutical has a long-term estimated growth rate of 8.5%. WST’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 16.8%.
Boston Scientific reported second-quarter 2025 adjusted EPS of 75 cents, beating the Zacks Consensus Estimate by 4.2%. Revenues of $5.06 billion surpassed the Zacks Consensus Estimate by 3.5%. It currently carries a Zacks Rank #2 (Buy).
Boston Scientific has a long-term estimated growth rate of 14%. BSX’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 8.1%.