BWAY Shares Gain on Optum Expanding Deep TMS Coverage for Teens

Core Insights - BrainsWay Ltd. (BWAY) has expanded insurance coverage for its Deep TMS therapy in adolescent depression, indicating increased payer confidence in non-drug neurostimulation treatments and enhancing reimbursement visibility for younger patients [1][10]. Company Developments - Optum Behavioral Health has expanded its medical policy to include eligible adolescents, significantly increasing the number of covered lives and reinforcing the clinical acceptance of Deep TMS [2][10]. - The expansion of coverage is expected to strengthen BrainsWay by broadening its reimbursable patient base, improving utilization, and enhancing the lifetime value per system [4]. - BWAY's market capitalization stands at $334.8 million, with projected earnings growth of 100% for the current year [5]. Stock Performance - Following the announcement of the coverage expansion, BWAY shares rose by 10.1% at the market close, with a 53.6% increase over the past six months compared to the industry’s 5.5% growth and the S&P 500's 15.1% gain [3]. Industry Context - The global neuromodulation devices market is projected to grow from $5.80 billion in 2024 to $10.39 billion by 2030, with a CAGR of 8.51% from 2025 to 2030, driven by the rising incidence of chronic pain, neurological disorders, and mental health conditions [13]. - The expansion of Deep TMS coverage is particularly significant given the estimated 5 million adolescents aged 15-21 in the U.S. affected by major depression, a demographic with limited effective treatment options [12]. Future Prospects - BrainsWay is advancing its clinical footprint beyond depression with a new multicenter clinical trial for its next-generation Deep TMS 360 system aimed at treating Alcohol Use Disorder (AUD) [14].