Monitor Neurolief's commercial ramp, especially VA adoption and revenue traction, which could trigger the next $5M investment and increase acquisition likelihood. BrainsWay's valuation may re-rate if Proliv™Rx gains rapid market penetration.
Price Chart
Executive Summary
BrainsWay completed a $6 million milestone-based convertible loan to Neurolief following FDA approval of Neurolief's Proliv™Rx system for treatment-resistant depression. The investment expands BrainsWay's strategic reach into at-home neurostimulation, complementing its in-clinic Deep TMS™ technology, with potential for further funding and an option to acquire Neurolief outright.
Key Financial Metrics
Key Facts
- BrainsWay disbursed an additional $6 million convertible loan to Neurolief, triggered by FDA PMA approval of Proliv™Rx for MDD.
- Total investment in Neurolief now stands at $11 million, with a potential additional $5 million equity tranche tied to revenue performance.
- BrainsWay holds a call option to acquire all of Neurolief based on enterprise value or revenue multiple, depending on exercise timing.
- Neurolief’s Proliv™Rx is the first FDA-approved at-home neurostimulation device for treatment-resistant depression.
- Proliv™Rx and Relivion®MG are now included in the VA Federal Supply Schedule, enabling access to the VA health system.
Financial Impact
$6 million immediate outflow, $5 million potential future equity investment, total strategic exposure up to $16 million
Risk Factors
- Execution risk in Neurolief's commercialization of Proliv™Rx
- Potential future dilution if convertible debt converts or acquisition occurs
- Regulatory or reimbursement challenges for at-home neurostimulation
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3262880 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 8, 2026 24d ago | 6-K | $14.16 $13.63 | ▼ −3.74% | ▼ −3.08% | $12.71 (−10.24%) |
Aug 27, 2026 5w ago | 6-K | $14.40 $14.51 | ▲ +0.76% | ▲ +0.50% | $12.71 (−11.74%) |
Aug 12, 2026 7w ago | 6-K | $16.47 $14.97 | ▼ −9.11% | ▼ −7.14% | $12.71 (−22.83%) |
Aug 12, 2026 7w ago | 6-K | $16.60 $15.17 | ▼ −8.61% | ▼ −8.17% | $12.71 (−23.43%) |
Aug 12, 2026 7w ago | Press Release | $16.60 $15.17 | ▼ −8.61% | ▼ −8.17% | $12.71 (−23.43%) |
Jul 20, 2026 10w ago | 6-K | $16.50 $15.97 | ▼ −3.21% | ▼ −2.79% | $12.71 (−22.97%) |
Jul 16, 2026 11w ago | 6-K | $14.84 $16.51 | ▲ +11.25% | ▲ +12.92% | $12.71 (−14.35%) |
Jun 29, 2026 13w ago | Press Release | $15.17 $16.02 | ▲ +5.60% | ▲ +4.22% | $12.71 (−16.22%) |
Jun 22, 2026 14w ago | 6-K | $14.38 $15.17 | ▲ +5.49% | ▲ +5.95% | $12.71 (−11.61%) |
May 18, 2026 19w ago | Press Release | $14.88 $15.89 | ▲ +6.79% | ▲ +5.17% | $12.71 (−14.58%) |
US Market Status
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