Home / Going-concern warnings / Neuronetics, Inc.
Filed 2026-05-05 · Form 10-Q · Accession 0001104659-26-055322 micro
Price before filing: $2.02 (2026-05-04 close, split/dividend-adjusted)
Market cap at flag: $151.0M (2026-05-05) · Latest: $134.9M (2026-10-16)
| Window | STIM | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -27.7% | +5.4% | -33.2% | 2026-06-04 |
| 90 days | +6.9% | +5.8% | +1.1% | 2026-08-03 |
| 180 days | pending | pending | until 2026-11-01 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 3 insiders sold $260K (10 sales); 1 insider bought $4.0M (10 purchases)
30 days after: 1 insider bought $754K (2 purchases)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2026-02-10 | MACAN WILLIAM ANDREW EVP, CLO and CS | Sale | 3,485 | $1.55 | $5K | no | Form 4 |
| 2026-02-10 | Sullivan Keith J President and CEO, Director | Sale | 40,976 | $1.55 | $64K | no | Form 4 |
| 2026-02-12 | MACAN WILLIAM ANDREW EVP, CLO and CS | Sale | 14,120 | $1.65 | $23K | no | Form 4 |
| 2026-02-12 | Sullivan Keith J President and CEO, Director | Sale | 33,847 | $1.65 | $56K | no | Form 4 |
| 2026-02-26 | MACAN WILLIAM ANDREW EVP, CLO and CS | Sale | 3,427 | $1.35 | $5K | no | Form 4 |
| 2026-02-26 | Sullivan Keith J President and CEO, Director | Sale | 8,452 | $1.35 | $11K | no | Form 4 |
| 2026-03-04 | MACAN WILLIAM ANDREW EVP, CLO and CS | Sale | 609 | $1.34 | $816 | no | Form 4 |
| 2026-03-17 | Chernett Jorey 10% owner | Purchase | 531,000 | $1.16 | $616K | no | Form 4 |
| 2026-03-18 | Chernett Jorey 10% owner | Purchase | 607,400 | $1.35 | $820K | no | Form 4 |
| 2026-03-19 | Chernett Jorey 10% owner | Purchase | 450,000 | $1.33 | $598K | no | Form 4 |
| 2026-03-19 | MACAN WILLIAM ANDREW EVP, CLO and CS | Sale | 16,005 | $1.34 | $21K | no | Form 4 |
| 2026-03-19 | Pfanstiel Steven Former EVP, CFO and Treasurer | Sale | 8,569 | $1.34 | $11K | no | Form 4/A |
| 2026-03-19 | Sullivan Keith J Former Officer & Director | Sale | 46,289 | $1.34 | $62K | no | Form 4 |
| 2026-03-20 | Chernett Jorey 10% owner | Purchase | 169,472 | $1.41 | $239K | no | Form 4 |
| 2026-03-25 | Chernett Jorey 10% owner | Purchase | 125,000 | $1.40 | $175K | no | Form 4 |
| 2026-03-26 | Chernett Jorey 10% owner | Purchase | 25,000 | $1.44 | $36K | no | Form 4 |
| 2026-03-27 | Chernett Jorey 10% owner | Purchase | 500,000 | $1.35 | $675K | no | Form 4 |
| 2026-03-30 | Chernett Jorey 10% owner | Purchase | 385,442 | $1.25 | $482K | no | Form 4 |
| 2026-04-20 | Chernett Jorey 10% owner | Purchase | 100,000 | $1.58 | $158K | no | Form 4 |
| 2026-04-21 | Chernett Jorey 10% owner | Purchase | 100,000 | $1.51 | $151K | no | Form 4 |
| 2026-05-05: red flag filed | |||||||
| 2026-05-12 | Chernett Jorey 10% owner | Purchase | 475,000 | $1.34 | $636K | no | Form 4 |
| 2026-05-19 | Chernett Jorey 10% owner | Purchase | 100,000 | $1.17 | $117K | no | Form 4 |
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2026-02-04 to 2026-06-04. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"Further, supply chain disruptions, transaction restrictions and increased costs for raw materials could adversely affect our business, which could have a material impact on our business and financial results. ​ Our financial condition raises substantial doubt as to our ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2026-03-31)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
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