BWAY - BrainsWay shares fall despite supply deal with Gaelan Medical for Deep TMS

BrainsWay shares slide ([[BWAY]] -8.0%) despite striking an exclusive distribution agreement with Gaelan Medical Trade to supply its patented Deep Transcranial Magnetic Stimulation (Deep TMS) system.The Deep TMS system is currently marketed in various regions for brain disorders including major depressive disorder ((MDD)) and obsessive-compulsive disorder ((OCD)). The agreement allows access for the product to now be marketed and sold throughout the UAE.BrainsWay is currently conducting clinical trials of Deep TMS in various psychiatric, neurological, and addiction disorders.The company received FDA 510(k) clearance for its Deep TMS system for use as an aid in short-term smoking cessation in adults, in August last year.

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BrainsWay shares fall despite supply deal with Gaelan Medical for Deep TMS