Brainsway: Rises on better-than-expected Q3 revenue

Brainsway

25/11/2019 18:19

** U.S. shares of Israel-based brain technology co  BWAY.O 
up 12.9% at $9.43
    ** Revenue in Q3 ended Sept. 30 rose 38.1% to $5.93 mln,
beating Wall Street estimates of 5.71 mln  urn:newsml:reuters.com:*:nGNXbsgDvm
    ** Rise in revenue due to increased sales of Deep
Transcranial Magnetic Stimulation, its brain stimulation
technology used to treat patients with severe depression,
migraine headaches and OCD
    ** Company reports adjusted loss per share of 12 cents vs.
analysts' expectation of 13 cents
    ** In separate news, BWAY also announced a new CEO and
President, who will assume responsibilities from January 2020,
as part of its strategic transformation to U.S.-based leadership
 urn:newsml:reuters.com:*:nGNX3KgX4j
    ** Up to Friday's close, stock had fallen ~15% since its
U.S. public offering on April 17

 (Reporting by Ruhi Soni in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com;))