BWAY PRESS-RELEASE SEC Filing Analysis

Latest settled — T+20d ⚠ clustered

BWAY ▲ +21.35% at T+20d

LONG call ✓ call won +21.35% · α vs SPY +10.68% · entry $13.49 → $16.37

Next anchor: T+60d in 10d

Currently $14.63 · +8.45% from $13.49 entry

Entry anchored
Mar 25, 03:59 PM ET
via Databento tick

T+1d

-4.60%

call -4.60% · α -2.92%

$12.87

settled 3mo ago

T+5d

+0.59%

call +0.59% · α -1.04%

$13.57

settled 2mo ago

T+20d

+21.35%

call +21.35% · α +10.68%

$16.37

settled 7w ago

T+60d

—

call — · α —

—

in 10d

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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

Deal Value

$6.0M

Actionable Insight

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.

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

cashstrategic investment valuefuture dilution risktotal addressable market expansion

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

Exchange

OTC

Sector

Surgical & Medical Instruments & Apparatus

Documents Analyzed

This report is based on 1 press release from GlobeNewswire.

Document	Accession Number
PRESS-RELEASE Data (Synthetic)	press-3262880

6 reports for BWAY

T+1T+5T+20T+60

100% Hit rate 4 of 4 directional calls best @ T+60▲ +27.55%Mar 4, 2026

Filters

Reports for BWAY — sortable, filterable
	Type				Now
May 18, 2026 26d ago	Press Release NEUTRAL ★ 4/10	$14.88 $15.89	▲ +6.79%	▲ +5.17%	$14.63 (−1.68%)
May 13, 2026 4w ago	Press Release BULLISH ★ 8/10	$16.31 $14.89	▼ −8.71%	▼ −7.55%	$14.63 (−10.30%)
Mar 26, 2026 11w ago	6-K BULLISH ★ 7/10	$13.49 $13.57	▲ +0.59%	▼ −1.04%	$14.63 (+8.45%)
Mar 26, 2026 11w ago	Press Release BULLISH ★ 7/10	$13.49 $13.57	▲ +0.59%	▼ −1.04%	$14.63 (+8.45%)
Mar 11, 2026 13w ago	Press Release BULLISH ★ 8/10	$13.77 $13.44	▼ −2.40%	▼ −0.21%	$14.63 (+6.25%)
Mar 4, 2026 14w ago	Press Release BULLISH ★ 8/10	$12.45 $13.77	▲ +10.60%	▲ +11.94%	$14.63 (+17.51%)

US Market Status

Market Closed — Opens Mon (47h 21m)

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