MALVERN, PA — Neuronetics, Inc. (NASDAQ: STIM) announced that Steven Pfanstiel will join the company as Chief Financial Officer, effective July 15, 2025. He succeeds Steve Furlong, who will retire in March 2026 after six years in the role but will remain as Senior Advisor to the CEO through the transition period.
Under Furlong’s leadership, Neuronetics strengthened its financial foundation, navigated challenging market conditions, and executed the strategic acquisition of Greenbrook, which expanded the company’s mental health treatment network. “Steve Furlong has provided outstanding leadership as CFO over the past six years,” said Keith J. Sullivan, President and CEO. “His dedication and expertise have been invaluable to our success.”
Pfanstiel brings more than 20 years of experience in healthcare finance, most recently serving as CFO and COO at Marinus Pharmaceuticals before its acquisition by Immedica Pharma AB earlier this year. While at Marinus, he played a central role in launching the flagship product Ztalmy. His prior roles include leadership positions at Lifescan, Optinose, and various divisions of Johnson & Johnson, spanning pharmaceuticals, orthopedics, and diabetes care.
“We are thrilled to welcome Steve Pfanstiel,” Sullivan said. “His track record of driving growth and profitability makes him an ideal addition to our leadership team as we expand access to mental health treatments and deliver sustainable growth.”
Pfanstiel holds a Bachelor of Arts in Physics from Wabash College, an MBA in Finance from Indiana University’s Kelley School of Business, and a Master of Science in Environmental Systems Engineering from Clemson University.
In his statement, Pfanstiel expressed enthusiasm about Neuronetics’ mission and growth potential. “Neuronetics is clearly at the forefront of caring for patients suffering from mental health disorders,” he said. “There is a tremendous opportunity to foster further growth within this significant patient population. I look forward to working with the organization to create value for patients and shareholders as we transform mental healthcare.”
As part of his employment, Pfanstiel received an inducement grant of 400,000 restricted stock units, structured to vest over four years, contingent upon his continued employment.
Neuronetics also reaffirmed its financial guidance for the second quarter and full year 2025, citing the strong integration of Greenbrook operations and ongoing progress across key growth drivers. The company remains on track to achieve positive cash flow in the third quarter of 2025, a major step toward sustained profitability.
With this leadership transition, Neuronetics underscores its focus on operational excellence and long-term expansion in the mental health treatment sector.
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