This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Neuronetics, Inc. is a medical technology company that develops and markets transcranial magnetic stimulation (TMS) devices for the treatment of major depressive disorder. The company's core product, the NeuroStar Advanced Therapy System, is a Class II medical device cleared by the U.S. Food and Drug Administration. The development and regulatory clearance of such medical devices typically involves preclinical animal testing to assess safety and efficacy, as referenced in industry application guidelines. Neuronetics is listed by Cruelty Free Investors as a company involved in animal testing. This classification indicates the company's operations rely on procedures that exploit animals, placing it under the general animal exploitation exclusion category.
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A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.