10:40 AM EDT, 06/20/2024 (MT Newswires) -- NeuroOne Medical Technologies ( NMTC ) said Thursday that the Centers for Medicare and Medicaid Services has approved and granted a new ICD-10 procedure code for OneRF Ablation System, the firm's first device with a therapeutic indication.

The company said that effective Oct. 1, the code will allow hospital reporting of inpatient procedures that are performed using the OneRF Ablation system, which has the US Food and Drug Administration clearance for creation of radiofrequency lesions in nervous tissue for functional neurosurgical procedures.

The code positions OneRF Ablation System for broader adoption and awareness throughout the healthcare system, the firm said.

Shares of NeuroOne rose about 10% in recent trading.

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