diff --git a/pynestml/__init__.py b/pynestml/__init__.py
index f07f6e49c..156981661 100644
--- a/pynestml/__init__.py
+++ b/pynestml/__init__.py
@@ -19,7 +19,7 @@
 # You should have received a copy of the GNU General Public License
 # along with NEST.  If not, see <http://www.gnu.org/licenses/>.
 
-__version__ = "7.0.0-post-dev"
+__version__ = "7.0.1"
 
 __all__ = ['cocos',
            'codegeneration',
diff --git a/setup.py b/setup.py
index 8eaca11e1..c07422a88 100755
--- a/setup.py
+++ b/setup.py
@@ -39,7 +39,7 @@
 
 setup(
     name="NESTML",
-    version="7.0.0-post-dev",
+    version="7.0.1",
     description="NESTML is a domain specific language that supports the specification of neuron models in a"
                 " precise and concise syntax, based on the syntax of Python. Model equations can either be given"
                 " as a simple string of mathematical notation or as an algorithm written in the built-in procedural"