Nexstim: Making an impression in depression
Nexstim leaves 2019 in a very different shape to how it entered the year, with its strategic focus firmly on fully exploiting the commercial potential of the SmartFocus NBT system in depression, by leveraging its unique navigation capabilities. The strengthened balance sheet means the company is better positioned to deliver on its new year’s resolutions for 2020 and build shareholder value. Priorities include continuing the growth momentum of NBT, particularly in the US; further building the clinical evidence base in depression and pain through increased usage; concluding the strategic licencing agreement with the leading US academic institution to expand the market opportunity; and securing funding through 2020-21. With commercial and financial progress made over 2019, we raise our valuation to €31.4m (€0.50/share).Nexstim Oyj. Nexstim Oyj is a Finland-based medical technology company. It is focused on improving rehabilitation for stroke patients through the use of noninvasive brain stimulation. Its offering comprises: a diagnostic tool for brain surgery planning, Navigated Brain Stimulation (NBS) System, which comprises navigated transcranial magnetic stimulation (nTMS) device for presurgical mapping (PSM) of the motor and speech cortices; and a device for stroke therapy called Navigated Brain Therapy (NBT) System, which focuses stimulation on targeted locations in the brain in order to enhance rehabilitation process. The NBT System targets upper limb motor disability and is under Phase III pivotal clinical trial study at rehabilitation sites in the United States. The Company's systems are used in over 100 facilities in research, therapy and neurosurgical planning purposes. Nexstim Oyj has two subsidiaries: Nexstim Inc and Nexstim Germany GmbH.
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