Helsinki, Finland

Nexstim is a targeted neuro-modulation company that has developed a proprietary navigated rTMS platform for use in diagnostics (NBS) and therapeutics (NBT). NBS is used in planning brain surgery while NBT is focused on depression and chronic pain. FDA approval for depression was given in 2017, and the focus is on commercial roll out in the US, Europe and Asia.

Investment Perspective

2021 was an operationally successful year, with Nexstim achieving several strategic objectives as it works towards delivering higher revenues and improved profitability. Key 2021 goals met include reaching a MDD (major depressive disorder) patient data registry of >200 completed treatment sessions and securing the first partners, in Finland and the US, under plans to develop a deeper partnership business model for its NBT therapy business. 2022 should see further demonstration of strategic execution, with FY21 results (February 28) revealing the extent of financial progress, and results in H222 from the pilot study of accelerated treatment protocols in major depression could open a new inpatient market for Nexstim. Ahead of FY21 results and this pilot data we maintain our €59.1m (€8.84 per share) valuation.

Market information



Admirable execution on 2021 strategic goals
Update | 12 Jan 2022
Accelerated protocols could be a game changer
Outlook | 19 Aug 2021
Consolidating both shares and strategy
Update | 12 May 2021

Recent News

Results of pilot study in chronic pain Helsinki University Hospital
15 Dec 2021
Strategic investment into management services organisation of a California-based depression clinic
22 Nov 2021
Cooperation with private Finnish clinic
05 Nov 2021
Q321 business and clinical update
20 Oct 2021