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

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).

Market information



Licensing discussions with academic centre end
Lighthouse | 17 Jan 2020
Making an impression in depression
Outlook | 07 Jan 2020
Warrants to be topped up with share placement
Lighthouse | 22 Oct 2019

Recent News

Technology licencing discussions ended with leading California-based academic institution
16 Jan 2020
Directed share issue of approx €141k to Kreos Capital V (UK) Limited
18 Dec 2019
Health Canada grants Nexstim NBT medical device licence
05 Dec 2019
NBT System installed at Rockford Psychiatric Medical Services, US
02 Dec 2019