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.
Nexstim’s strategic focus is firmly on fully exploiting the commercial potential of its SmartFocus NBT system in major depressive disorder (MDD), by leveraging its unique navigation capabilities and the positive impact on patient outcomes and health economics. Significant strides were made in 2019, the first year of strategic implementation: FY19 revenue grew 25% to €3.3m, with continued sales momentum in the NBT Therapy business (+131% to €1.5m). Alongside a stronger balance sheet and board and management changes, Nexstim is now undergoing a strategic review and update. This aims to refine its long-term outlook and financial objectives across the Therapy (NBT) and Diagnostics (NBS) businesses and includes evaluating various funding options and strategic alternatives. The review is expected to conclude in the spring; ahead of this, we maintain our €31.4m (€0.50/share) valuation.
| Symbol | Exchanges |
| NXTMH/NXTMS | Helsinki/Stockholm |