Nexstim
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.

www.nexstim.com

Investment Perspective

Nexstim’s €2.3m rights issue was materially oversubscribed, with bids for 273% of the offered shares. A total of 376.7m new shares, at €0.006, will be issued. The new funds provide the resources to continue to support its existing NBS and NBT businesses, and, importantly, invest in studies to explore attractive opportunities in severe depression and chronic neuropathic pain. Nexstim is carving out a promising, and sizeable, niche in depression; where the accuracy, reliability, and reproducibility of its navigated transcranial magnetic stimulation (TMS) technology is clearly differentiated versus the competition. Our updated Nexstim valuation, reflecting the fund raise and share dilution, is €32.2m (€0.07/share).

Market information

SymbolExchanges
NXTMH/NXTMSHelsinki/Stockholm

Research

€2.3m rights issue is 273% subscribed
Update | 02 Jun 2020
Hitting the right spot
Update | 22 May 2020
€2.3m rights issue to progress both NBS and NBT
Lighthouse | 04 May 2020

Recent News

Two European NBS System upgrade orders in June
26 Jun 2020
Permanent CEO and CFO appointments
16 Jun 2020
Final results of the successful rights issue
10 Jun 2020
Preliminary results of the successful rights issue
01 Jun 2020