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’s H121 report highlights its strategic focus is firmly on exploiting the commercial potential of the SmartFocus NBT system in depression, where its unique navigation capabilities are a clear differentiator. The strengthened balance sheet removes near-term uncertainty and allows investment in generating compelling clinical data. Priorities are to maintain the growth momentum of both NBT and NBS, particularly in the key US market, and to undertake trials to position NBT as the system of choice for the emerging accelerated therapy protocols in severe depression. Reflecting the commercial and financial progress achieved in the past year, we raise our valuation to €59.1m (€8.84/share).

Market information



Accelerated protocols could be a game changer
Outlook | 19 Aug 2021
Consolidating both shares and strategy
Update | 12 May 2021
Rights issue 178% oversubscribed
Lighthouse | 08 Apr 2021

Recent News

Q321 business and clinical update
20 Oct 2021
System orders from existing hospital customers in Finland
15 Sep 2021
Continuation of severe depression pilot study at Kuopio University Hospital
23 Aug 2021
MDD Patient Registry reaches 208 completed treatment sessions
20 Aug 2021