E-FIT stroke trial results disappoint
Update | 4 September 2018
Nexstim has reported that the pivotal E-FIT stroke trial did not show a clinically significant difference between active and sham treatment groups. The disappointment is particularly marked as the approach was technically so promising. A positive outcome would have led to the FDA approving Nexstim’s proven proprietary rTMS platform for the rehabilitation of stroke patients. Management intends to focus resources on commercialising the depression indication in the US and Europe. Whilst the strategic options are evaluated we are suspending our forecasts and valuation.
|Year-end: December 31||2017||2018E||2019E||2020E|
|Net Income (€m)||(7.3)||-||-||-|
4 September 2018
|Shares in issue||97.5m|
|12 month range||€0.05-0.40|
Nexstim has developed a proprietary navigated rTMS platform that is used in planning brain surgery (NBS) and has therapeutic uses (NBT) in stroke, depression, and chronic pain. FDA approval for depression was given in 2017; the stroke indication has suffered from disappointing results in the pivotal E-FIT Phase III study.
Mick Cooper PhD
+44 (0) 20 3637 5042
+44 20 3637 5041
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