Licensing discussions with academic centre end
Lighthouse | 17 January 2020
Trinity Delta view: Nexstim has achieved a great deal in the past year and is gaining market traction with its NBT platform in MDD. The changed situation with the leading academic centre is disappointing but NBT’s unique properties suggest a meaningful role is still likely. We have not included any contribution from this opportunity in our valuation and would only do so when the visibility is improved.
Our valuation was upgraded in our January Outlook to €31.4m, €0.50/share, up from €19.0m (€0.41/share), to reflect the progress that Nexstim has made. If certain value-inflection points are attained, we expect further increases in our valuation.
17 January 2020
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 its commercial roll out in the US, Europe and Asia.
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