The defining inflection point expected within three weeks
Update | 17 August 2018
Nexstim has reported encouraging H118 results. The main operational highlight is the first US shipment of an NBT system for use in Major Depression, with further deliveries since the period end. However, the key news is confirmation that the top-line results of the E-FIT stroke trial are expected within three weeks. A positive outcome should lead to the FDA approving Nexstim’s proprietary rTMS platform for the rehabilitation of stroke patients. A comprehensive commercialisation plan has been prepared and a sizeable equity raise to implement this, and fund further clinical development, is planned for later in H218. We value Nexstim at €120m, equivalent to €0.97 per share (fully diluted).
|Net Income (€m)||(7.3)||(8.4)||(8.1)||(6.8)|
17 August 2018
|Shares in issue||97.5m|
|12 month range||€0.18-0.40|
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 is awaiting the results of the follow-up E-FIT Phase III study.
Mick Cooper PhD
+44 20 3637 5042
+44 20 3637 5043
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