Nexstim (NXTMH)

Business description

Nexstim sells a non-invasive brain stimulation technology (nTMS) used as a diagnostic device for brain surgery planning (NBS System). The therapy system (NBT) failed in Phase III for stroke but an FDA submission is planned

Stock data

Market cap.€17.8m
Last close€0.23
High / Low (52 weeks)€1.3 / €0.1
Stock market listingOMX
Forecast net debt (€m)1.5
Forecast gearing ratio (%)412
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual51.7(8.4)(82.8)
Relative *50.8(10.7)(84.9)

* % Relative to local index

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Company news

Nexstim Plc agrees the next steps of the NBT stroke de novo submission with ...

Thu, 15 Sep 2016 06:03:05 GMT

Nexstim Plc Updates Strategy and Future Outlook

Tue, 16 Aug 2016 06:03:59 GMT

Nexstim Plc Key Technology Patent Granted for Europe

Wed, 20 Apr 2016 06:02:15 GMT

Nexstim Plc provides key update on Phase III NICHE stroke therapy trial

Thu, 31 Mar 2016 06:03:13 GMT

Nexstim Plc Appoints Hanna Kotola as VP of Legal Affairs

Mon, 24 Apr 2017 06:00:00 GMT

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2015A 2.5 (10.0) (9.6) (119.0) N/A N/A
2016A 2.5 (6.4) (6.5) (54.0) N/A N/A
2017E 2.6 (4.6) (4.6) (8.0) N/A N/A
2018E 3.0 (2.8) (2.8) (5.0) N/A N/A

Last updated on 17/03/2017

Investment summary

A key uncertainty for Nexstim was removed in December as the FDA confirmed that only one additional stroke rehabilitation trial in 60 patients will be required to seek de novo 510(k) regulatory approval for the NBT system. The first patient was enrolled on 8 March. US approval might be obtained during Q418. Nexstim has used €8.8m from the Bracknor/Sitra funding arrangement and had €8.2m in cash in December. A further €3.2m can be raised from the arrangement. Excluding 30m issued warrants, this could fund Nexstim until late 2018. The NBS system achieved €2.5m in sales in 2016, with modest increases anticipated by Nexstim for 2017; new US distributors have been appointed. As of 14 March, there are 77.6m shares in issue.

Last updated on 04/04/2017

Industry outlook

Nexstim has developed a technology platform for diagnosis (NBS) and treatment (NBT) of vital motor and speech cortices in the brain. The system is CE marked and can be sold in the EU. Three US distributors covering 21 states have now been appointed.

Last updated on 04/04/2017

Key management

Martin Jamieson, CEO
Mikko Karvinen, CFO

Company address

Elimäenkatu 9 B
Helsinki
FI-00510
Finland
+358 9 2727 1710
View website