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 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).

Market information

Symbol Primary exchange Currency
NXTMH First North Helsinki EUR
Last Price Market Cap
52 Week Low 52 Week High


Achieving commendable outcomes in depression
Update | 20 Dec 2018
Navigating the opportunity in depression
Update | 11 Oct 2018
E-FIT stroke trial results disappoint
Update | 04 Sep 2018

Recent News

Rights issue in planning
12 Mar 2019
Invitation to 2019 AGM
04 Mar 2019
FY18 results
04 Mar 2019
Depression therapy business update
14 Jan 2019