Investors

Effective therapies and diagnostics for challenging brain diseases and disorders

Nexstim is a Finnish, globally operating growth-oriented medical technology company. Nexstim shares are listed on both Nasdaq First North Growth Market Finland and Nasdaq First North Growth Market Sweden.

Who We Are

Nexstim has developed a world-leading non-invasive brain stimulation technology called SmartFocus®. It is a navigated transcranial magnetic stimulation (nTMS) technology that enables individual treatment and diagnosis of patients with severe brain diseases and disorders.

In transcranial magnetic stimulation, pulses of electromagnetic fields target and interact with specific brain regions from outside the head. SmartFocus® is the only truly personalized navigated TMS commercially available. It allows stimulation to be given with accuracy and precision in the millimeter range based on each patient’s unique brain. Nexstim’s SmartFocus® TMS technology is used in both neurosurgical diagnostics (NBS System) and in therapy (NBT® System). Over 210 NBS systems and over 50 systems that include the functionalities of an NBT® system have been delivered to facilities worldwide.

What We Do

Diagnostics (NBS)

 

One of the most crucial pieces of information needed for neurosurgery is the tumor’s or other brain lesion’s location in relation to the essential functions and their connections in the patient’s brain.

SmartFocus® nTMS mapping with Nexstim’s NBS (Navigated Brain Stimulation) system is used when the tumor is thought to be close to important motor and language areas in the patient’s brain. SmartFocus® brain maps are useful when deciding the treatment option.

The Nexstim NBS system is the only FDA cleared and CE marked navigated TMS system for presurgical mapping of the speech and motor cortices of the brain.

Therapy (NBT®)

 

If pharmaceuticals are not working or a non-drug option is wanted, SmartFocus® nTMS conducted with Nexstim’s NBT® (Navigated Brain Therapy) system might be the answer for treatment of major depressive disorder or for chronic neuropathic pain.

It is important that TMS targets consistently the right location in the patient’s brain. We at Nexstim use the latest science – 3D brain imaging and proven navigation of the TMS – to be able to personalize the stimulation target and level for each patient and their unique brain anatomy.

Nexstim NBT® system is FDA cleared for the treatment of major depressive disorder and CE marked for the treatment of major depression and chronic neuropathic pain.

NBS 5+

In 2021, Nexstim launched the NBS 5+ in the United States. This new system configuration, that is also available to European customers, adds the NBT® software option to the NBS system. This means that the NBS 5+ enables the delivery of both diagnostic and therapeutic applications in the same system.

Where We Operate

Summary of CEO Statement H1 2022

"Nexstim continued its record high growth during the first half of 2022, achieving its all-time best performance in net sales, in the operating result, and in the result for the period. During the first half of 2022, our total net sales were EUR 6.8 million (H1 2021: 3.0), and our growth rate was higher than ever before at 129.6%. The strong growth enabled us to achieve our first profitable operating result for the half-year period, with the operating profit being EUR 2.3 million (H1 2021: -0.9).

Our rapid growth rate was mainly due to the sale of a technology license related to the NBT® system to Magnus Medical and the agreement license fee of around EUR 3.5 million, which was recognized as revenue during the first half of 2022. In addition, in our diagnostics and therapy businesses, the deliveries of system orders received in 2021 totaled around EUR 1.0 million during the review period. I would like to thank Nexstim’s customers, employees, partners, and investors for helping us achieve our record strong performance. In line with our main strategic goal, we will continue our profitable net sales growth throughout 2022, with the aim of achieving our first profitable financial year and minimizing future equity needs. 

Our strategic main goals for 2022 also include expanding Nexstim’s network of exclusive partner clinics, especially in the United States. This involves the installation of Nexstim systems in neuroscience centers in line with our revised strategy, mainly in cooperation with our partners. Our new partnerships focus on strategic investments in service organizations, especially in the vast U.S. market, but partnerships are also possible for targeted investments in the European and Asian markets. 
 

Despite the international tension, our outlook for 2022 continues to be positive. At Nexstim, we purposefully continue our work to enable personalized and effective therapies and diagnostics for challenging brain diseases and disorders. We strongly believe that our work supports the growth of shareholder value over the long term, in the form of stronger competitive advantages, rapid growth, and better financial performance. While remaining optimistic about the future, we will continue to monitor closely both the situation in Ukraine and the coronavirus pandemic as we promote our business."

Mikko Karvinen, CEO

 

Page last updated: 12 August 2022