Nexstim Plc (NXTMH:HEX, NXTMS:STO) ("Nexstim" or "Company"), a medical technology company developing and marketing pioneering navigated non-invasive brain stimulation systems for both therapeutic and diagnostic applications announces the subscription of 110,000 new shares in Nexstim Plc based on stock options 2013A. The subscription price, i.e. EUR 1,100, will be recorded in the company’s invested unrestricted equity, and the new shares will be registered in the Trade Register on or around 19 September 2017. Trading in the new shares will commence on Nasdaq First North Finland and Nasdaq First North Sweden on or around 20 September 2017. After the registration of the new shares, the total number of registered shares in the Company will be 86,163,694.
Nexstim Plc holds a total of 772,268 stock options under the stock option plans 2016 and 2013A. The remaining outstanding stock options 2013A provide entitlement to subscribe for a maximum of 199,792 shares for EUR 0.01 per share. The share subscription period for stock option 2016 ends on 15 December 2025 and for stock option 2013A on 31 December 2020.
Martin Jamieson, CEO
About Nexstim Plc
Nexstim is a medical technology company developing and marketing pioneering navigated non-invasive brain stimulation systems for both therapeutic (NBT® system) and diagnostic (NBS system) applications. Nexstim's NBS system is the only FDA cleared and CE marked system based on navigated Transcranial Magnetic Stimulation (nTMS) for the pre-surgical mapping of the speech and motor cortices of the brain. Based on the same technology platform, the Company has developed the Navigated Brain Therapy (NBT®) which is CE marked in Europe for the treatment of stroke, major depression and chronic neuropathic pain.
Nexstim recently filed a 510(k) submission with FDA for NBT® system for the treatment of Major Depressive Disorder (MDD). Nexstim looks forward to introducing the NBT® system for this important indication in early 2018. The NBT® system is currently in a supplemental Phase III study, E-FIT trial, which will recruit 60 patients. The trial is expected to complete in Q2 2018, allowing Nexstim to file for FDA clearance. FDA clearance would allow Nexstim to start marketing and selling its NBT® system for stroke rehabilitation in the USA.
Nexstim shares are listed on the Nasdaq First North Finland and Nasdaq First North Sweden.