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 148,160 new shares in Nexstim Plc based on stock options 2013A. The subscription price, i.e. EUR 1,481.60 will be recorded in the company’s invested unrestricted equity, and the new shares will be registered in the Trade Register on or around 30 January 2018. Trading in the new shares will commence on Nasdaq First North Finland and Nasdaq First North Sweden on or around 31 January 2018. After the registration of the new shares, the total number of registered shares in the Company will be 93,321,764.
There are 123,900 stock options remaining under the stock option plan 2013A, out of which Nexstim Plc holds 72,268 option rights. The remaining outstanding stock options 2013A provide entitlement to subscribe for a maximum of 51,632 shares for EUR 0.01 per share. The share subscription period for stock option 2013A ends on 31 December 2020.
In addition to stock option plan 2013A, there are a total of 7,700,000 stock options under the stock option plans 2016B, 2016C and 2017.
Martin Jamieson, Chairman and 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 has received clearance from the FDA for marketing and commercial distribution of its NBT® system for the treatment of Major Depressive Disorder (MDD) and looks forward to introducing the NBT® system for this important indication during H1 2018.
The NBT® system is currently in a 60 patient, supplemental Phase III study, E-FIT trial, for its use in stroke rehabilitation. The trial is expected to complete in mid-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.