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Nexstim delivered its first ever profitable period in H221 and is guiding towards continued revenue growth and a positive operating result for FY22. Profitability and partnerships are central to FY22 strategic objectives. The recent Magnus Medical and PNC Management Services deals are trailblazers for a new technology licencing revenue stream and a deeper partnership business model for the US NBT therapy business respectively. The former deal includes a $4m upfront payment which addresses Nexsti
Companies: Nexstim PLC
Trinity Delta
2021 was an operationally successful year, with Nexstim achieving several strategic objectives as it works towards delivering higher revenues and improved profitability. Key 2021 goals met include reaching a MDD (major depressive disorder) patient data registry of >200 completed treatment sessions and securing the first partners, in Finland and the US, under plans to develop a deeper partnership business model for its NBT therapy business. 2022 should see further demonstration of strategic execu
Nexstim’s H121 report highlights its strategic focus is firmly on exploiting the commercial potential of the SmartFocus NBT system in depression, where its unique navigation capabilities are a clear differentiator. The strengthened balance sheet removes near-term uncertainty and allows investment in generating compelling clinical data. Priorities are to maintain the growth momentum of both NBT and NBS, particularly in the key US market, and to undertake trials to position NBT as the system of ch
Nexstim started 2021 on a positive footing with its Q121 business and clinical update highlighting incremental operational progress and a growing body of evidence in depression. The successful €6.4m (net) spring rights issue provides additional funds to support execution on the company’s 2020-24 corporate strategy, including funding further development of new accelerated iTBS treatment protocols. Resolutions at this week’s AGM authorised a 100 to 1 reverse share split to facilitate trading, posi
Nexstim has successfully raised the targeted €6.6m (€6.4m net), at a price of €0.03 (or SEK0.31) per issue share. The raise was oversubscribed by an equivalent of 178.1% of the maximum planned. A total of 219.8m new shares will be issued, of which 209.1m were through subscription rights (95.2% uptake). The remaining 10.7m offer shares (4.8%) were allocated to holders of subscription rights; no offer shares were allocated to nonholders of pre-emptive rights.
Nexstim has announced a subscription rights issue to raise around €6.6m (net), at a price of €0.03 (or SEK0.31) per issue share, with existing shareholders having pre-emptive rights of one new share for each two shares owned. A maximum of 219.8m new shares will be issued.
Nexstim delivered record revenues in FY20 and its lowest EBIT loss, successfully navigating a challenging year through careful cost control and new efficient ways of digital working which contributed to resilient NBT therapeutic and NBS diagnostic system sales. The company is well-positioned to drive a disruptive shift in depression treatment (and its delivery) with its accurately navigated SmartFocus transcranial magnetic stimulation (TMS) NBT technology; however, with end-December cash of €3.5
Nexstim has released a summary of the results from the pilot study on the use of accelerated iTBS protocol in treating severe depression at Kuopio University Hospital. This investigator-led trial uses Nexstim’s SmartFocus nTMS system with an accelerated iTBS protocol, with the results comparing the responses of 10 patients on a regimen of multiple daily sessions over one week against those seen in 10 patients undertaking conventional TMS.
Nexstim is well placed to benefit from the novel accelerated rTMS (transcranial magnetic stimulation) therapy protocols being developed for severe depression and chronic neuropathic pain. Its accurately navigated SmartFocus TMS NBT technology could provide the precision and reproducibility required for clinical success. Promising data, expected in Q121, from the ongoing pilot study in severe depression would guide the format of a proposed double-blind multi-centre trial. Success would open sizea
Nexstim has signed a purchase agreement to develop and deliver two prototype systems to be used as the enabling technology for a research project focused on stimulating and diagnosing the brain.
Nexstim has confirmed that two pilot studies, in severe depression and chronic neuropathic pain, using accelerated iTBS protocols with its NBT SmartFocus navigated TMS (transcranial magnetic stimulation) system will be starting at two leading Finnish university hospitals.
Nexstim delivered a record interim performance in H120 (revenues, operating result, and net loss) despite market turbulence caused by the COVID-19 pandemic. The business model has remained resilient with a solid NBS (Diagnostic) installed base and flexible pricing models, coupled with careful cost control. The 2020-24 corporate strategy update provides a road map to better exploit commercial opportunities with existing and new customers, where Nexstim’s navigated TMS (transcranial magnetic stimu
Nexstim’s €2.3m rights issue was materially oversubscribed, with bids for 273% of the offered shares. A total of 376.7m new shares, at €0.006, will be issued. The new funds provide the resources to continue to support its existing NBS and NBT businesses, and, importantly, invest in studies to explore attractive opportunities in severe depression and chronic neuropathic pain. Nexstim is carving out a promising, and sizeable, niche in depression; where the accuracy, reliability, and reproducibilit
Nexstim’s proprietary navigated transcranial magnetic stimulation (TMS) technology is at the core of its strategic review. Its accuracy, reliability, and reproducible effects are the key advantages and differentiating features vs the competition. These enable it to carve out a niche as a personalised and effective therapy (NBT) and diagnostic (NBS) for challenging brain disease and disorders. Nexstim’s proposed €2.2m rights issue will strength its balance sheet and provide the resources to conti
Research Tree provides access to ongoing research coverage, media content and regulatory news on Nexstim PLC. We currently have 46 research reports from 3 professional analysts.
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Shore Capital
Feature article: Steady as she goes, but could be better: A review of investment company liquidity since 2016 Liquidity is the lifeblood of equity markets. The measurement of liquid asset availability to a market or company is a way of gauging a market’s health. This article builds on our previous work, which analysed the liquidity data for non-financial trading companies, by applying the same analytical techniques to the investment companies (IC) space. We analyse liquidity for ICs as a whol
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Hardman & Co
Avon Protection’s capital markets day highlighted its continued focus on medium-term margin expansion (targeting operating margin of 14–16%), concentrating on its core business of respirators and head protection. The unwinding of the armour business, alongside the consolidation of Team Wendy (acquired in H220) should enable Avon to benefit from rising global defence spending. Its strong relationship with the US DoD, and organic growth opportunities with recurring revenue from necessary product r
Companies: Avon Protection PLC
Edison
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Cavendish
15th April 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: Change of Market: TheWorks (WRKS.L) a multi-channel value retailers of books, arts and crafts, stationery, toys and games, offering customers a differentiated propositio
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Hybridan
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17th April 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: 16 April 2024: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acquire the entire issued share capital of 3radi
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The Hardman & Co Healthcare Index (HHI) has been running since 2009. Its main function is to highlight the attractions of life sciences investments over the long term. For the second year running, apart from global economic influences affecting world markets, performance in 2023 was dented by the capital-intensive nature of the sector. The HHI fell 3.7%, to 483.8, underperforming the main London markets – FTSE 100 (+3.8%) and FTSE All-Share (3.8%) but outperforming the FTSE AIM All-Share Index (
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TRX is focused on the development and commercialisation of two proprietary processing technologies for the repair of soft tissue (dCELL®) and bone (BioRinse®). It has a broad portfolio of products used in biosurgery, orthopaedics and dental markets. Investment in tissue processing, manufacturing capacity and strong commercial partners, together with its “4S” strategy, has generated six consecutive reporting periods of strong growth, with TRX turning EBITDA-positive in 2023. Further growth in 202
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Cambridge Nutritional Sciences (CNS) has published its H1 2024 results to end September 2023. Group revenues grew 44% to £4.9m and gross profits increased by 63% to £3.1m, with the company benefitting from newfound operational efficiencies. With its now streamlined strategy focussing on the core Health & Nutrition business and the initial signs of an encouraging uptick in sales momentum, we believe the company is well positioned for growth that will help create future value for shareholders. We
Companies: Cambridge Nutritional Sciences PLC
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Venture Life has reported FY23 results to December 2023, following the February trading update. Revenues grew 17% in the year to £51.4m (our est. £50.7m) and adjusted EBITDA was £11.6m (our est. £11.6m). Cash conversion was 85%, generating £9.8m of cash from operations. Cash generation and no M&A in 2023 allowed the company to de-lever, closing FY23 with net debt to adjusted EBITDA at 1.3x. Management have focused on growth with three therapy areas generating double-digit revenue growth and onli
Companies: Venture Life Group Plc
Creo Medical has released a trading update for FY23, an active year for the company, with progress made across all business segments. Traction improved in H223, following Speedboat Inject’s European clearance for upper gastrointestinal (GI) procedures and the accelerated approval and launch of Creo’s slimmest electrosurgical device, Speedboat UltraSlim. Top-line growth was supported by continued streamlining of the cost structure, resulting in a better-than-expected underlying EBITDA loss (impro
Companies: Creo Medical Group Plc
Zoetis delivered a decent set of results for the last quarter of 2022 meeting analyst expectations as well as the high end of its management guidance. Despite the economic challenges, ongoing pandemic recovery, and the political unpredictability brought on by the war in Ukraine, they delivered operational growth for the year in each of their top 13 markets. The company's unique companion animal portfolio drove its 8% operational revenue increase for the year, growing 14% operationally. In compar
Companies: Zoetis (ZTS:NYSE)Zoetis, Inc. Class A (ZTS:NYS)
Baptista Research
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