Company announcement, Inside information, Helsinki, 10 November 2020 at 9.00 am (EET)
Nexstim Plc (NXTMH:HEX, NXTMS:STO) ("Nexstim" or "Company") announces that it updates its future outlook.
The demand for the Company’s products and services has remained strong despite the changes in business environment due to Covid-19 epidemic. The company has also successfully implemented new ways of working remotely, which enables sales efforts and customer support despite the global pandemic. Nexstim estimates that the positive business development in the first half of 2020 will continue also in the second half.
Updated Future Outlook: Full year 2020 net sales are estimated to increase, and operating loss is expected to decrease in comparison to year 2019.
This updated future outlook replaces the previous 2020 financial guidance given on 3 April 2020, in which the Company estimated that based on its business forecast, the operating loss was expected to decrease in comparison to year 2019.
Mikko Karvinen, CEO
Further information is available on the website www.nexstim.com, or by contacting:
Mikko Karvinen, CEO
+358 50 326 4101
Erik Penser Bank AB (Certified Adviser)
+46 8 463 83 00
About Nexstim Plc
Nexstim is a Finnish, globally operating medical technology company. Our mission is to enable personalized and effective therapies and diagnostics for challenging brain diseases and disorders.
Nexstim has developed a world-leading non-invasive brain stimulation technology called SmartFocus®. It is a navigated transcranial magnetic stimulation (nTMS) technology with highly sophisticated 3D navigation providing accurate and personalized targeting of the TMS to the specific area of the brain.
SmartFocus® technology is used in Nexstim’s proprietary Navigated Brain Therapy (NBT®) system, which is FDA cleared for marketing and commercial distribution for the treatment of major depressive disorder (MDD) in the United States. In Europe, the NBT® system is CE marked for the treatment of major depression and chronic neuropathic pain.
In addition, Nexstim is commercializing its SmartFocus® based Navigated Brain Stimulation (NBS) system for diagnostic applications. The NBS system is the only FDA cleared and CE marked navigated TMS system for pre-surgical mapping of the speech and motor cortices of the brain. Nexstim shares are listed on the Nasdaq First North Growth Market Finland and Nasdaq First North Growth Market Sweden.