Nexstim Oyj: Nexstim Receives an NBT System Order from a New Therapy Customer in Finland
Therapy Customer in Finland
Nexstim Plc (NXTMH:HEX, NXTMS:STO) ( Nexstim or Company ) announces that it has received a new NBT System order from a therapy customer in Finland.
This is a new customer for Nexstim and the system will be used to treat Major Depressive Disorder (MDD).
Nexstim s NBT System with SmartFocus nTMS is highly differentiated from other currently available TMS products due to its unique and highly sophisticated 3D navigation that uses its proprietary E-field algorithm to visualize the exact location, orientation, and magnitude of the stimulation.
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.
On December 18, 2020, the shares in Offentliga Hus i Norden AB (publ) (the
"Company") were given observation status on the grounds that
Samhällsbyggnadsbolaget i Norden AB ("SBB") had disclosed its intention
Strongest order intake in Mentice s history despite the corona pandemic
First quarter (January-March 2021)
Order book by end of the period was 72.9 (33.9) MSEK.
Net sales amounted to 32.3 (33.8) MSEK.
Operating income for the period before depreciations (EBITDA) totalled
-8.4 (-0,5) MSEK.
Earnings per share (EPS) was -0.50 (-0.21) SEK.
Cash flow from operating activities totalled -13.1 (1.5) MSEK.
CEO Göran Malmberg comments: Continued strong order intake, with the strongest order intake figure for a first quarter in Mentice s history on the back end of our strongest order intake for a fourth quarter ever (2020). Our net sales for the first quarter plus order book scheduled for 2021 is at 38% above the level from the same time last year. Net sales for the quarter slightly below last year s number due to deliveries being postponed due to the pandemic.
About Block 70 and the Mafraq Field
Block 70 is an onshore block that includes the shallow undeveloped Mafraq oil field. The Mafraq oil field was discovered by Petroleum Development Oman (PDO) in 1988 and was further delineated by four wells and 3D seismic in stages until 2010. Two wells were placed on pump production tests, of which one was placed on a 22-day test and produced a stable and cumulative volume of over 15,700 barrels of oil before operations were suspended. The Mafraq oil field is estimated by third parties to contain between 185 - 280 million barrels of original oil in place (OOIP). The productive reservoir is shallow, at approximately 430 m. below ground level.