Nexstim Plc Depression Therapy Business Update
Helsinki, Finland: 14 January 2019 - Nexstim Plc (NXTMH:HEX, NXTMS:STO), the targeted neuromodulation company developing and marketing pioneering navigated personalised, non-invasive brain stimulation systems for the treatment of Major Depression Disorder (MDD), has shifted its resources and focus during year 2018 to generating Navigated Brain Therapy (NBT®) system sales for the treatment of MDD. This strategy has delivered good results with the company installing five NBT® depression therapy systems in the US since the launch of the depression indication in May of 2018. In Europe and rest of the world there are now a total of five NBT® systems installed for the treatment of depression.
All of the current NBT® systems in the US have been installed on a pay-per-use leasing model meaning that the majority of the NBT® therapy revenue from these systems will be recognized as net sales during year 2019. In the US, Nexstim is targeting an annual revenue level of about US$ 100 thousand per installed NBT® system. The European TMS markets are more varied and less developed than the US. As a result, Nexstim has adopted different targeted revenue models, which take into account the mix of private and public payors in each of the countries it operates.
More info on Nexstim's website.