Press release, Helsinki, 28 April 2026 at 9 AM (EEST)
Nexstim Plc Business Update Q1 2026
Nexstim Plc ("Nexstim" or "Company") announces the key highlights of the Company's business operations during Q1 2026.
CEO Mikko Karvinen's Business Update
2026 has started off well with our team having focused on making progress in reaching our key strategic objectives. In line with our strategy, Nexstim will continue to enable patients to receive personalized and effective treatment and diagnostics for severe brain diseases and disorders.
In line with our main strategic objective, we have continued to focus on profitable net sales growth. The sales of new systems at the beginning of this year have been slow, which is typical considering that hospitals' budgets focus on purchases towards the end of the year. Between January and March 2026, we delivered a total of 2 (1-3/2025: 2) new diagnostics systems and 1 (1-3/2025: 0) system for research use. In addition to the delivered systems, we had an open order backlog of 2 undelivered systems at the end of Q1 2026.
In the Diagnostics Business, more than 265 systems have been sold to research universities and leading hospitals across the world to date. In the Therapy Business, at the end of Q1 2026 there were a total of 137 Nexstim systems with therapy capabilities installed worldwide (52 in the U.S. and 85 in Europe and the rest of the world) for the treatment of depression and chronic neuropathic pain. In addition to therapy systems, this number includes diagnostics systems that have an optional therapy add-on software installed. The certification received for the use of the NBS 6 system for post-operative motor rehabilitation under MDR regulation in the EU creates future growth opportunities for our Therapy Business. In addition, in March we announced Nexstim having received FDA clearance for the use of the NBS 6 system as an adjunct for the treatment of Obsessive Compulsive Disorder (OCD) in adult patients, and for the treatment of Major Depressive Disorder (MDD) in adolescent patients, 15 to 21 years of age, that have failed to achieve satisfactory improvement from prior antidepressant medication in the current episode.
Our second key strategic objective for 2026 is to successfully support the long-term collaboration between Nexstim and Brainlab SE ("Brainlab") and to expand the network of other partners and clinics. Combining Nexstim's technological know-how and superior services together with the huge business growth potential Brainlab brings through their innovative products, which integrate with Nexstim's offerings and its customers base at leading hospitals globally, will create greatest value for patients, neurosurgeons, hospitals and shareholders. Outside of Brainlab-exclusive areas, Nexstim independently continues to develop, market, and sell its products and services in all markets for current and future neuroscience research applications and therapy applications. Nexstim will work with its own direct sales team, as well as other distributors and business partners, to advance these efforts. Over the winter and spring, we have advanced this strategic objective by for example taking part in significant events of the field as partners: in the United States, we have attended the Baptist Health TMS Symposium in Florida, and will be taking part in the American Association of Neurological Surgeons (AANS) Annual Scientific Meeting in San Antonio, Texas in early May. In Europe, we attended the Annual Meeting of the German Society for Clinical Neurophysiology and Functional Imaging (DGKN) organized in Augsburg, Germany as well as the European Low-Grade Glioma Network (ELGGN) Annual Meeting in Montpellier, France. The events mentioned showed increased demand for Nexstim motor and speech mapping integrated into the current product portfolio of Brainlab.
Another partnership that we have taken steps forward with is the planned collaboration with Sinaptica Therapeutics, Inc. ("Sinaptica"). Nexstim has a Letter of Intent with Sinaptica regarding the development, manufacturing, and supply of Sinaptica's patented precision neuromodulation system custom-built upon the Nexstim NBS 6 system with its advanced TMS-EEG and precision neuronavigation capabilities, integrated with Sinaptica's proprietary MAINTAIN cloud-based personalization engine, for the treatment of Alzheimer's Disease and MCI (mild cognitive impairment). The planned partnership would be a worldwide, 10-year exclusive arrangement. The financial structure of the collaboration consists of an upfront exclusivity agreement signing fee, a milestone-based development project, and clinical & commercial system sales. The milestone-based development project and clinical system sales are defined in more detail in the definitive agreements subject to changes during the negotiations. The long-term exclusive arrangement depends on the signing of the definitive agreements before the end of 2026. At Nexstim, we're committed to collaborating with Sinaptica and supporting them with research system validation and deliveries on their way to new clinical trials.
Our third strategic objective for 2026 is to further strengthen our technological leadership by improving and innovating the NBS 6 neurosurgical workflow and the TMS-EEG research interface. These developments will support deeper integration into Brainlab's product workflows and further facilitate the work of our TMS-EEG research customers, including Sinaptica. Continuous development of new product generations and new modules are an essential part of Nexstim's strategy period extending to 2028. We have recently noted a growing interest and demand towards the use of our advanced system in the research and development of Brain-Computer Interface (BCI). This field of application has gained wide-spread interest in the international events of the field and plays a major role in China's long-term technology and industry strategy. BCI is included in the country's 15th 5-year plan that extends to 2030.
Despite the global political situation that has been tense during the first months of 2026, our expectations for 2026 are positive. Our current business is strongly focused on the EU and the United States, but with our new partnerships, we continue to expand the reach of Nexstim's technology increasingly into the Asian markets. Nexstim remains determined in developing individualized and effective methods for treating and diagnosing severe brain diseases and disorders. We strongly believe our work will support long-term shareholder value growth through stronger competitive advantages, rapid growth, and improved financial performance.
Further information is available on the website www.nexstim.com, or by contacting:
Mikko Karvinen, CEO
+358 50 326 4101
mikko.karvinen@nexstim.com
The Company's Certified Adviser is DNB Carnegie Investment Bank AB.
About Nexstim Plc
Nexstim is a Finnish, globally operating growth-oriented medical technology company. Our mission is to enable personalized and effective diagnostics and therapies for challenging brain diseases and disorders.
Nexstim has developed a world-leading non-invasive brain stimulation technology for navigated transcranial magnetic stimulation (nTMS) with highly sophisticated 3D navigation providing accurate and personalized targeting of the TMS to the specific area of the brain.
Nexstim's Diagnostics Business focuses on commercialization of the NBS System 6, which 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's Therapy Business markets and sells the NBS System 6 which is FDA-cleared for marketing and commercial distribution for the treatment of Major Depressive Disorder (MDD) in adult and adolescent patients who have failed to achieve satisfactory improvement from prior antidepressant medication in the current episode, and as an adjunct for the treatment of adult patients suffering from Obsessive Compulsive Disorder (OCD). In Europe, the NBS 6 system is CE-marked for the treatment of major depression, chronic neuropathic pain as well as post-operative rehabilitation of motor deficits of the upper limb.
Nexstim shares are listed on Nasdaq First North Growth Market Finland.
For more information, please visit www.nexstim.com.
