Welcome to our dedicated page for Nexalin Tech news (Ticker: NXL), a resource for investors and traders seeking the latest updates and insights on Nexalin Tech stock.
Nexalin Technology, Inc. (NASDAQ: NXL) is a pioneering company in the field of neurostimulation, offering non-invasive and drug-free therapies for individuals suffering from anxiety, depression, and insomnia. The company has developed a patented device that uses transcranial electrical stimulation (tES), producing a unique waveform designed to stimulate brain activity and normalize neurochemical levels. This treatment aims to provide lasting relief from mental health conditions without the adverse side effects typically associated with drugs or psychotherapy.
One of the core products from Nexalin is the Gen-1 device, classified as a Class II medical device by the U.S. Food and Drug Administration (FDA). This cranial electrotherapy stimulation (CES) device emits a waveform at 4 milliamps during treatments and has been shown to increase beta-endorphins significantly during clinical trials.
Nexalin is also advancing the development of its Gen-2 and Gen-3 HALO™ Clarity devices, which aim to offer deeper brain penetration and enhanced patient response without side effects. The company's Gen-2 device was recently approved by the National Medical Products Administration (NMPA) in China for treating insomnia and depression and is distributed in the Asia Pacific region through a joint venture with Wider Come Limited.
Recent achievements include a collaborative study involving the U.S. Department of Veterans Affairs and UC San Diego, which demonstrated a significant decrease in post-concussion syndrome (PCS) and PTSD symptoms in veteran patients using the Gen-2 device. Moreover, the company continues to gather clinical data supporting its neurostimulation technology and is making progress in advancing its new Gen-3 HALO™ Clarity Virtual Clinic model.
Nexalin is committed to addressing the global mental health crisis through innovative solutions. The company's non-invasive devices are developed to be undetectable to the human body, ensuring a comfortable treatment experience. With ongoing research and development, Nexalin aims to extend the reach of its therapies to benefit more people worldwide.
Nexalin Technology, Inc. (Nasdaq: NXL; NXLIW) provided a business update on March 27, 2023, highlighting progress in clinical trials for new neurostimulation devices aimed at treating mental health disorders. The Gen-2 and Gen-3 devices are expected to improve treatment efficacy without medication. Revenue for 2022 reached $1.3 million, a significant increase from $0.1 million in 2021, primarily due to more device sales. While operating expenses decreased to $2.8 million from $6.1 million, the net loss narrowed to $1.7 million per share. The company reports having $7.0 million in liquidity for future operations.
Nexalin Technology announced the appointment of Michael Nketiah as Senior Vice President of Quality, Clinical, and Regulatory. Nketiah brings over 23 years of experience in regulatory affairs and clinical operations, specifically with the FDA. His expertise will support the company in accelerating FDA clearance for its Generation 2 and Generation 3 neurostimulation devices, aimed at improving healthcare outcomes for mental and neurodegenerative illnesses. The Gen-2 device is designed to penetrate deeper into the brain using an advanced waveform, while the Gen-3 prototype will utilize a virtual-clinic model for treatment.
Nexalin Technology, Inc. (Nasdaq: NXL; NXLIW) provided a business update emphasizing its advancements in neurostimulation devices aimed at combating mental health disorders. The company is enhancing its Gen-1 device to a more powerful Gen-2 model with a waveform increase from 4 milliamps to 15 milliamps, expected to improve treatment efficacy. Plans for FDA submissions and clinical trials are outlined, including a strategy for addressing Major Depressive Disorder. Additionally, Nexalin reports progress with its devices in China and a recent white paper supporting its technology's effectiveness for anxiety treatment.
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