Nexalin Tech Stock Price, News & Analysis

Nexalin Technology (Nasdaq: NXL) has been selected as a founding member of Breaking Barriers to Substance Use Recovery, a coalition focused on addressing opioid use disorder in the USA. The organization aims to identify and dismantle obstacles to effective treatment through advocacy, policy solutions, and public education campaigns.

CEO Mark White participated in the inaugural meeting in Washington D.C. in June 2024, joining other industry leaders. The coalition plans to deploy Nexalin's neurostimulation technologies to provide accessible and innovative treatment for those affected by the opioid epidemic.

A key focus of the organization is advocating for Virtual-Based Opioid Treatment (VBOT), which aims to overcome traditional barriers to treatment, especially for veterans and rural communities. The initiative seeks to create a model using innovative virtual technologies and services, coupled with AI and data-driven methodologies.

Nexalin Technology closed a public offering of 3,000,000 shares of common stock at $1.75 per share, raising approximately $5.25 million in gross proceeds before fees and expenses. The offering was facilitated by Maxim Group as the sole placement agent.

The shares were registered under a Form S-1 registration statement, which the SEC declared effective on June 27, 2024. A final prospectus was filed on June 28, 2024, and the offering concluded on July 1, 2024.

This announcement does not constitute an offer or solicitation to sell these securities in any jurisdiction where such would be unlawful.

Nexalin Technology announced the pricing of a $5.2 million public offering, involving 3,000,000 shares of common stock at $1.75 per share. The company expects to generate gross proceeds of approximately $5.25 million before fees and expenses. Maxim Group is the sole placement agent for this offering, which is scheduled to close on July 1, 2024, contingent on standard closing conditions. This offering was made under a registration statement declared effective by the SEC on June 27, 2024. The final prospectus will be filed with the SEC, and copies can be obtained from Maxim Group

Nexalin Technology (Nasdaq: NXL; NXLIW) announced positive outcomes from a clinical study on their Deep Intracranial Frequency Stimulation (DIFS®) technology combined with escitalopram (Lexapro) for treating major depressive disorder (MDD). The 4-week, double-blind, randomized trial included 66 participants. Results showed that 66.7% of patients receiving the combination therapy improved, compared to 33.3% in the control group. The study revealed significant reductions in Hamilton Depression Rating Scale (HAMD-17) scores and found no serious adverse events. These findings were published in the journal Brain Stimulation, affirming the efficacy and feasibility of combining tACS with antidepressants for MDD treatment.

Nexalin Technology announced that the USPTO has awarded it U.S. Patent No 12,011,591 for its non-invasive Deep Intracranial Frequency Stimulation (DIFS®) device, designed to treat Alzheimer's and dementia-related diseases. The patent covers the Gen-2 and Gen-3 devices that use a proprietary frequency-based waveform for pain-free, undetectable brain stimulation. The global dementia treatment market is projected to grow from over $18 billion to $28 billion by 2030. The device also holds potential for other mental health disorders, including depression, migraines, anxiety, insomnia, addiction, and PTSD. The new patent enhances Nexalin's intellectual property portfolio and reflects significant advancements over the Gen-1 system. CEO Mark White emphasized the importance of this milestone, highlighting the growing need for innovative treatments in the expanding dementia market.

Nexalin Technology announced the regulatory approval of its Gen-2, 15 mA neurostimulation device by the Brazilian Health Regulatory Agency (Anvisa) on June 13, 2024. This marks Nexalin's second regulatory approval outside China this year. Brazil, the ninth largest economy globally with over 215 million people, includes more than 35 million individuals suffering from mental health disorders. CEO Mark White highlighted the strategic importance of this approval, positioning it as a gateway to broader South American markets. Nexalin is in advanced talks with a key distributor in Brazil, promising more updates soon.

Nexalin Technology (Nasdaq: NXL; NXLIW) announced its participation in the Spring MicroCap Rodeo Conference on June 6, 2024, in New York City. CEO Mark White will present at 10:00 a.m. Eastern Time, with the presentation available via live webcast. Nexalin's management will also hold one-on-one meetings with approved investors throughout the event. Further details and registration for the conference can be found on the MicroCap Rodeo website.

Nexalin Technology announced that the FDA has provided feedback and reached consensus on the design for clinical studies of its Gen-3 HALO Clarity™ headset. These studies, focusing on anxiety and insomnia, are set to commence in Q3 2024. Each study will involve 75 patients receiving active treatment and 75 receiving sham treatment. The HALO device uses Deep Intracranial Frequency Stimulation (DIFS™) to potentially offer an effective alternative to pharmacological treatments. Following the studies, Nexalin plans to submit a De Novo request to the FDA, seeking a new marketing pathway for the device.

The production of over 500 units of the HALO headset has started to support these studies. Nexalin aims to manage the patient-physician relationship through a virtual clinic model, allowing at-home use with remote monitoring by a physician. CEO Mark White sees this as a significant step towards revolutionizing mental health treatment standards.

Nexalin Technology announced that its new division, Nexalin America, has joined the National Traumatic Brain Injury (TBI) Registry Coalition. This Coalition comprises private sector and non-profit organizations dedicated to advancing research, raising awareness, and supporting clinical trials for TBI, affecting millions annually. Members include the NFL Players Association, Spaulding Rehabilitation at Mass General, United States Brain Injury Alliance, Abbott, and American Academy of Neurology. Nexalin America will leverage its neurostimulation technology expertise to contribute to developing a national TBI registry. CEO Mark White highlighted this partnership as a significant step towards combating brain injuries through advanced technology and collaborative research.