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HOUSTON - Nexalin Technology, Inc. (NASDAQ:NXL; NXLIW), a micro-cap company with a market value of $25.3 million specializing in Deep Intracranial Frequency Stimulation (DIFS™), announced the commencement of a clinical trial for its Nexalin HALO™ device at the University of California, San Diego (UCSD), in partnership with the VA San Diego Healthcare System. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 7.25, indicating robust short-term financial stability. This week, the first group of patients began treatments aimed at evaluating the efficacy of Nexalin’s DIFS™ technology for conditions such as mild traumatic brain injury (mTBI) and post-traumatic stress disorder (PTSD).
The study, which has transitioned from patient recruitment to active participation, is especially focused on providing new treatment options for military personnel and civilians who have limited access to effective therapies for these mental health disorders. While the company’s revenue remains modest at $170,000 for the last twelve months, it has achieved impressive revenue growth of 52.4%. InvestingPro analysis reveals 10+ additional insights about Nexalin’s financial health and market position. Mark White, CEO of Nexalin, expressed optimism about the trial, emphasizing the potential of the Nexalin HALO™ headset to offer a transformative, drug-free approach to treating mental health issues.
The collaboration with UCSD and the San Diego VA is part of Nexalin’s effort to validate the safety and impact of its technology. The clinical trial’s results are expected to play a crucial role in the company’s regulatory and commercial strategy, aiming for further approvals and expanded access to its neurostimulation products.
Nexalin’s HALO™ Clarity devices have been recently integrated into UCSD facilities, providing non-invasive neurostimulation therapy with the added benefit of AI-integrated remote monitoring. The company’s Electronic Data Capture (EDC) platform and Patient Monitoring System (PMS) allow for real-time tracking of patient adherence and treatment efficacy.
While the HALO™ Clarity device is still under evaluation and not yet approved for marketing or commercial sale in the U.S., Nexalin’s products are designed to penetrate deep brain structures associated with mental health disorders without adverse side effects. The company has previously obtained approval for its Gen-2 15 milliamp neurostimulation device in countries such as China, Brazil, and Oman.
This report is based on a press release statement from Nexalin Technology, Inc. The company’s forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected. The stock has shown significant volatility, with a beta of 4.39 and a dramatic 204.5% price increase over the past six months, despite recent pullbacks. Readers are cautioned that these forward-looking statements are only predictions and may differ from actual future events or results. For comprehensive financial analysis and real-time updates, consider accessing additional metrics through InvestingPro.
In other recent news, Nexalin Technology, Inc. has achieved a significant milestone with the effectiveness of its Form S-1 Registration Statement, as reported in a filing with the Securities and Exchange Commission. This development follows the company’s 2022 initial public offering and pertains to up to 2,798,613 shares of its common stock. The statement includes 347,250 shares potentially issuable upon the exercise of warrants granted to Maxim Partners, LLC as part of compensation for services during the IPO. Additionally, up to 2,315,000 shares are covered, issuable upon the exercise of warrants distributed to investors who purchased units in the 2022 public offering. These units included both a share of common stock and a common stock purchase warrant. The Registration Statement also covers 136,363 shares of common stock issued to Maxim Partners under a renewed engagement agreement. Investors holding these warrants have the option to exercise them at a price of $4.15 per share. This move underscores Nexalin Technology’s commitment to transparency and regulatory compliance, as noted by the company’s CEO, Mark White.
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