Nexalin technology’s chief medical officer buys $4,050 in stock

David Owens, the Chief Medical (TASE:PMCN) Officer of Nexalin Technology , Inc. (NASDAQ:NXL), has purchased 1,500 shares of the company’s common stock, according to a recent SEC filing. The shares were acquired at a price of $2.70 each, totaling $4,050. The purchase comes as NXL stock has shown remarkable strength, with InvestingPro data showing a 634% return over the past year. Following this transaction, Owens now holds 153,793 shares in the company. Nexalin Technology is known for its work in the electromedical and electrotherapeutic apparatus sector. According to InvestingPro analysis, the company maintains strong liquidity with a current ratio of 16.39 and holds more cash than debt on its balance sheet. While currently trading above its Fair Value, InvestingPro subscribers have access to 8 additional key insights about NXL’s financial health and growth prospects.

In other recent news, Nexalin Technology, Inc. has regained compliance with Nasdaq’s minimum bid price requirement, a significant development as confirmed by the Nasdaq Stock Market. The company has also successfully met Nasdaq’s stockholders’ equity requirements following a public offering that raised approximately $5.25 million. CEO Mark White has emphasized the importance of these milestones in enhancing investor visibility and driving shareholder value.

Recent developments also include changes in the company’s leadership and strategic direction. At an annual stockholder meeting, shareholders elected five directors to the board, ratified Marcum LLP as the independent registered public accounting firm for the upcoming fiscal year, and approved an amendment to the 2023 Equity Incentive Plan. The company also announced the departure of Michael Nketiah, Senior Vice President of Clinical, Quality, & Regulatory Affairs.

In the realm of product development, Nexalin Technology has made substantial progress with its Gen-2 15 milliamp neurostimulation device. This next-generation device, which aims to provide relief for mental health issues, has recently been approved in Oman and China. These are the latest developments in Nexalin Technology’s ongoing operations.

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