Nexeon MedSystems, Inc. has commenced “regular way” trading on the OTC Market under the symbol “NXNN”. The company is finalising development of its deep brain stimulation system for the treatment of symptoms associated with Parkinson’s disease.
“I’m proud of our management team for implementing and delivering on innovative financing strategies in much the same fashion as our engineers do,” said Nexeon CEO Will Rosellini. “Our next step is to uplist to a major exchange, we hope to accomplish this as soon as possible.”
In June 2017, the Securities and Exchange Committee (SEC) declared effective the Company’s S-1 Registration Statement. The S-1 registered 5,332,496 shares of the Company’s common stock. Nexeon has previously reported it has just over 26M issued and outstanding shares.
Trading has commenced after recent announcements that include acquisition of profitable Belgian manufacturer, published analyst research pointing to $2.40 (€2.06) target price, and awarded research funds from the National Institutes of Health.
The Company is finalising development of its deep brain stimulation system for the treatment of symptoms associated with Parkinson’s disease. A former generation of the technology received a CE Mark, but Nexeon has since improved and added features to the system based on inputs from key opinion leaders in preparation for a commercial launch in Europe in 2018.
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