SeeThru Equity Initiates Coverage on Nexeon with a Price Target of $2.40

[fa icon="calendar"] 28 August, 2017 - by : Ajay Tandon of SeeThruEquity

Ajay Tandon of SeeThruEquity

SeeThruEquity, a leading independent equity research and corporate access firm focused on small-cap and micro-cap public companies, today announced it has initiated coverage on Nexeon MedSystems, Inc. (NXNN) with a 12-month price target of US $2.40.

The report is available here: Nexeon Initiation Report (or PDF version)

Based in Dallas, TX, Nexeon is a development stage medical device company focused on innovative bioelectronics, which combine telecommunications technology and biotechnology. The company's novel solutions are designed to improve the quality of life for patients suffering from debilitating neurological disease. Nexeon's flagship product is the Nexeon Neurostimulation System (NNS), a neurostimulation and recording platform for deep brain stimulation (DBS). NNS is an adaptable bioelectronics solution, which includes a suite of advanced implantable medical devices, supporting devices, and patient management software. NNS is supported by an expansive portfolio of issued and pending patents and approximately $40mn of investment, according to Nexeon investor materials.


Highlights from the report include:

Several key events on the horizon

We see several potential catalysts ahead for Nexeon. The company has previously received a CE Mark for NNS and expects to initiate commercial activities in 2Q18 following a re-issued CE Mark. Additionally, Nexeon is in the process raising capital in the form of issuing $3mn private placement with price protection and 50% warrant coverage. Furthermore, Nexeon management has indicated that the company has access to nearly $3.9mn in non-dilutive funding in the form of subsidies. Finally, we are intrigued by an announcement by the company that it has entered into the second phase of a supply and manufacturing agreement with a significant bioelectronics company to provide Nexeon's neurostimulation platform for pre-clinical and clinical research. Management is optimistic that the r elationship has the potential to become a source of capital either through licensing or research and development funding in the future.

Nexeon's DBS platform initially targeting Parkinson's

Nexeon's lead product is NNS, a neurostimulation and recording platform for deep brain stimulation (DBS). NNS is an adaptable bioelectronics solution, which includes a suite of implantable medical devices, external supporting devices and patient management software. Nexeon believes NNS has the potential to be a significant advancement in DBS, with several notable advantages versus existing FDA-approved DBS devices. NNS will initially be targeted for the management of symptoms associated with movement disorders, such as Parkinson's disease, which Radiant Insights estimates may become a $1.59 billion market by 2020E. Nexeon is also investigating the use of NNS for future indications, which may include epilepsy, asthma, cognition and obesity, among others.

Initiate coverage with a price target of $2.40

We initiate coverage of Nexeon with a price target of $2.40. Nexeon represents a speculative company in the Medical Device sector with high growth potential and an experienced management team as it targets the multi-billion dollar bioelectronics market. We see several key events ahead for Nexeon as the company moves to transition from a development stage company into commercialization with the European launch of its flagship NNS platform for Parkinson's disease.

Please review important disclosures on our website at

About Nexeon Medsystems, Inc.

Nexeon Medsystems, Inc. is a global medical device company focused on providing innovative neurostimulation products that improve the quality of life of patients suffering from debilitating neurological disease. Nexeon has developed and commercialized a neurostimulation system that can be utilized to treat a variety of neurological diseases.

About SeeThruEquity

Since its founding in 2011, SeeThruEquity has been committed to its core mission: providing impactful, high quality research on underfollowed smallcap and microcap equities. SeeThruEquity has pioneered an innovative business model for equity research that is not paid for and is unbiased. SeeThruEquity is the host of acclaimed investor conferences that are the ultimate event for publicly traded companies with market capitalizations less than $1 billion.

SeeThruEquity is approved to contribute its research reports and estimates to Thomson One Analytics (First Call), the leading estimates platform on Wall Street, as well as Capital IQ and FactSet. SeeThruEquity maintains one of the industry's most extensive databases of opt-in institutional and high net worth investors. The firm is headquartered in Midtown Manhattan in New York City.

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