New York, March 07, 2024 - PRISM MarketView - Shares in Nexalin Technology (Nasdaq: NXL) rose almost 50% in intraday trading on Wednesday after the company announced positive topline results from its clinical study evaluating its Gen-2 tACS device (tACS) for the treatment of chronic insomnia. Insomnia is one of the most common sleep disorders and affects approximately 6%–10% of adults worldwide.
“The results of this latest study reinforce the growing body of clinical evidence supporting the significant impact of our neurostimulation device on improving mental healthcare outcomes among patients across a wide array of indications. We remain committed to our mission of helping address the global mental health epidemic and look forward to further expanding our innovative neurostimulation devices into new indications.”
Mark White, CEO of Nexalin Technology
Highlights
The randomized, double-blind, placebo-controlled, parallel-group, multicenter study enrolled 120 patients in two prespecified age subgroups, ranging from 22 to 65 years old.
The study demonstrated that participants aged above 50 experienced comparatively more significant benefits from tACS, including enhanced sleep quality, efficiency and overall insomnia reduction relative to younger participants.
The study’s results were published in the Journal of Psychiatric Research.
Chronic insomnia is characterized by difficulty in initiating or maintaining sleep, and early morning awakening, accompanied by daytime consequences such as fatigue, attention deficits, and emotional instability.
The global insomnia market is valued at over $5 billion.
About Nexalin Technology, Inc.
Nexalin designs and develops innovative neurostimulation products to uniquely and effectively help combat the ongoing global mental health epidemic. All of Nexalin’s products are non-invasive and undetectable to the human body and are intended to provide relief to those afflicted with mental health issues without adverse side effects. Nexalin utilizes bioelectronic medical technology to treat mental health issues without the need for drugs or psychotherapy. Nexalin believes the 15 milliamp medical device can penetrate structures deep in the mid-brain that are associated with mental health disorders. These deeper penetrating waveforms are believed to generate enhanced patient response without any adverse side effects. The Nexalin tACS device was approved in China by the National Medical Products Administration (NMPA) for the treatment of insomnia and depression. The tACS devise currently is distributed in the Asia Pacific region through a joint venture with Wider Come Limited, and further clinical research is ongoing. Additional information about the Company is available at: https://nexalin.com/.
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