DALLAS, Sept. 28, 2017 /PRNewswire/ -- Nexeon MedSystems, Inc. (OTC:QB NXNN) announced today that it has commenced "regular way" trading on the OTC Market (OTC:QB) under the symbol "NXNN". The Company is finalizing 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 target price, and awarded research funds from the National Institutes of Health.
The Company is finalizing 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.
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 diseases. Nexeon has developed and commercialized a neurostimulation system that can be utilized to treat a variety of neurological diseases.
Forward-Looking and Cautionary Statements: Statements in this press release that are not strictly historical may be "forward-looking" statements, which involve risks and uncertainties, and Nexeon undertakes no obligation to update any such statements to reflect later developments. These risks and uncertainties include Nexeon's ability to successfully complete on the terms and conditions contemplated, and the financial impact of, its strategic portfolio repositioning actions, as well as economic and currency conditions, market demand, pricing, protection of intellectual property, and competitive and technological factors, among others, as set forth in Nexeon's subsequent reports filed with the SEC.
SOURCE Nexeon Medsystems, Inc.