HOUSTON - Nexalin Technology, Inc. (NASDAQ:NXL; NXLIW), a company specializing in non-invasive neurostimulation technology for mental health, announced on Monday that it has regained compliance with the Nasdaq's minimum bid price requirement. This development follows a notification from the Nasdaq Stock Market on April 23, 2024, confirming that Nexalin meets the Nasdaq Rule 5550(a)(2) standards.
CEO Mark White expressed his commitment to advancing the treatment of mental health and neurological conditions with Nexalin's drug-free technology. White underscored the importance of the Nasdaq listing for the company's visibility in the investment community, especially in light of positive developments and expected milestones. He thanked shareholders for their continued support and belief in Nexalin's vision and capabilities.
Nexalin's approach to mental health treatment involves bioelectronic medical technology, which the company believes can effectively reach deep structures in the mid-brain associated with mental health disorders. The company's products, including the recently approved Gen-2 15 milliamp neurostimulation device in Oman and China, are designed to be non-invasive and undetectable to the human body, aiming to provide relief without adverse side effects.
This news article is based on a press release statement from Nexalin Technology, Inc.
InvestingPro Insights
Nexalin Technology, Inc. (NXL) has shown a remarkable turnaround as evidenced by its recent compliance with Nasdaq's minimum bid price requirement. An InvestingPro analysis reveals several key metrics that could be of interest to investors monitoring the company's progress. With a market capitalization of $10.56 million, Nexalin operates on a relatively small scale in the biotechnology and medical research industry. Despite a challenging financial performance, with a negative P/E ratio of -3.80 and a substantial revenue decline of -91.62% over the last twelve months as of Q4 2023, the company's stock has experienced significant price volatility and growth in recent months. The one-month and three-month price total returns as of April 2024 are 184.0% and 334.25%, respectively, reflecting a strong market response.
Investors looking at Nexalin's balance sheet will find reassurance in the fact that the company holds more cash than debt, as noted by an InvestingPro Tip. Additionally, Nexalin's liquid assets exceed its short-term obligations, suggesting a solid liquidity position. However, it is worth noting that the company has not been profitable over the last twelve months, and it trades at a high revenue valuation multiple. These factors, coupled with the absence of dividend payments to shareholders, indicate that Nexalin's investment profile may be more suited to growth-focused investors rather than those seeking income.
For investors desiring a deeper dive into Nexalin's financials and market potential, there are additional InvestingPro Tips available. These include insights on the company's high shareholder yield and its performance over various time frames, such as the last year and the last six months. To access these valuable tips and more, visit the Nexalin page on InvestingPro at https://www.investing.com/pro/NXL. Moreover, by using the promo code PRONEWS24, investors can receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a total of 11 InvestingPro Tips to guide their investment decisions with Nexalin Technology, Inc.
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