Nexalin Technology (NASDAQ: NXL) stock surged during intraday trading Monday after the company secured a new patent for a deep-brain stimulation device.
Nexalin Technology recently announced that it has secured a new patent from the United States Patent and Trademark Office (USPTO). The U.S. Patent No. 12,011,591 covers the company’s proprietary non-invasive Deep Intracranial Frequency Stimulation (DIFS®) medical device. This device uses a proprietary frequency-based waveform to deliver deep brain stimulation in a pain-free and undetectable manner, specifically targeting Alzheimer’s and dementia-related brain diseases.
Mark White, CEO of Nexalin Technology, emphasized the significance of this patent, stating,
“The award of this patent marks another major milestone for the Company, as we expand our intellectual property to include the treatment of Alzheimer’s and dementia.”
He highlighted the growing market opportunity in dementia treatment, citing projections from Grandview Research indicating substantial market growth to exceed $28 billion by 2030.
White underscored the urgent need for innovative treatments, citing statistics from the World Health Organization indicating over 55 million people currently live with dementia, with millions of new cases diagnosed annually. He also noted significant government investments in Alzheimer’s and dementia research, reinforcing the demand for advancements like Nexalin’s neurostimulation technology.
Beyond Alzheimer’s and dementia, Nexalin’s DIFS® technology has demonstrated clinical benefits across various neurological disorders, including treatment-resistant depression, migraines, anxiety, insomnia, addiction, and PTSD. The new patent further validates the device’s potential to enhance standards of care in mental health treatments.
Nexalin Technology (NASDAQ: NXL) Stock Movement
On Monday, NXL stock soared 40.85%, closing at $2.31, marking a 156.89% increase for the week. The trading volume was 33,406,496 shares, significantly higher than the average daily volume of 2.53 million.
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