Nexalin Technology CEO Provides Letter to Shareholders

Reports on growing clinical data supporting its neurostimulation technology and progress advancing its new Gen-3 HALO Clarity Virtual Clinic model

HOUSTON, April 10, 2024 (GLOBE NEWSWIRE) -- Nexalin Technology, Inc. (the “Company” or “Nexalin”) (Nasdaq: NXL; NXLIW) today provided the following letter to shareholders from the Company’s CEO, Mark White, including updates regarding the growing clinical data supporting its non-invasive, frequency-based deep brain stimulation device, as well as, progress on its new Gen-3 HALO Clarity & Virtual Clinic model:

To our valued shareholders,

I want to take this opportunity to express my sincere gratitude for your continued trust and investment in our mission. In 2023, we achieved significant progress, and we are poised for even greater achievements in 2024 to support our goal of improving mental healthcare outcomes among patients across a wide array of indications. We believe our technology holds tremendous potential, including treatment applications for large and underserved markets within the fields of insomnia, depression, and anxiety. We are also investigating a more expansive treatment for other mental health conditions such as, addiction, substance use disorder, Alzheimer’s, traumatic brain injury and post-traumatic stress disorder (PTSD). The broad potential of our technology is especially noteworthy given the growing number of patients seeking more effective non-pharmacological treatment options.

Positive Clinical Results

We've hit the ground running in 2024 with a series of favorable developments that solidify Nexalin's position as an innovator in the field. We recently announced positive results from a clinical study conducted at the University of California, San Diego (UCSD). The data from this study demonstrated that our Gen-2 tACS reduced post-concussive symptoms and PTSD symptoms among the sample of military veterans suffering from mild traumatic brain injury (mTBI). We view this as a significant breakthrough, as mTBI is a prevalent and often debilitating condition with limited treatment options. This market with respect to mTBI alone was valued at approximately $3.3 billion in 2022 and is projected to reach over $7.2 billion in 2032.