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Summary of Highlights
In the first quarter of 2018, the Company reported the following major developments:
During the quarter, the company recorded revenues of $3.6 million, of which 58% stemmed from rental agreements for its devices and the remainder from sales of devices.
The company received FDA approval to market the company's system in the US with the new stimulator.
In view of all these considerations, we maintain our previous valuation of the company's value of $129.5 million / NIS 453 million; target price of NIS 26.3 – NIS 28.6, and on average NIS 27.5.
About the company - Brainsway Ltd. (Brainsway or "the Company") is an Israeli medical device firm focused on the development and commercialization of an H-coil helmet device for Deep Transcranial Magnetic Stimulation (dTMS). dTMS enables non-invasive activation of deep brain structures that can cover a broad range of brain disorders. The company has FDA market approval for Major Depressive Disorder, and wide reimbursement coverage for this indication. The company has recently received positive results in Obsessive Compulsive Disorder (OCD) patients, and will apply for market approval in the US for this indication. Approximately 15,000 patients were treated to date with Brainsway's device. please click here (https://ww2.frost.com/research/equity-research/)
About Frost & Sullivan
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Contact: Kristi Cekani Corporate Communications - Frost & Sullivan, EuropeP: +39.02.4851.6133E: firstname.lastname@example.org http://www.frost.com
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