David Owens, the Chief Medical (TASE:PMCN) Officer of Nexalin Technology , Inc. (NASDAQ:NXL), has reported the purchase of common stock valued at a total of $7,700. The timing is notable as the stock has experienced significant volatility, dropping nearly 18% in the past week despite an impressive 607% gain over the last year. The transactions took place on January 13 and January 23, with Owens acquiring a total of 3,000 shares. The shares were bought at prices ranging from $2.50 to $2.70 per share, below the current trading price of $2.72. Following these acquisitions, Owens holds 152,293 shares directly in the $33.4 million market cap company. These transactions highlight Owens' ongoing investment in the company, which maintains a FAIR financial health score according to InvestingPro, which offers 11 additional investment insights for this stock.
In other recent news, Nexalin Technology, Inc. has regained compliance with Nasdaq's minimum bid price requirement, a significant milestone according to Mark White, the company's CEO. This development enhances investor visibility as Nexalin continues its clinical research and global regulatory approvals. The company also successfully met Nasdaq's stockholders’ equity requirements following a public offering that raised approximately $5.25 million.
In board-related news, five directors were elected at the recent annual stockholder meeting, which also saw the ratification of Marcum LLP as the independent registered public accounting firm for the upcoming fiscal year. However, the company announced the departure of Michael Nketiah, Senior Vice President of Clinical, Quality, & Regulatory Affairs.
In the realm of product development, Nexalin has been making strides with its Gen-2 15 milliamp neurostimulation device, which has recently received approval in Oman and China. These are the latest developments in Nexalin Technology's ongoing operations. The company has not committed to updating these forward-looking statements beyond the date of the press release, except as legally required.
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