Redeye initiates coverage of Nexstim, a Finnish medtech taking a non-invasive, drug-free approach to depression. It offers a ‘navigation’ tool that improves treatment accuracy in the established therapy field of Transcranial Magnetic Stimulation (TMS). With regulatory approvals and established KOL network as a catalyst, we see long-term potential as the firm continues to commercialize its TMS therapy and finds high-margin niches.