Sources inform "Globes" that senior executives from Brainsway Ltd. (TASE:BRIN) are currently in the US holding talks with potential distributors for its product. Last month, Brainsway obtained US Food and Drug Administration (FDA) approval to use the company's Deep TMS (transcranial magnetic stimulation) device for the treatment of depression in patients who fail to respond to medication during a depression episode.
The company is likely to sign a distribution agreement before it moves ahead with plans for a Nasdaq offering.
In the past the company's executives have hinted that their product's distributor will not be one of the big five healthcare companies but rather a company focusing on Brainsway's specific area of activity.
In recent days Brainsway's share price has risen sharply despite the absence of any formal announcements. The share price rose 25% in the past two sessions alone. The company announced today that VP marketing Amnon Gat has bought shares worth NIS 84.5 thousand.
Published by Globes [online], Israel business news - www.globes-online.com - on February 10, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013
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