BRSYF - Brainsway: Still Undervalued

• FDA clearance for smoking cessation moves Brainsway towards a portfolio of neurological disorder treatments and extends the company’s competitive advantage.
• The publication of positive real-world results for treating OCD adds support to the case for insurance reimbursement, although cost effectiveness is still a potential barrier.
• Rapid COVID vaccination plans for Israel and the U.S. should help Brainsway to normalize business activities by the second half of 2021.
• A growing installed base, multiple FDA-cleared indications and the potential for international expansion are all supportive of revenue growth and a transition to profitability.

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