Guy Ezekiel, Brainway® CEO: “We Can Reach Break-Even by 2017. We Will Continue To Focus on Commercialization.”
The financial reports published a few days ago show continued growth in sales, which boosted the company’s stock by 18% in a single day. However, Brainsway’s stock is far from its peak in 2013 – over 6400 points.
Recently, there has been a significant change in the company. Dr. Guy Ezekiel replaced Uzi Sofer as Brainway’s CEO. “As I entered the company, I could see that it wasn’t focused. Its activities were distributed over various indications, with less emphasis on the commercial aspect. This is typical of Israeli companies that have a high level of expertise in R&D, but are weaker in marketing. Brainsway cannot focus on so many indications at present. It’s a tough call, but we want to focus on the commercial part. We won’t abandon the clinical or research facets, but we’ll be working somewhat slower in that area. Another move we made is working directly in the United States. We have also moved towards focusing our efforts to working directly in the United States. We’re expanding our activities there and recruiting people”.
Brainsway is not focused on only on depression therapy, and Ezekiel points to one of its strengths – OCD (Obsessive Compulsive Disorder). The company is currently holding a multi-center trial with 98 patients. The trial is expected to be completed in late 2016, and Brainsway intends to file for an FDA clearance in 2017.
Ezekiel: “I believe the company will achieve Break-Even very soon. I don’t want to issue any forecasts, but I’m confident we can reach break-even by 2017.”