Mont-Saint-Guibert, Belgium-based Nyxoah’s offering includes shares sold in a private offering. It intends to offer more than 55.2 million ordinary shares at $1.72 apiece. The company also granted underwriters a 30-day option to purchase up to nearly 8.3 million additional shares at the offering price.
The maker of implantable nerve stimulation technology for treating obstructive sleep apnea (OSA) expects the offering to close on or about June 9.
Nyxoah develops the Genio hypoglossal nerve stimulation implant for treating OSA. Genio utilizes an implanted electrode around the hypoglossal nerve. It stimulates the tongue and keeping the airway open to treat obstructive sleep apnea (OSA). Nyxoah directly competes with Inspire Medical in the sleep respiratory market with their CPAP alternatives.
Genio received FDA in August 2025, pitting it directly against the Inspire devices in the U.S. market. Unlike Inspire’s system, it doesn’t require leads, with a wearable providing power for the electrode through the skin. The two companies remain embroiled in a patent spat over their technologies as well. Nyxoah further bolstered its U.S. commercial efforts last fall with Medicare reimbursement as well.
Yesterday, Nyxoah said it began a CEO transition as it looks to take the next steps toward broader U.S. commercialization. A search for a new leader is ongoing.
Today, the company said plans to use the net proceeds to expand its commercial operations in the U.S. It also intends to further finance R&D activities related to Genio upgrades. That could include re-designing its products for manufacturability and cost reduction initiatives. It also extends to building a new pipeline of technologies and exploring potential collaboration opportunities.
Other uses for proceeds include advancing Genio commercialization in other markets outside the U.S., and for general corporate purposes.
