Elon Musk’s Neuralink is said to be valued at $5B now, compared to a $2B valuation two years ago, as bullish investors bought into the brain implant company. The stock trades were carried out by Neuralink employees and early backers.
Neuralink secured FDA approval to launch its first ‘in-human clinical study’ last month. Soon after, its shares were marketed privately to investors at a $7B valuation, equivalent to $55 per share, Reuters reported.
The maximum amount sought for Neuralink shares marketed at a $7B valuation was $500K. The company last raised $205M in 2021, with an ~$2B valuation.
The implant could potentially treat a range of medical conditions such as paralysis, blindness, and depression. However, these commercial uses seem far-sighted.
Kip Ludwig, former program director for neural engineering at the U.S. National Institutes of Health, told Reuters that he “optimistically” expects Neuralink to take at least 10 more years to commercialize its brain implant.