Nyxoah SA Stock Rises Pre-Market After CMS Raises Reimbursement For Sleep Disorder Therapy

• Under the new rule, Hospital Outpatient Department (HOPD) reimbursement for Nyxoah’s Genio hypoglossal nerve stimulation implants will increase to approximately $45,000 starting in 2026.
• According to Nyxoah, the Genio procedure is well-suited for the ASC environment, and the new rules create new opportunities for site-of-service diversification as well.

Shares of Nyxoah SA (NYXH) jumped 7% in the pre-market session on Wednesday after the company said that its Genio Therapy would benefit from the new medicare reimbursement criteria for CY2026.

The U.S. Centers for Medicare & Medicaid Services (CMS) finalized its CY2026 medicare reimbursement rules on Friday.

How Will It Aid Nyxoah?

Under the new rule, Hospital Outpatient Department (HOPD) reimbursement for Nyxoah’s Genio hypoglossal nerve stimulation implants for the treatment of Obstructive Sleep Apnea will increase to approximately $45,000 starting in 2026, a 48% rise compared to 2025, the company said. Ambulatory Surgery Centers (ASC) facility reimbursement, meanwhile, will increase to $42,373, reflecting a 58% increase compared to 2025.

Nyxoah expects the stronger reimbursement framework to support broader adoption, increase procedural throughput, and expand across Medicare-heavy institutions. Further, the procedure is well-suited for the ASC environment, and the change in rules creates new opportunities for therapy expansion and site-of-service diversification, the company added.

Others To Benefit From New Rules

The new rules apply to Nyxoah’s peers, too. Earlier this week, Stifel analyst Jonathan Block upgraded Inspire Medical Systems (INSP) to ‘Buy’ from ‘Hold’ while also hiking the price target to $110, up from $100.

Inspire Medical makes the Inspire V implant to treat obstructive sleep apnea. It is installed in an approximate 60-minute outpatient procedure. According to the Stifel analyst, the company's headwinds are easing following CMS's positive reimbursement revision on Friday.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around NYXH fell from ‘bullish’ to ‘neutral’ territory over the past 24 hours while message volume rose from ‘low’ to ‘high’ levels.

NYXH stock fell 43% this year and by about 44% over the past 12 months. 

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