Major Estimate Revision • May 19
Consensus EPS estimates fall by 60% The consensus outlook for fiscal year 2026 has been updated. 2026 expected loss increased from -US$0.55 to -US$0.88 per share. Revenue forecast of US$10.2m unchanged since last update. Medical Equipment industry in the US expected to see average net income growth of 13% next year. Consensus price target of US$11.00 unchanged from last update. Share price fell 9.1% to US$7.41 over the past week. Reported Earnings • May 13
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: US$0.18 loss per share (improved from US$0.33 loss in 1Q 2025). Revenue: US$1.61m (up 80% from 1Q 2025). Net loss: US$1.95m (loss narrowed 22% from 1Q 2025). Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 5.3%. Revenue is forecast to grow 61% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Medical Equipment industry in the US. Announcement • May 05
NeurAxis, Inc. to Report Q1, 2026 Results on May 12, 2026 NeurAxis, Inc. announced that they will report Q1, 2026 results Pre-Market on May 12, 2026 Announcement • Apr 29
NeurAxis, Inc., Annual General Meeting, Jun 10, 2026 NeurAxis, Inc., Annual General Meeting, Jun 10, 2026. Location: 11611 n., meridian st, suite 330, carmel, in 46032, United States Major Estimate Revision • Mar 26
Consensus revenue estimates increase by 12% The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from US$8.50m to US$9.55m. EPS estimate unchanged at -US$0.54. Medical Equipment industry in the US expected to see average net income growth of 15% next year. Consensus price target up from US$7.00 to US$11.00. Share price fell 3.2% to US$6.93 over the past week. Breakeven Date Change • Mar 19
Forecast to breakeven in 2028 The analyst covering NeurAxis expects the company to break even for the first time. New forecast suggests losses will reduce by 7.5% per year to 2027. The company is expected to make a profit of US$5.10m in 2028. Average annual earnings growth of 96% is required to achieve expected profit on schedule. Announcement • Mar 12
NeurAxis, Inc. to Report Q4, 2025 Results on Mar 19, 2026 NeurAxis, Inc. announced that they will report Q4, 2025 results Pre-Market on Mar 19, 2026 Announcement • Jan 08
NeurAxis, Inc. Achieves Major Milestone with AMA Category I CPT®? Code Now in Effect, Establishing A Permanent Reimbursement Pathway NeurAxis, Inc. announced that the Category I CPT code for Percutaneous Electrical Nerve Field Stimulation (PENFS) is now in effect, completing a successful commercial milestone for the Company. The assignment of the Category I CPT code is one of the most significant breakthroughs in efforts towards widespread adoption of IB-Stim®?. This establishes a permanent, nationally recognized coding and billing pathway for NeurAxis' PENFS therapy, reflecting broad clinical acceptance and meeting the American Medical Association's (AMA) criteria for widespread utilization, clinical efficacy, and established standards of care. Category I CPT codes are routinely used by Medicare, Medicaid, and commercial insurers as a basis for coverage and payment determinations. NeurAxis believes the code's implementation will expand patient access, reinforce the durability of its reimbursement model, and enhance the predictability of its commercial trajectory. New Risk • Nov 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 53% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$6.3m free cash flow). Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$3.5m net loss in 2 years). Share price has been volatile over the past 3 months (11% average weekly change). Revenue is less than US$5m (US$3.4m revenue). Market cap is less than US$100m (US$24.9m market cap). Price Target Changed • Nov 14
Price target decreased by 20% to US$5.00 Down from US$6.25, the current price target is an average from 2 analysts. New target price is 113% above last closing price of US$2.35. Stock is down 28% over the past year. The company is forecast to post a net loss per share of US$0.91 next year compared to a net loss per share of US$1.22 last year. Announcement • Nov 13
NeurAxis, Inc. Announces New Medical Policy Coverage for Percutaneous Electrical Nerve Field Stimulation, Representing Approximately 566,000 Total Covered Lives, in Michigan NeurAxis, Inc. announced new medical policy coverage for Percutaneous Electrical Nerve Field Stimulation (PENFS), representing approximately 566,000 total covered lives, in Michigan. With this addition, approximately 82% of commercially insured pediatric beneficiaries in Michigan now have access to PENFS under medical policy. This expansion increases NeurAxis' total national coverage to roughly 55 million total lives, with additional payer decisions from major insurers expected in the coming months. NeurAxis' proprietary PENFS technology, IB-Stim, is FDA-cleared for the treatment of functional abdominal pain associated with irritable bowel syndrome (IBS) and Functional Dyspepsia (nausea symptoms) in patients 8 years and older. IB-Stim is a non-invasive neuromodulation device that gently stimulates cranial nerve bundles in theear to help regulate pain signaling between the gut and the brain. Currently, no FDA-approved drug therapies exist for pediatric patients with abdominal pain-related disorders of gut-brain interaction (DGBIs), a significant unmet medical need. In the absence of approved options, off-label prescription drugs are often used, despite limited efficacy data and potential safety concerns--underscoring IB-Stim's unique position as the only FDA-cleared therapy specifically designed for this large and underserved pain related patient population. Reported Earnings • Nov 12
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: US$0.23 loss per share. Revenue: US$811.4k (up 22% from 3Q 2024). Net loss: US$2.32m (loss widened 29% from 3Q 2024). Revenue missed analyst estimates by 19%. Earnings per share (EPS) also missed analyst estimates by 20%. Revenue is forecast to grow 72% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Medical Equipment industry in the US. Announcement • Nov 04
NeurAxis, Inc. to Report Q3, 2025 Results on Nov 11, 2025 NeurAxis, Inc. announced that they will report Q3, 2025 results Pre-Market on Nov 11, 2025 Announcement • Oct 24
NeurAxis Receives First Ever FDA Clearance for the Treatment of Pain in Functional Dyspepsia with Associated Nausea Symptoms in the Adult Patient Population NeurAxis, Inc. announced that it has received FDA 510(k) clearance for its proprietary percutaneous electrical nerve field stimulation (PENFS) technology for the treatment of functional abdominal pain (FAP) associated with functional dyspepsia (FD), and FD related nausea symptoms, in patients aged 8 years and older. The FDA reviewed the clinical literature supporting the use of NeurAxis' PENFS technology, including randomized controlled trials and real-world evidence demonstrating the device's safety and effectiveness in pediatric patients and individuals up to 21 years of age. Based on this comprehensive review, the FDA extrapolated the data to adults, supporting the use of PENFS in patients aged 8 years and years. This expanded indication marks a historic milestone, the first FDA clearance or approval for a treatment specifically addressing functional dyspepsia in adults. NeurAxis' PenFS technology is a non-surgical device that sends gentle electrical impulses into cranial nerve batteries in the ear. There are currently no FDA-approved drug therapies for children with abdominal pain-related disorders of the gut-brain interaction (DGBIs) and no approved drug therapies for adults for pain with functional dyspepsia. Pharmacologic treatments that use drugs off-label can often have serious side effects, and most lack scientific evidence of efficacy. Announcement • Aug 30
NeurAxis, Inc. has filed a Follow-on Equity Offering in the amount of $3.3 million. NeurAxis, Inc. has filed a Follow-on Equity Offering in the amount of $3.3 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Reported Earnings • Aug 13
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: US$0.22 loss per share (improved from US$0.42 loss in 2Q 2024). Revenue: US$894.1k (up 46% from 2Q 2024). Net loss: US$1.90m (loss narrowed 35% from 2Q 2024). Revenue missed analyst estimates by 9.1%. Earnings per share (EPS) also missed analyst estimates by 22%. Revenue is forecast to grow 65% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Medical Equipment industry in the US. Announcement • Aug 05
NeurAxis, Inc. to Report Q2, 2025 Results on Aug 12, 2025 NeurAxis, Inc. announced that they will report Q2, 2025 results Pre-Market on Aug 12, 2025 Announcement • Jun 10
Neuraxis, Inc. Secures Key Academic Society Guidelines Recommendation for Treatment of Functional Abdominal Pain (Fap) in Ibs NeurAxis, Inc. announced that its proprietary Percutaneous Electrical Nerve Field Stimulation (PENFS) technology has been officially incorporated into newly released clinical practice guidelines issued by the leading pediatric academic society for the treatment of Functional Abdominal Pain (FAP) in Irritable Bowel Syndrome (IBS). This inclusion represents a major catalyst for NeurAxis, unlocking the potential for large-scale insurance coverage for its product, IB-Stim, and setting the stage for accelerated growth through evidence-based recommendations. This rigorous, evidence-based approach that incorporates PENFS as an important treatment option for children elevates NeurAxis's profile within the healthcare industry and supports wider market adoption of IB-Stim. Abdominal pain in IBS affects millions globally, creating a multi-billion-dollar market opportunity with limited effective treatment options. IB-Stim is the only pediatric treatment option that the FDA has cleared for FAP in IBS and abdominal pain in functional dyspepsia (to include nausea symptoms) for patients 8-21 years old. IB-Stim delivers gentle electrical impulses to cranial nerve bundles in the ear, offering a safe, non-invasive alternative to drug therapies often used off-label and many of which are not suggested in the practice guidelines from NASPGHAN /ESPGHAN. New Risk • May 23
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 32% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (26% average weekly change). Earnings have declined by 23% per year over the past 5 years. Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Minor Risks Revenue is less than US$5m (US$2.9m revenue). Market cap is less than US$100m (US$26.5m market cap). Announcement • May 23
NeurAxis, Inc. has completed a Follow-on Equity Offering in the amount of $4.999998 million. NeurAxis, Inc. has completed a Follow-on Equity Offering in the amount of $4.999998 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,538,461
Price\Range: $3.25
Discount Per Security: $0.2275
Transaction Features: Registered Direct Offering Announcement • May 21
NeurAxis, Inc. has filed a Follow-on Equity Offering in the amount of $4.999998 million. NeurAxis, Inc. has filed a Follow-on Equity Offering in the amount of $4.999998 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,538,461
Price\Range: $3.25
Discount Per Security: $0.2275
Transaction Features: Registered Direct Offering Reported Earnings • May 13
First quarter 2025 earnings released: US$0.33 loss per share (vs US$0.32 loss in 1Q 2024) First quarter 2025 results: US$0.33 loss per share (further deteriorated from US$0.32 loss in 1Q 2024). Revenue: US$895.7k (up 39% from 1Q 2024). Net loss: US$2.49m (loss widened 18% from 1Q 2024). Revenue is forecast to grow 59% p.a. on average during the next 2 years, compared to a 8.2% growth forecast for the Medical Equipment industry in the US. Announcement • May 05
NeurAxis, Inc. to Report Q1, 2025 Results on May 12, 2025 NeurAxis, Inc. announced that they will report Q1, 2025 results Pre-Market on May 12, 2025 New Risk • Apr 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$6.1m free cash flow). Earnings have declined by 28% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Revenue is less than US$5m (US$2.7m revenue). Market cap is less than US$100m (US$14.1m market cap). Announcement • Apr 07
NeurAxis, Inc., Annual General Meeting, May 29, 2025 NeurAxis, Inc., Annual General Meeting, May 29, 2025. Location: at 11611 n., meridian st, suite 330, in 46032., carmel United States Reported Earnings • Mar 21
Full year 2024 earnings released: US$1.22 loss per share (vs US$4.50 loss in FY 2023) Full year 2024 results: US$1.22 loss per share (improved from US$4.50 loss in FY 2023). Revenue: US$2.69m (up 9.2% from FY 2023). Net loss: US$8.45m (loss narrowed 42% from FY 2023). Announcement • Mar 12
NeurAxis, Inc. to Report Q4, 2024 Results on Mar 20, 2025 NeurAxis, Inc. announced that they will report Q4, 2024 results Pre-Market on Mar 20, 2025 Announcement • Jan 22
NeurAxis, Inc. Announces New Medical Policy Coverage with a Prominent Insurer for over Five Million Lives Across Multiple States NeurAxis, Inc. announced medical policy coverage for Percutaneous Electrical Nerve Field Stimulation (PENFS), with a prominent insurer, with approximately 5.1 million members across 13 states. NeurAxis' PENFS technology, IB-Stim, is FDA-cleared for functional abdominal pain associated with irritable bowel syndrome (IBS) in adolescents 8-21 years old. IB-Stim is a non-surgical device that sends gentle electrical impulses into cranial nerve bundles in the ear. There are currently no FDA-approved drug therapies for children with abdominal pain-related disorders of the gut-brain interaction. Off label pharmacologic treatments can often have serious side effects, and most lack scientific evidence of efficacy. Announcement • Dec 11
NeurAxis Inc. Announces FDA 510(k) Clearance of Red for Testing and Evaluation of Patients with Chronic Constipation NeurAxis, Inc. announced the US Food and Drug Administration (FDA) granted a 510(k) clearance for RED (rectal Expulsion Device), allowing NeurAxis to commercially market the device for testing and evaluation of patients with chronic constipation due to pelvic floor dyssynergia and who are unlikely to improve with increased laxative use. NeurAxis will begin the process of commercially marketing RED and expects a soft launch in the first quarter of 2025 with a full launch expected in the second quarter of 2025. Management believes that providers will be able to bring this clinically beneficial technology to their practice immediately, given its clinical need and total addressable market of roughly $1.5 billion. There is currently a Category I CPT code assigned to the procedure and the procedure is covered by Medicare and most commercial insurance companies. RED can also be used as a qualitative test for rectal hypersensitivity. It will help identify patients who have an exaggerated urge to defecate, which also changes the treatment algorithm for patients with constipation. Announcement • Nov 28
Neuraxis, Inc. Appoints Dr. Aharon to the Board, Effective January 1, 2025 NeurAxis, Inc. appointed Dr. Aharon to the Board, effective January 1, 2025. Dr. Aharon has not yet been appointed to any of the Board’s committees. Dr. Aharon’s compensation for serving as a director has not yet been determined.
There are no family relationships between any of Dr. Aharon and any director or executive officer of the Company. New Risk • Nov 20
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 72% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$5.3m). Earnings have declined by 34% per year over the past 5 years. Shareholders have been substantially diluted in the past year (72% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Revenue is less than US$5m (US$2.5m revenue). Market cap is less than US$100m (US$29.5m market cap). Reported Earnings • Nov 14
Third quarter 2024 earnings released: US$0.26 loss per share (vs US$1.35 loss in 3Q 2023) Third quarter 2024 results: US$0.26 loss per share (improved from US$1.35 loss in 3Q 2023). Revenue: US$666.6k (up 40% from 3Q 2023). Net loss: US$1.76m (loss narrowed 64% from 3Q 2023). Reported Earnings • Aug 15
Second quarter 2024 earnings released: US$0.42 loss per share (vs US$1.21 loss in 2Q 2023) Second quarter 2024 results: US$0.42 loss per share. Revenue: US$611.5k (down 5.3% from 2Q 2023). Net loss: US$2.92m (loss widened 20% from 2Q 2023). Announcement • Aug 05
NeurAxis, Inc. to Report Q2, 2024 Results on Aug 09, 2024 NeurAxis, Inc. announced that they will report Q2, 2024 results Pre-Market on Aug 09, 2024 Announcement • Jun 24
NeurAxis, Inc., Annual General Meeting, Aug 15, 2024 NeurAxis, Inc., Annual General Meeting, Aug 15, 2024. Location: 11611 n. meridian st, suite 330, indiana 46032., carmel, United States Announcement • May 24
Neuraxis, Inc. Provides Earnings Guidance for Late 2024 and 2025 NeurAxis, Inc. provided earnings guidance for late 2024 and 2025 . Given the company's recent success with new payor coverage, the company expects revenue to increase in late 2024 and into 2025. Announcement • Apr 17
NeurAxis, Inc. Terminates Dan Clarence as Chief Operating Officer On April 10, 2024, the employment of Dan Clarence, Chief Operating Officer of NeurAxis, Inc., terminated effective immediately. Announcement • Apr 10
NeurAxis, Inc. Provides Revenue Guidance in Late 2024 and into 2025 NeurAxis, Inc. provided revenue guidance for late 2024 and 2025. Given the company's recent success with new payor coverage, the company expects the company's revenue to increase in late 2024 and into 2025. Announcement • Mar 27
NeurAxis, Inc. Announces IB-Stim Results from A Large, Pediatric, Multi-Center Registry NeurAxis, Inc. announced the results of a multicenter registry study on IB-Stim for pediatric disorders of gut-brain interaction (DGBI). IB-Stim is NeurAxis’ proprietary Percutaneous Electrical Nerve Field Stimulation (PENFS) technology therapy. The large and comprehensive study concluded efficacy of IB-Stim for gastrointestinal symptoms and functionality for pediatric disorders of gut-brain interaction (DGBI). Seven large, tertiary care centers in the US enrolled patients undergoing treatment with IB-Stim. Overall, 292 patients met Rome IV Diagnostic criteria for any pain associated disorder of the gut-brain interactions. In this cohort, 92% had failed medications therapy and 61% of patients had failed 4 or more medication when they entered the study. Patients were asked to fill out several validated pediatric measures, including the abdominal pain index (API), a validated questionnaire that assesses frequency, duration, and intensity of abdominal pain episodes. Data was collected weekly for the first 3 weeks and at 3, 6, 9 and 12 months. Compared to baseline scores, there were significant improvements in the API after 4 weeks of IB-Stim treatment at every time point, including 6 month (p<0.001) and 12 months (p<0.001). Announcement • Mar 13
Neuraxis, Inc. Appoints Kristin Ferge to the Board On March 7, 2024, the Board of Directors of NeurAxis, Inc. appointed Kristin Ferge to the Board to serve until the Company’s next annual meeting of shareholders. The Board has determined that Ms. Ferge is an independent director and meets the applicable director independence requirements of the NYSE American and rules promulgated by the Securities and Exchange Commission. The Board also appointed Ms. Ferge to Board’s Audit Committee as the Chairman of the Audit Committee. Kristin A. Ferge, 50, has been President and Chief Financial Officer of Capri Communities and Bridges Home Healthcare, a Wisconsin-based privately held senior living corporation, since 2016. Prior to joining Capri, Ms. Ferge was an executive for 18 years with Brookdale Senior Living Inc. or one of its predecessors. Ms. Ferge ended her tenure at Brookdale, a publicly traded senior living company, as Executive Vice President, Treasurer, and Chief Accounting Officer. Prior to Brookdale, Ms. Ferge was an auditor with KPMG. Ms. Ferge is a certified public accountant. Board Change • Feb 14
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Beth Keyser was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 16
NeurAxis, Inc. announced delayed 10-Q filing On 11/14/2023, NeurAxis, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. New Risk • Oct 27
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.81m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$2.4m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Negative equity (-US$10.0m). Market cap is less than US$10m (US$9.81m market cap). Minor Risk Revenue is less than US$5m (US$2.7m revenue). Announcement • Sep 27
NeurAxis, Inc. Announces Results of Comparative Study of IB-Stim and Standard Medical Therapy in Adolescents with Functional Abdominal Pain Disorders NeurAxis, Inc. announced the results of a retrospective comparative study of adolescent patients with functional abdominal pain disorders (FAPD) treated with IB-Stim™ therapy or standard of care medications, amitriptyline (tricyclic antidepressant) or cyproheptadine (antihistamine). Led by the Cincinnati Children’s Hospital Medical Center, the comparative study concluded that IB-Stim™ may be a good non-pharmacologic alternative for FAPD. The publication, Percutaneous electrical nerve field stimulation compared to standard medical therapy in adolescents with functional abdominal pain disorders, featured in the September 19th 2023 Frontiers in Pain Research, reviewed records of 101 adolescents treated with 4 weeks of IB-Stim™, amitriptyline or cyproheptadine. In the study, 59% of patients in the IB-Stim group had failed prior standard medical therapy. Evaluated outcome measures included validated pediatric questionnaires using Abdominal Pain Index (API), Nausea Severity Scale (NSS) and Functional Disability Inventory (FDI) at baseline and at 3-month follow up. The comparative analysis noted that: at follow up, IB-Stim™ therapy showed improvements in abdominal pain (p=0.001) and functional disability (p=0.048) compared to baseline, while amitriptyline showed improvements in abdominal pain (p=0.034); in a comparison of outcomes between groups, IB-Stim™ was more effective than cyproheptadine in improving abdominal pain (p=0.04) and did not differ from amitriptyline (p=0.64). Nausea scores did not differ between groups (p>0.05); and disability scores between groups were only more effective for amitriptyline vs. cyproheptadine (p=0.03). Disability scores did not differ from amitriptyline compared with IB-Stim™ (p=0.21). Reported Earnings • Sep 22
Second quarter 2023 earnings released Second quarter 2023 results: US$1.12 loss per share. Net loss: US$2.24m (flat on 2Q 2022). Announcement • Sep 13
NeurAxis, Inc. Announces Publication of Prospective Study Showing IB-Stim Improves Quality of Life of Adolescents with IBS NeurAxis, Inc. announced the publication of Prospective study of the effect of auricular percutaneous electrical nerve field stimulation on quality of life in children with pain related disorders of gut-brain interaction, a randomized, double-blind, placebo-controlled trial to evaluate the efficacy of IB-Stim™ in children with post-concussion symptoms, featured in the September 2023 Frontiers in Pain Research. The publication, led by investigators from Children’s Hospital of Orange County, investigated changes in gastrointestinal symptoms and quality of life in 31 adolescent patients aged 11 – 18 years with functional abdominal pain disorders (FAPDs) before and after treatment with IB-Stim. The patients were treated for 4 weeks and data were collected prospectively from both the patient and the parents using validated questionnaires. Following IB-Stim™ treatment, the study noted that: patients reported significant reductions in abdominal pain, nausea, disability, and anxiety from baseline to week 4 (p < 0.05); parent assessments reported significant improvement in the child’s quality of life based on physical function, psychosocial function, and generic core scale scores (p < 0.05); and parents also reported reduced abdominal pain, functional disability, and somatization in their child. The global health scores also significantly improved based on both patient and parent reports (p < 0.05). Announcement • Sep 01
Neuraxis, Inc. Highlights Pediatric Post-Concussion Clinical Study NeurAxis, Inc. highlighted A Prospective Study on the Effect of Auricular Percutaneous Electrical Nerve Field Stimulation (PENFS(TM)) in Patients with Post-Concussion Syndrome (PCS), a randomized, double-blind, placebo- controlled trial to evaluate the efficacy of IB-Stim(TM) in children with post-concussion symptoms. According to literature, the majority of concussions occur in children, mainly due to sports and unstructured play with or without helmets. While symptoms generally resolve in a few weeks, others persist, including ongoing headaches, nausea, and dizziness, as well as mood and behavioral disorders. Medications are primarily used for off-label in the treatment, despite the lack of evidence to support efficacy or safety. Currently enrolling up to 100 patients, the clinical trial's primary endpoint is improvements in validated measures, including the Immediate Post-Concussion Assessment, Post-Concussion Symptom Scale, and Balance Error Scoring Symptom compared to placebo. The trial is being conducted at Children's Hospital of Orange County, CA. Board Change • Aug 10
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Founder, Director of Design & Engineering and Director Gary Peterson was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Aug 10
NeurAxis, Inc. has completed an IPO in the amount of $6.592002 million. NeurAxis, Inc. has completed an IPO in the amount of $6.592002 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,098,667
Price\Range: $6
Discount Per Security: $0.42
Transaction Features: Sponsor Backed Offering 
