Neuraxis, Inc. (NRXS) Plans to Raise $0 in February 2nd IPO

Neuraxis, Inc. (NRXS) is planning to raise $0 in an initial public offering (IPO) on Thursday, February 2nd, IPO Scoop reports. The company plans to issue 0 shares at $0.00 per share.

In the last year, Neuraxis, Inc. generated $2.5 million in revenue and had a net loss of $5.6 million.

Alexander Capital acted as the underwriter for the IPO.

Neuraxis, Inc. provided the following description of their company for its IPO: “Neuraxis, Inc. makes a medical device that uses our proprietary PENFS technology to provide stimulation and give pain relief to children suffering from IBS (irritable bowel syndrome). We have concentrated our marketing focus on 260 children’s hospitals. To date, we have sold our IB-Stim product to approximately 50 children’s hospitals within our target market.  We are a growth stage company focused on developing neuromodulation therapies to address chronic and debilitating conditions in children. We are dedicated to advancing science with our proprietary PENFS technology, which we developed. “PENFS” means Percutaneous Electrical Nerve Field Stimulation. We believe that superior science and evidence-based research are necessary for adoption by the medical and scientific community. With one FDA indication — functional abdominal pain associated with IBS in (children and) adolescents 11-18 years old — on the market, additional clinical trials of PENFS in multiple pediatric conditions are underway focused on unmet healthcare needs in children, see “—Our Pipeline” for more information. The IB-Stim device is to be used for the indication of functional abdominal pain associated with IBS and functional nausea in children. The same underlying technology will be used for the remaining pipeline indications, but we may use a name other than “IB-Stim” for marketing and commercialization purposes.  With one FDA indication — functional abdominal pain associated with IBS in adolescents 11-18 years old — on the market, additional clinical trials of PENFS in multiple pediatric conditions are underway focused on unmet healthcare needs in children. These indications consist of chronic nausea, post-concussion syndrome, chemotherapy-induced nausea and vomiting, cyclic vomiting syndrome.  The chart below shows our status in the FDA process for IB-Stim and each of the following pediatric indications: 1. Chronic nausea — RCT completed, and data being analyzed, see ClinicalTrials.gov Identifier: NCT03675321. 2. Post-concussion syndrome — RCT currently enrolling patients, see ClinicalTrials.gov Identifier: NCT04978571. 3. Chemotherapy-induced nausea and vomiting — RCT currently enrolling patients, see ClinicalTrials.gov Identifier: NCT05143554. 4. Cyclic vomiting syndrome — Pilot study completed, see ClinicalTrials.gov Identifier: NCT03434652; multicenter RCT is anticipated to begin enrolling patients in the first half of 2023. *Note: Revenue and net loss figures are for the 12 months that ended Sept. 30, 2022. (Neuraxis, Inc. filed an S-1 dated Jan. 10, 2023. A confidential IPO filing was submitted by Neuraxis, Inc., to the SEC on Sept. 27, 2022.) “.

Neuraxis, Inc. was founded in 2011 and has 17 employees. The company is located at 11550 N. Meridian Street, Suite 325 Carmel, IN 46032 and can be reached via phone at (812) 689-0791.

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