NeurAxis, Inc.
- Open
- 6.70
- Day high
- 6.85
- Day low
- 6.59
- Prev close
- 6.78
- Volume
- 39K
- Mkt cap
- $84M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 14.5
- P/S
- 19.5
- Yield
- —
- Per share
- —
NeurAxis, Inc. (NRXS) is a Healthcare company listed on NASDAQ. The stock is up 158% over the past year.
NeurAxis, Inc. (NRXS) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
NRXS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 12, 2026 | $-0.19 | $-0.18 | +5.3% | $2M | +10.9% |
| Mar 19, 2026 | $-0.21 | $-0.17 | +20.9% | $968000 | +13.9% |
| Aug 12, 2025 | — | $-0.22 | — | $894086 | — |
| Mar 20, 2025 | — | $-0.21 | — | $761165 | — |
| Aug 9, 2024 | — | $-0.42 | — | $611500 | — |
| May 20, 2024 | — | $-0.32 | — | $646635 | — |
| Nov 20, 2023 | $-0.17 | $-1.06 | -523.5% | $477460 | — |
| Aug 18, 2023 | — | $-0.37 | — | $646021 | — |
| Dec 31, 2022 | — | $-0.00 | — | $613082 | — |
| Sep 30, 2022 | — | $-0.25 | — | $618805 | — |
| Jun 30, 2022 | — | $-0.18 | — | $682581 | — |
| Mar 31, 2022 | — | $-0.10 | — | $770267 | — |
NRXS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Apr 30, 2026 | Aharon Gildirector | Grant | 221,917 | — |
| Apr 30, 2026 | Aharon Gildirector | Grant | 12,304 | — |
| Apr 3, 2026 | Henrichs Timothy Robertofficer: Chief Financial Officer | Buy | 7,593 | $1.96 |
| Apr 3, 2026 | Carrico Brian Allendirector, officer: Chief Executive Officer | Buy | 8,060 | $1.96 |
| Apr 3, 2026 | Carrico Thomas Joesephofficer: CRO, CCO, CPO | Buy | 667 | $1.96 |
| Mar 2, 2026 | Miranda Adrianofficer: CMO, SVP Science & Tech | Grant | 47,569 | — |
| Feb 26, 2026 | Henrichs Timothy Robertofficer: Chief Financial Officer | Grant | 75,231 | — |
| Feb 26, 2026 | Watkins Bradley Mitchelldirector | Grant | 21,598 | $4.63 |
| Feb 26, 2026 | Carrico Brian Allendirector, officer: Chief Executive Officer | Grant | 94,173 | — |
| Feb 26, 2026 | Carrico Thomas Joesephofficer: CRO, CCO, CPO | Grant | 47,569 | — |
| Feb 26, 2026 | Keyser Jane Elizabethdirector | Grant | 21,598 | $4.63 |
| Jan 30, 2026 | Aharon Gildirector | Grant | 21,598 | $4.63 |
| Jan 30, 2026 | Ferge Kristin Adirector | Grant | 21,598 | $4.63 |
| Dec 29, 2025 | Aharon Gildirector | Buy | 286,138 | $3.52 |
| Sep 10, 2025 | Miranda Adrianofficer: CMO, SVP Science & Tech | Grant | 10,000 | — |
Source: NRXS SEC Form 4 filings, latest Apr 30, 2026. For informational purposes only — not investment advice.
See the full NRXS insider & 13F page →NeurAxis, Inc. company profile
Overview
NeurAxis, Inc. (NASDAQ:NRXS) is a specialized medical device company founded in 2011 and headquartered in Carmel, Indiana. Originally incorporated as Innovative Health Solutions, Inc., the company rebranded to NeurAxis in March 2022 and went public in August 2023. NeurAxis focuses on developing and commercializing neuromodulation therapy devices, primarily targeting pediatric gastrointestinal disorders through its proprietary Percutaneous Electrical Nerve Field Stimulation (PENFS) technology.
Business
NeurAxis operates in the medical device sector within the broader healthcare industry, specifically focusing on neuromodulation therapies for gastrointestinal conditions. The company's flagship product is IB-Stim, a percutaneous electrical nerve field stimulation system designed to treat functional abdominal pain associated with irritable bowel syndrome in patients aged 8-21 years (recently expanded from the original 11-18 age range). IB-Stim works by delivering targeted electrical stimulation to specific nerve pathways through small electrodes placed behind the patient's ears. This non-invasive treatment modulates pain signals in the nervous system, providing relief from chronic abdominal pain without the need for medications or surgical interventions. The therapy typically involves a series of treatments administered in clinical settings, with each session lasting approximately 20 minutes. The company has also developed the Rectal Expulsion Device (RED), which received FDA clearance and is being soft-launched commercially. RED addresses functional constipation and related conditions in pediatric patients. Both products leverage the company's proprietary PENFS technology platform. NeurAxis generates virtually all of its revenue from IB-Stim device sales, with RED expected to contribute meaningfully starting in 2025. The company's primary customers are healthcare providers, including hospitals, pediatric gastroenterology clinics, and specialized treatment centers that serve children and young adults with functional gastrointestinal disorders.
Competitive moat
NeurAxis operates in a specialized niche with several defensive characteristics, though its moat is relatively narrow and still developing. The company's primary competitive advantage lies in its regulatory approvals and clinical validation. IB-Stim has FDA clearance specifically for functional abdominal pain associated with irritable bowel syndrome in the 8-21 age group, and the company has built a substantial clinical evidence base with 14 independent studies supporting its efficacy. This regulatory moat creates barriers for new entrants, as achieving FDA clearance requires significant time, capital, and clinical validation. The company also benefits from specialized expertise in PENFS technology and established relationships with pediatric gastroenterologists. However, this moat is not particularly wide, as the underlying electrical stimulation technology is not proprietary to NeurAxis, and larger medical device companies could potentially develop competing solutions. The most significant competitive threats come from pharmaceutical alternatives, which dominate the current treatment landscape for pediatric GI disorders. Large pharmaceutical companies have substantially greater resources for clinical trials, marketing, and market penetration. Additionally, established medical device companies like Medtronic or Boston Scientific could enter this market with superior financial resources and distribution networks. The company's competitive position is further challenged by its dependence on insurance reimbursement policies, which can change and directly impact market access. While NeurAxis has made progress expanding coverage, this remains a vulnerability that competitors with broader product portfolios and stronger payer relationships might exploit more effectively.
Risks & safety
NeurAxis presents significant financial risks with limited margin of safety for investors. • Cash burn and solvency: The company burns approximately $6 million annually with current cash of $2.0 million as of Q1 2025, indicating potential funding needs within 6-9 months without revenue acceleration or additional capital raises. • Debt levels: Moderate debt-to-equity ratio of 0.58, manageable but concerning given negative cash flows. The company has a $750,000 legal settlement to be paid in monthly installments throughout 2026. • Valuation metrics: Trading at negative P/E ratios due to losses, with high price-to-book ratio of 62x indicating significant premium to tangible assets. Enterprise value-to-EBITDA is negative due to operating losses. • Revenue scale: Current quarterly revenue of ~$900,000 needs to reach $10-12 million annually for breakeven, requiring substantial growth that depends heavily on insurance coverage expansion. • Market dependency: Success is highly dependent on insurance reimbursement policies and adoption by pediatric gastroenterologists, creating concentration risk in a specialized market segment.
Recent development
Over the past two years, NeurAxis has achieved several critical regulatory and commercial milestones that position the company for potential growth acceleration. The most significant development was securing a Category I CPT billing code effective January 2026, which provides permanent reimbursement status and assigns relative value units (RVUs) to physicians, making the treatment more attractive to healthcare providers. The company successfully expanded its FDA-approved age indication from 11-18 years to 8-21 years, broadening the addressable patient population. This expansion, combined with aggressive efforts to secure insurance coverage, has resulted in a dramatic increase in covered lives from 4 million to 51 million over the past year. NeurAxis has also diversified its product portfolio with the FDA clearance and soft launch of RED (Rectal Expulsion Device) for functional constipation. This product leverages existing PENFS technology and already has established CPT billing codes and national reimbursement, potentially providing a faster path to revenue contribution. The company has made strategic investments in market access capabilities, including building an internal prior authorization team to help navigate insurance approval processes. Management has also initiated clinical studies for adult indications, targeting FDA approval for adult functional dyspepsia by late 2025, which could significantly expand the addressable market beyond pediatric patients. Recent financial developments include securing $5 million in funding from a life sciences fund, providing runway for continued operations while the company pursues its path to profitability. Management has consistently guided toward achieving cash flow breakeven in 2025, contingent on continued insurance coverage expansion and revenue growth.
NRXS company profile · for informational purposes only — not investment advice.
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