NeurAxis (NRXS) investor relations material

Company overview and technology

• Focuses on pediatric GI disorders, with FDA indications for functional abdominal pain and functional dyspepsia in children aged 8–21.

• Utilizes a percutaneous electrical nerve field stimulator (IB-Stim) for neuromodulation, worn for five days per week over four weeks.

• Mechanism targets cranial nerves via the auricular area, modulating the amygdala to alleviate symptoms.

• Strong clinical and real-world data support efficacy, with significant results at 6 and 12 months post-treatment.

Unmet need and market opportunity

• No FDA-approved treatments existed for decades; children relied on off-label drugs with black box warnings.

• IB-Stim is the first FDA-cleared, evidence-backed, and safe alternative for these conditions.

• Approximately 1 million U.S. children are severely affected, missing three or more days of school weekly.

• Estimated $5 billion revenue opportunity at full market penetration.

Reimbursement and coverage challenges

• Initial hurdles included lack of insurance policy coverage and no RVU credit for physicians, limiting adoption.

• Physicians in children’s hospitals are incentivized by RVUs, but IB-Stim procedures previously offered none.

• Hospitals and physicians faced financial disincentives, stalling broader use despite clinical support.