NeurAxis (NYSEAM:NRXS) FY Conference Transcript

NeurAxis (NYSEAM:NRXS) FY Conference Summary Company Overview - Company Name: NeurAxis - Ticker: NRXS - Industry: Med Tech, specifically focused on neuromodulation therapies for gastrointestinal (GI) disorders - Market Position: Growth stage company with over 10 years of experience, recently expanded from pediatric to adult indications [2][3] Key Points and Arguments Corporate Developments - NeurAxis has secured a Category I CPT code for its PENFS technology effective January 1, 2026, which is crucial for scaling the technology and obtaining insurance coverage [3][4][21] - The company has expanded its commercial payer coverage to over 100 million covered lives, enhancing access to its treatments [4][24] - In 2025, NeurAxis reported revenues exceeding $3 million with a gross margin of approximately 84% [4][20] Market Opportunity - The serviceable available market for NeurAxis is estimated at $22 billion in the U.S., with specific indications like functional abdominal pain and IBS representing a $3 billion market opportunity [8][9] - There are about 6 million patients in the U.S. with functional abdominal pain and IBS, with 10% classified as debilitated [9] Clinical Focus - NeurAxis is concentrating on functional abdominal pain and functional dyspepsia in both pediatric and adult populations, with ongoing clinical trials for multiple indications [5][6] - The company emphasizes the importance of strong clinical data to support insurance coverage and reimbursement, which is critical for revenue growth [6][10] Competitive Advantage - NeurAxis is the only FDA-approved treatment recommended in pediatric guidelines for gut-brain interaction disorders, providing a unique market position [7][10] - The company has conducted 16 publications of investigator-initiated research, demonstrating the efficacy and safety of its technology [12] Financial Outlook - NeurAxis has a clear path to profitability, with expectations for gross margins to approach 90% in the coming year [29] - The company had $5 million in cash at the end of the previous quarter, with a monthly burn rate of approximately $450,000-$500,000 [29][30] Challenges and Strategies - The company faces challenges in scaling due to previous lack of insurance coverage and the need for more trained providers to utilize the technology [17][22] - NeurAxis is actively working to increase insurance policy coverage and improve its market presence through strategic partnerships and data presentation [26][27] Additional Important Information - The management team is experienced, with 90% of the team having been involved in the company's growth [8] - The company is focused on maintaining a strong intellectual property portfolio, which is expected to last until 2039 [18] - NeurAxis is committed to transitioning its technology to frontline treatment options for patients, aiming for earlier intervention and better long-term outcomes [27][28]