Neuraxis, INC

Neuraxis, Inc. (NYSE American: NRXS) is a medical technology company focused on neuromodulation therapies for chronic and debilitating gastrointestinal conditions, particularly disorders of gut-brain interaction in pediatric and adult populations. The company develops and commercializes percutaneous electrical nerve field stimulation technology designed to modulate central nervous system function through stimulation of cranial nerves in the ear.

The company's primary product is IB-Stim, a non-implantable, FDA-cleared Class II medical device indicated for patients eight years and older with functional abdominal pain associated with irritable bowel syndrome, functional dyspepsia, and associated nausea symptoms. IB-Stim delivers gentle electrical impulses to branches of cranial nerves V, VII, IX, and X through transdermal application, targeting pain-processing regions in the brain including the limbic system. The device is used for 120 hours per week over four consecutive weeks at a list price of $1,195 per device, with patients typically using four devices per treatment course.

The company also markets RED, the Rectal Expulsion Device, a point-of-care diagnostic tool cleared by the FDA in 2024 to evaluate neuromuscular function and assess rectal hypersensitivity in adult patients with chronic constipation. Additionally, Neuraxis maintains intellectual property rights to the NSS-2 Bridge device, which was previously licensed to Masimo Corporation for opioid withdrawal treatment and was recaptured by the company in 2025.

Neuraxis was established in 2011 and completed an initial public offering in August 2023. The company maintains a direct sales force focused on the approximately 260 children's hospitals in the United States, with IB-Stim currently established in approximately 80 of these facilities. The company has expanded its customer base to include adult gastroenterologists and pain physicians, particularly within the Veterans Affairs system. Clinical evidence supporting IB-Stim includes over 700 published patients across multiple peer-reviewed studies demonstrating efficacy and safety. The company's intellectual property portfolio includes nine registered trademarks and multiple patents protecting its method of accessing the central nervous system through auricular nerve stimulation. The company website is www.neuraxis.com.