NeurAxis, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
September 21, 2023 at 01:00 pm
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NeurAxis, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 0.646021 million compared to USD 0.682581 million a year ago. Net loss was USD 2.24 million compared to USD 1.52 million a year ago. Basic loss per share from continuing operations was USD 1.21 compared to USD 0.87 a year ago.
For the six months, sales was USD 1.45 million compared to USD 1.45 million a year ago. Net loss was USD 4.41 million compared to USD 2.69 million a year ago. Basic loss per share from continuing operations was USD 2.39 compared to USD 1.56 a year ago.
Neuraxis, Inc. is a medical technology company focused on developing neuromodulation therapies to address chronic and debilitating conditions in children and adults. It is engaged in advancing science with its IB-Stim therapy, based on its Percutaneous Electrical Nerve Field Stimulation (PENFS) technology, which was developed internally by the Company. The Company's first product, IB-Stim, is a PENFS system intended to be used in patients 11-18 years of age with functional abdominal pain associated with IBS. The IB-Stim is intended to be used for 120 hours per week for three consecutive weeks, and not to exceed four weeks, through application to branches of Cranial Nerves V, VII, IX and X, and the occipital nerves identified by transillumination, as an aid in the reduction of pain when combined with other therapies for IBS. Other indications in its pipeline are comprised of functional nausea in children, post-concussion syndrome in children, and cyclic vomiting syndrome in children.