Added to YB: 2026-03-19
Pitch date: 2026-03-14
NRXS [bullish]
NeurAxis, Inc.
Author Info
MVC Investing is a long-term investor. BSc in Economics, MSc in Finance. Equity Analyst with a focus on Fundamental Analysis and Valuation. Sign up for the newsletter.
Company Info
NeurAxis, Inc., a medical technology company, focuses on developing neuromodulation therapies to address chronic and debilitating conditions in children and adults in the United States.
Market Cap
$75.1M
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
-10.46
P/E
-6.98
EV/Sales
21.18
Sector
Health Care Equipment and Supplies
Category
growth
NeurAxis (NRXS): Investment Thesis Explained
NRXS (new position): FDA-cleared neuromodulation device for pediatric stomach pain, only treatment in $5B SAM. Category I CPT code (Jan '26) unlocked reimbursement after 10yr wait; covered lives grew 4M→100M, Anthem added 45M. 92% gross margin, $4.8k/patient, mfg easily scales to $50-100M rev. Breakeven at $10-11M. CEO sees Q1 outperformance at top accounts. Risks: payer timing, cash runway, revenue concentration in 10 accounts. 2% penetration = $100M rev, multibagger at $70M mcap.
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