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NeurAxis Plunges 22.31% on Direct Offering
Generated by AI AgentAinvest Movers Radar
Wednesday, May 21, 2025 7:34 am ET1min read
On May 21, 2025,
experienced a significant drop of 22.31% in pre-market trading, reflecting a notable shift in investor sentiment towards the company.NeurAxis recently announced a registered direct offering, aiming to raise approximately $5.0 million through the sale of 1,538,461 shares of its common stock at $3.25 per share. This move is part of the company's strategy to bolster its working capital and support general corporate purposes. The offering is expected to close on or around May 22, 2025, subject to customary closing conditions. Craig-Hallum Capital Group is acting as the exclusive placement agent for this transaction.
The company's focus on neuromodulation therapies, particularly its IB-Stim™ therapy for functional abdominal pain associated with irritable bowel syndrome (IBS) in adolescents, has been a key driver of its growth. NeurAxis is also conducting additional clinical trials to expand the application of its Percutaneous Electrical Nerve Field Stimulation (PENFS) technology to other pediatric and adult conditions with significant unmet healthcare needs.
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