DariaRen
Medical device maker NeurAxis (NRXS) has filed to raise up to $19M through an initial public offering.
While NeurAxis didn’t specify in its filing the number or price of the shares it intends to offer, it indicated in an attached filing fee schedule that it was looking to raise up to $19M.
The company hopes to list its shares on Nasdaq under the symbol NRXS. Alexander Capital is serving as lead bookrunner.
Based in Indiana, NeurAxis has been working on neuromodulator therapies for children suffering from chronic and debilitating illnesses. Its lead product, IB-Stim, has been cleared by the FDA as a non-implanted nerve stimulator device for the treatment of functional abdominal pain associated with IBS.
NeurAxis has been operating in the red. For the nine-month period ended Sept. 30, the company reported a net loss of $4.8M on revenue of $2M.
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