THE WOODLANDS, TX - Autonomix Medical, Inc. (NASDAQ:AMIX), a medical device company specializing in nervous system diseases, announced today a collaboration with NoiseFigure Research, Inc. (NFR), a service provider for application-specific integrated circuits (ASICs).
The partnership will focus on the enhancement of Autonomix's ASIC microchip, which is integral to the company's technology for diagnosing and treating neural-related conditions.
The agreement outlines that NFR will assist in upgrading Autonomix's microchip to a second-generation version in anticipation of human clinical trials slated for 2025. Additionally, NFR will evaluate a subsequent version designed for high-volume commercial production. "This collaboration with NFR is an important step in the evolution of our technology," stated Lori Bisson, CEO of Autonomix.
Autonomix's technology, which includes a catheter-based microchip sensing array, boasts a sensitivity approximately 3,000 times greater than the current market alternatives for sensing neural activity.
This heightened sensitivity is expected to improve the precision in targeting nerves for treatment, offering an alternative to systemic drugs or invasive procedures that may be less effective and carry significant side effects.
Currently, Autonomix is developing its technology to address pancreatic cancer-related pain, which often relies on opioids or invasive ethanol injections for pain management. These methods provide limited relief and come with the risk of adverse side effects. The company's approach aims to offer a potentially more effective and safer solution.
NFR, established in 2009, offers ASIC services and has recently expanded into manufacturing PCBs, substrates, and flexible electronics. The company supports a broad range of industries, including commercial, military, government, and aerospace sectors, driving advancements in technology and manufacturing.
The information for this article is based on a press release statement.
InvestingPro Insights
As Autonomix Medical, Inc. (NASDAQ:AMIX) forges ahead with its strategic partnership to enhance neural-related medical technology, the company's financial health and market performance are key indicators for potential investors. Autonomix's collaboration with NoiseFigure Research, Inc. could signal a pivot towards innovation and growth, but it's important to consider the company's current financial landscape.
InvestingPro data reveals that Autonomix has a market capitalization of $56.39 million, reflecting its valuation in the market. Despite a significant return over the last week, with a price total return of 9.36%, the company has experienced a sharp decline over the last three months, with the price falling by 38.52%. This volatility is a critical consideration for investors eyeing the company's potential.
Furthermore, Autonomix operates with a moderate level of debt and is currently not profitable, as indicated by its negative P/E ratio of -4.68. The adjusted P/E ratio for the last twelve months as of Q3 2024 is even lower at -5.49, emphasizing the company's ongoing challenges in generating earnings. These financial metrics suggest that Autonomix has yet to establish a solid footing in profitability, which may affect its ability to capitalize on its partnership with NFR.
InvestingPro Tips highlight that Autonomix suffers from weak gross profit margins and does not pay a dividend to shareholders, which could be points of concern for those seeking immediate returns. However, for investors focused on long-term growth prospects, the company's technological advancements and market potential in treating nervous system diseases might outweigh these financial drawbacks.
Prospective investors can explore further InvestingPro Tips on Autonomix by visiting InvestingPro’s dedicated section, which includes additional insights to inform investment decisions. For those considering an in-depth analysis, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are a total of 6 additional InvestingPro Tips available that can provide a more comprehensive understanding of Autonomix's financial and market position.
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