THE WOODLANDS, TX - Autonomix Medical, Inc. (NASDAQ: AMIX), a company specializing in medical devices for neurological diseases, has announced a licensing agreement with RF Innovations, Inc. for the intellectual property of the Apex 6 Radiofrequency Generator. The FDA-cleared technology is intended for neural tissue lesioning in pain management.
The definitive agreement involves a stock transaction of 250,000 common shares, granting Autonomix a perpetual, non-exclusive, worldwide, and royalty-free license. The deal is anticipated to be finalized by the end of July 2024.
Autonomix aims to leverage the Apex 6 technology to enhance its therapeutic pipeline, particularly in the treatment of pancreatic cancer-related pain, a field where current options are limited and often have significant side effects.
Brad Hauser, President and CEO of Autonomix, expressed confidence in the agreement, stating it could streamline the company's regulatory strategy and accelerate the development of their novel sensing device. RF Innovations brings expertise in radio frequency generator development and manufacturing, which will be integrated into Autonomix's supply chain to support commercialization efforts.
Autonomix's technology platform includes a catheter-based microchip sensing array, which reportedly has significantly higher sensitivity for detecting neural signals than existing technologies. While the company's focus is initially on managing pancreatic cancer pain, it envisions expanding applications to other areas such as cardiology and chronic pain management.
The technology, still under investigation, has not yet received marketing clearance in the United States. Further information about Autonomix and its technology can be found on the company's website.
This licensing transaction is based on a press release statement and includes forward-looking statements subject to risks and uncertainties, as detailed in Autonomix's filings with the SEC. These statements reflect the company's current expectations and are not guarantees of future performance.
In other recent news, Autonomix Medical, Inc. has seen a series of significant developments. The company has announced a change in its executive leadership with Brad Hauser stepping in as the new CEO, while former CEO Lori Bisson transitions to the role of Executive Vice Chairman of the Board.
In addition, Autonomix has received Ethics Committee approval for a protocol amendment in its human clinical trial evaluating a new method for alleviating pancreatic cancer pain. The trial aims to ablate nerves causing pain in pancreatic cancer patients using a transvascular approach with RF ablation technology.
Another recent development involves a collaboration with NoiseFigure Research, Inc. (NFR) to enhance Autonomix's ASIC microchip, which is integral to the company's technology for diagnosing and treating neural-related conditions. This partnership aims to upgrade the microchip in anticipation of human clinical trials slated for 2025.
Furthermore, Autonomix has secured a new U.S. patent for its technology designed to treat cancer-related pain and augment organ function. This patent expands Autonomix's portfolio, which already comprises over 100 issued and pending patents across 15 families.
Lastly, the company continues to develop its technology platform, including a catheter-based microchip sensing array, with a focus on revolutionizing the diagnosis and treatment of diseases involving the peripheral nervous system.
InvestingPro Insights
As Autonomix Medical, Inc. (NASDAQ: AMIX) embarks on this strategic licensing agreement to enhance its therapeutic pipeline, investors are closely monitoring the company's financial health and market performance. According to InvestingPro data, Autonomix holds a market capitalization of approximately $11.65 million, signaling a relatively small player in the biotech field. The company's P/E ratio stands at -0.96, reflecting its current lack of profitability.
Despite the challenges, one of the InvestingPro Tips suggests that the stock is currently in oversold territory, which could indicate a potential rebound if investor sentiment shifts positively following the integration of the Apex 6 technology. Moreover, the company's liquid assets exceed its short-term obligations, providing some financial stability as it continues to develop and potentially commercialize its medical devices.
Investors looking for deeper insights into Autonomix's performance and future outlook can find additional tips on InvestingPro. There are currently 11 more InvestingPro Tips available, which could provide a more nuanced understanding of the company's position. For those interested in accessing these insights, use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
It is important to note that while the company has seen significant returns over the last week, with a 16.17% price total return, it has experienced a sharp decline over a longer period, with a 57.67% drop over the last month and an 87.81% fall from its 52-week high. These metrics highlight the volatility and risk associated with investing in small-cap medical device companies like Autonomix, especially those that are in the early stages of technology development and commercialization.
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