By Adam L. Cataldo
Shares of Autonomix Medical jumped after the company reported positive preliminary results from a study on eliminating or easing pain in patients with pancreatic cancer.
The stock was up 85%, to $14.23 a share, in Monday trading after falling to a 52-week low of $7.51 on Friday.
The Woodlands, Texas, medical-device company went public in January when it sold 2.2 million shares of common stock at $5 each. Shares hit a 52-week high of $152 apiece on Jan. 29.
Autonomix reported positive preliminary results in the first five "lead-in" patients from an ongoing proof-of-concept human clinical trial. The company is studying the safety and effectiveness of delivering transvascular energy to kill problematic nerves.
All three patients who received treatment through femoral access responded positively, the company said. The two people who were treated through brachial access showed no improvement, or saw their pain scores worsen.
"Late-stage pancreatic cancer patients with chronic pain are often dependent on opioids, resulting in significant side effects with risk of addiction and opioid overdose," Chief Executive Officer Brad Hauser said. Initial data from the study indicates the reduction in pain scores eliminated the need for opioid use, he said.
The trial is expected to complete enrollment by year-end 2024. Autonomix's focus is on developing technologies to diagnose and treat diseases involving the nervous system.
Write to Adam L. Cataldo at adam.cataldo@wsj.com
(END) Dow Jones Newswires
October 28, 2024 12:12 ET (16:12 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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