Autonomix Medical, Inc. AMIX shared positive preliminary results from its first five lead-in patients in a proof-of-concept trial. The trial assesses the safety and effectiveness of Autonomix's proprietary radiofrequency (RF) ablation technology, designed to ablate targeted nerves and reduce pain in late-stage pancreatic cancer patients.
Among participants, three treated through femoral access experienced significant pain reduction — from a mean score of 8 to 1.33 on the Visual Analog Scale — and were able to discontinue opioid use within four to six weeks of treatment. The company anticipates completing patient enrollment in the trial by the end of 2024.
For managing moderate-to-severe pain in advanced pancreatic cancer patients, opioids are commonly used. However, these often come with significant side effects and risk of dependency. Research indicates that pain from pancreatic cancer not only impacts quality of life but may also affect survival rates.
AMIX Stock Rises Following the News
Following the news, shares of AMIX rose 60.6% to $12.38 at yesterday’s close.
Shares of AMIX have plunged 87.8% year to date against the industry’s 21.9% growth. The S&P 500 has risen 21.9% in the same time frame.
After the encouraging share price movement and the positive preliminary results from the RF Ablation Trial, investor sentiment turned favorable, reflecting optimism about the company's prospects and future market performance. The promising trial outcomes signal a potential breakthrough in pain management, particularly for conditions with limited existing treatment options.
AMIX's RF Ablation Trial Yields Positive Results
The development marks a potential breakthrough in managing pain for pancreatic cancer patients who often rely on opioids. Autonomix's precision-targeted RF ablation provides a novel approach, promising effective, localized pain relief with reduced reliance on opioids.
Autonomix's catheter-based microchip sensing array detects neural signals with 3,000 times greater sensitivity than current technologies, enabling precise identification and ablation of problematic nerves. This innovation enhances pain management and has potential applications in cardiology and chronic pain, marking Autonomix as a key player in nerve-targeted therapies.
Management noted that early results from the ongoing trial demonstrated a significant and lasting reduction in pain among responsive patients, leading to the elimination of opioid use. The company highlighted this as a potential breakthrough in pain management and expressed optimism about further assessing this approach's impact on patient outcomes.
More on the Trial
The first five patients, who were treated to familiarize the Principal Investigator with the protocol, showed no procedural complications and provided encouraging results at seven days and in the four-to-six-week follow-up.
The protocol was updated to collect data on tumor encroachment and refine pain criteria, requiring patient-reported scores of over seven on the VAS scale. An additional 20 patients will join the trial and enrollment is expected to conclude by the end of 2024.
Market Prospects Favoring AMIX
Per a report in Grand View Research, the global radiofrequency ablation devices market size was worth $4.8 billion in 2023. It is anticipated to reach $10.5 billion by 2030 at a CAGR of 11.9%.
The robust growth is likely to be driven by the increasing preference for minimally invasive surgeries, the growing geriatric population and the rise in healthcare spending.
Recent Development at Autonomix Medical
In July, Autonomix signed a definitive agreement with RF Innovations to license intellectual property for the Apex 6 Radiofrequency Generator, an FDA-cleared ablation technology for managing peripheral nervous system pain. The transaction involves 250,000 shares of common stock and provides Autonomix a perpetual, worldwide, royalty-free license.
Zacks Rank & Key Picks
Currently, Autonomix carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Addus HomeCare ADUS, Quest Diagnostics DGX and RadNet (RDNT). While Addus HomeCare sports a Zacks Rank #1 (Strong Buy), Quest Diagnostics and RadNet carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Addus HomeCare has an estimated long-term growth rate of 12.1%. ADUS’ earnings surpassed estimates in each of the trailing four quarters, with the average being 11.5%.
Addus HomeCare shares have rallied 85.5% compared with the industry's 16.9% growth year to date.
Quest Diagnostics has an estimated long-term growth rate of 6.5%. DGX earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 3.4%.
Quest Diagnostics’ shares have gained 90.7% compared with the industry's 17.9% growth year to date.
RadNet’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 98.2%.
RDNT's shares have surged 93.7% year to date compared with the industry’s 14.8% growth.
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