Autonomix Medical (AMIX) Registration filing summary

Company overview and business model

• Development-stage medical device company focused on innovative catheter-based technologies for sensing and treating nervous system disorders, initially targeting pain management in pancreatic cancer patients.

• Proprietary microchip-enabled sensing array claims 3,000x greater sensitivity than current market devices, with potential applications in chronic pain, hypertension, cardiovascular, and other nerve-related disorders.

• Commercialization strategy centers on single-use disposable catheters for hospitals, with a focus on rapid regulatory clearance and expansion to broader indications.

• Holds 87 issued patents and 42 pending applications across 18 patent families, supporting a robust IP portfolio.

Financial performance and metrics

• As of September 30, 2024: accumulated deficit of $44.5 million, negative cash flows from operations of $3.4 million, and working capital of $4.1 million.

• Fiscal year ended March 31, 2024: net loss of $15.4 million, operating expenses of $12.0 million, and no revenue generated.

• Cash balance of $5.2 million as of September 30, 2024, with sufficient funds to operate into but not beyond Q2 2025.

• Auditor's report expresses substantial doubt about ability to continue as a going concern.

Use of proceeds and capital allocation

• Estimated net proceeds of $9.0 million from the offering, primarily allocated to clinical trials, R&D, IP development, and working capital.

• Management has broad discretion over use of funds; additional financing of ~$40 million will be required to reach commercial launch.