Neuraxis Inc 2026年季度报告

FORM 10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedMarch 31, 2026 or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission file number001-41775 NEURAXIS, INC.(Exact name of registrant as specified in its charter) (812) 689-0791(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit and post such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Accelerated filer☐Smaller reporting company☒Emerging growth company☒ Large accelerated filer☐Non-accelerated filer☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided to Section 7(a)(2)(B) of the Securities Act.☒ Indicate by check mark whether the registrant is a shell company (as defined in rule 12b-2 of the Exchange Act). Yes☐No☒ The number of shares of the registrant’s common stock outstanding as of May 8, 2026 was 12,384,405 shares. TABLE OF CONTENTS PART I3ITEM 1:FINANCIAL STATEMENTS3Condensed Balance Sheets as of March 31, 2026 (Unaudited) and December 31, 20253Condensed Statements of Operations for the Three Months Ended March 31, 2026 and 2025 (Unaudited)4Condensed Statements of Stockholders’ Equity for the Three Months Ended March 31, 2026 and 2025(Unaudited)5Condensed Statements of Cash Flows for the Three Months Ended March 31, 2026 and 2025 (Unaudited)6Notes to Condensed Financial Statements (Unaudited)7ITEM 2:MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATION23ITEM 3:QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK26ITEM 4:CONTROLS AND PROCEDURES27PART II28ITEM 1:LEGAL PROCEEDINGS28ITEM 1A:RISK FACTORS29ITEM 2:UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS29ITEM 3:DEFAULTS UPON SENIOR SECURITIES29ITEM 4:MINE SAFETY DISCLOSURES29ITEM 5:OTHER INFORMATION29ITEM 6:EXHIBITS29SIGNATURES302 NeurAxis, Inc.Condensed Balance Sheets 1. Basis of Presentation, Organization and Other Matters NeurAxis, Inc. (“we,” “us,” the “Company,” or “NeurAxis”) was established in 2011 and incorporated in the state of Indiana in 2012under the name of Innovative Health Solutions, Inc. The name was changed to NeurAxis, Inc. in 2022 when the Company filed aCertificate of Conversion and became a Delaware corporation. TheCompany is headquartered in Carmel,Indiana,and specializes in the development,production,and sale of medicalneuromodulation devices. The Company has developed four FDA cleared products: (i) the IB-STIM (DEN180057, 2019), (ii) theRectal Expulsion Device (“RED”) (K242304,2024), (iii) the NSS-2 Bridge (DEN170018, 2017) and (iv) the original 510(K) clearance(K140530, 2014). ●The IB-STIM is a percutaneous electrical nerve field stimulator (PENFS) device that is indicated in patients 8-21 years of agewith functional abdominal pain associated with irritable bowel syndrome and in patients 8 years and older with functionalabdominal pain associated with functional dyspepsia and related nausea symptoms.●RED is indicated to evaluate the neuromuscular function of a patient’s ability to expel its contents from the rectum and as aqualitative test for rectal hypersensitivity patients who experience desire or urge to defecate at lower volumes of distention.RED is intended to be used in a clinical setting by trained health care providers in adult populations.●The NSS-2 Bridge is a percutaneous nerve field stimulator (PNFS) device indicated for use in the reduction of the symptomsof opioid withdrawal and was licensed to Masimo Corporation (“Masimo”). Masimo marketed and sold this product as itsMasimo Bridge. On July 1, 2025, the Company terminated the NSS-2 Bridge license with Masimo in exchange for $200,000of consideration payable in equal installments on December 3