NeurAxis Announces Medical Coverage Policy Milestone, Expanding Access to Over 18 million additional Covered Lives
New coverage from a major national insurer lifts PENFS access to over 120 million covered lives, supporting broader IB-Stim adoption and reimbursement.
Rhea-AI Summary
NeurAxis (NRXS) received new medical policy coverage from a major national health insurer for its Percutaneous Electrical Nerve Field Stimulation (PENFS) therapy on September 16, 2026, adding access for approximately 18 million health plan members.
This expansion increases the total U.S. coverage footprint for PENFS to over 120 million covered lives. NeurAxis’ proprietary PENFS device, IB-Stim, is FDA-cleared for functional abdominal pain associated with irritable bowel syndrome (IBS) and functional dyspepsia (FD), including FD-related nausea, in patients 8 years and older. The company highlights that there are currently no FDA-approved drug therapies for pediatric abdominal pain related to functional dyspepsia. A Category I CPT code for PENFS became effective January 1, 2026, supporting reimbursement and commercialization efforts.
Positive
- New coverage from a major national insurer adds ~18 million covered lives
- Total PENFS coverage footprint now exceeds 120 million covered lives
- Category I CPT code for PENFS effective January 1, 2026, supports reimbursement
- IB-Stim is the only FDA-cleared therapy for pediatric functional dyspepsia-related abdominal pain
Negative
- None.
News Explained
The insurer’s policy expands access, but the release gives no payment commitment, utilization estimate, or resulting revenue; it therefore establishes a coverage gain, not a disclosed cash inflow.
Details
Market reaction after Payer coverage expansion: NRXS +7.37%
Following this news, NRXS has gained 7.37%, reflecting a notable positive market reaction. Our momentum scanner has triggered 7 alerts so far, indicating moderate trading interest and price volatility. The stock is currently trading at $6.12. Trading volume is exceptionally heavy at 25.6x the average, suggesting very strong buying interest.
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Key Figures
- Additional covered lives
- 18 million
- New national health insurer coverage
- Total coverage footprint
- Over 120 million covered lives
- PENFS national coverage footprint
- Category I CPT code effective date
- January 1, 2026
- PENFS reimbursement infrastructure
- Eligible patient age
- 8 years and older
- IB-Stim FDA-cleared indication
Historical Context
-
New regional payer policies expanded access for IB-Stim beneficiaries
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Payer coverage supported revenue growth and improved gross margin
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
percutaneous electrical nerve field stimulation medical
fda-cleared regulatory
functional dyspepsia medical
category i cpt code regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
Total national coverage footprint for PENFS increases to over 120 million covered lives
CARMEL, Ind., Sept. 16, 2026 (GLOBE NEWSWIRE) -- NeurAxis, Inc. (“NeurAxis” or the “Company”) (NYSE American: NRXS), a medical technology company commercializing neuromodulation therapies for chronic and debilitating conditions in children and adults, today announced significant new medical policy coverage from a major national health insurer for Percutaneous Electrical Nerve Field Stimulation (“PENFS”). The coverage spans multiple states and represents approximately 18 million health plan members.
NeurAxis’ proprietary PENFS technology, IB-Stim, is FDA-cleared for the treatment of functional abdominal pain associated with irritable bowel syndrome (IBS) and Functional Dyspepsia (FD) including associated nausea symptoms in patients 8 years and older. IB-Stim is a non-invasive neuromodulation device that gently stimulates cranial nerve bundles in the ear to help regulate pain signaling between the gut and the brain. Currently, no FDA-approved drug therapies exist for pediatric patients with abdominal pain related to functional dyspepsia, a significant unmet medical need. In the absence of approved options, off-label prescription drugs are often used, despite limited efficacy data and potential safety concerns—underscoring IB-Stim’s unique position as the only FDA-cleared therapy specifically designed for this large and underserved pain related patient population.
“NeurAxis’ growth is accelerating as we execute on our plans to expand payer coverage, broaden patient access and scale commercialization of IB-Stim,” said Brian Carrico, Chief Executive Officer of NeurAxis. “Securing medical policy coverage for PENFS from one of the nation’s leading health insurers demonstrates tangible progress against these priorities. We are translating our clinical evidence into meaningful coverage gains and actively pursuing additional major national insurers to build on this momentum.
“With a Category I CPT code effective January 1, 2026, and our proprietary PENFS technology incorporated into leading national society clinical practice guidelines, we have established a strong foundation to support continued growth. Our focus is now on converting these achievements into broader physician adoption, increased patient access and sustained commercial expansion. Backed by a strengthened balance sheet and growing payer recognition, we believe NeurAxis is well positioned to deliver significant revenue growth and margin expansion as we continue executing on our strategy.”
About NeurAxis, Inc.
NeurAxis, Inc., is a medical technology company focused on neuromodulation therapies to address chronic and debilitating conditions in children and adults. NeurAxis is dedicated to advancing science and leveraging evidence-based medicine to drive the adoption of IB-Stim, its proprietary Percutaneous Electrical Nerve Field Stimulation (PENFS) technology, by the medical, scientific, and patient communities. IB-Stim is FDA-cleared for functional abdominal pain in irritable bowel syndrome (IBS) and functional dyspepsia, including FD-linked nausea symptoms in patients ages 8 and older. Additional clinical trials of PENFS in multiple pediatric and adult conditions with large unmet healthcare needs are underway. For more information, please visit http://neuraxis.com.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements are based on management’s current assumptions and expectations of future events and trends, which affect or may affect the Company’s business, strategy, operations or financial performance, and actual results and other events may differ materially from those expressed or implied in such statements due to numerous risks and uncertainties. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. There are a number of important factors that could cause actual results, developments, business decisions or other events to differ materially from those contemplated by the forward-looking statements in this press release. These factors include, among other things, the conditions in the U.S. and global economy, the trading price and volatility of the Company’s stock, public health issues or other events, the Company’s compliance with applicable laws, the results of the Company’s clinical trials and perceptions thereof, the results of submissions to the FDA, and factors described in the Risk Factors section of NeurAxis’s public filings with the Securities and Exchange Commission (SEC). Because forward-looking statements are inherently subject to risks and uncertainties, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements speak only as of the date of this press release and, except to the extent required by applicable law, the Company undertakes no obligation to update or revise these statements, whether as a result of any new information, future events and developments or otherwise.
For contraindications, precautions, warnings, and IFU, please see: https://ibstim.com/important-information/.
For important RED information, including indications, precautions, and contraindications, visit: https://red4constipation.com/information/
Contacts:
Company
NeurAxis, Inc.
info@neuraxis.com
For contraindications, precautions, warnings, and IFU, please see: https://ibstim.com/important-information/.
Investor Relations
Lytham Partners
Ben Shamsian
646-829-9701
shamsian@lythampartners.com
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What conditions is NeurAxis’ IB-Stim therapy cleared to treat?
IB-Stim is FDA-cleared for the treatment of functional abdominal pain associated with irritable bowel syndrome (IBS) and functional dyspepsia (FD), including FD-linked nausea symptoms, in patients 8 years and older.
Why does NeurAxis describe IB-Stim as uniquely positioned for pediatric patients?
The company states that there are currently no FDA-approved drug therapies for pediatric patients with abdominal pain related to functional dyspepsia. In this setting, off-label prescription drugs are often used despite limited efficacy data and potential safety concerns, which NeurAxis says underscores IB-Stim’s position as the only FDA-cleared therapy specifically designed for this pain-related pediatric population.
What is Percutaneous Electrical Nerve Field Stimulation (PENFS) and how does IB-Stim work?
PENFS is a non-invasive neuromodulation approach. IB-Stim gently stimulates cranial nerve bundles in the ear to help regulate pain signaling between the gut and the brain.
How does the new CPT code support NeurAxis’ commercialization strategy?
A Category I CPT code for PENFS became effective January 1, 2026. The company indicates this code, along with inclusion in national clinical practice guidelines, provides a foundation to support reimbursement, broader physician adoption, increased patient access and commercial expansion.