Autonomix’s Stock Rallies on Strong Trial Results: Retail Sentiment Soars

Shares of Autonomix Medical Inc. ($AMIX) soared by over 90% on Monday morning after the company reported positive results from its clinical trial focused on managing pain in pancreatic cancer patients.

It ranked as the second-highest trending stock on Stocktwits on Monday, trailing only Trump Media & Technology Group Corp. ($DJT), and was also among the top 10 most watched stocks.

The trial employs an innovative technique to target and ablate the nerves responsible for pain in late-stage pancreatic cancer patients. 

Early results from the first five participants, known as the "lead-in" cohort, have been promising, with all reporting significant pain relief after the procedure.

Set to conclude by the end of 2024, the trial seeks to provide an alternative to opioid pain management, which poses risks of addiction and overdose.

Autonomix's technology features a catheter-based microchip sensing array antenna, which can detect neural signals more sensitively than current technologies. This precision-guided approach is intended to diagnose and treat issues related to the peripheral nervous system.

To further enhance the trial, the company plans to enroll 20 additional patients, focusing on those experiencing higher levels of pain.

Retail sentiment on Stocktwits shot up to ‘extremely bullish’ (89/100) from ‘neutral’ a day ago accompanied by ‘extremely high’ (92/100) chatter. 

On Thursday last week, Autonomix completed a 1-for-20 reverse stock split. Every 20 shares were combined into one share, reducing the total number of outstanding shares from about 23 million to around 1.15 million.

Autonomix’s stock has been struggling since its listing in February, earlier this year. It saw highs of $152 and has since lost 86% of its value.

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