AMIX Gaps 60% Pre-Market: The Catalyst Was an 8-K Showing More Cash Per Share Than the Stock Price

Tuesday July 28 was a strange tape for Autonomix Medical. The regular session was actually red — shares closed at $2.75, down about 1.4% on the day, and then ripped roughly 54% after the bell to the low $4s. As of this writing, 8:57 AM ET Wednesday July 29, the stock is holding in the mid-$4s pre-market on close to 15 million shares traded — against a float that, even using the company’s own updated count, is under a million shares. The float has turned over more than a dozen times before the opening bell. That’s the definition of a loaded spring.

The catalyst: a filing, not a press release

No product news dropped Tuesday night. Two SEC filings did. First, an 8-K disclosing that as of July 28 the company held roughly $5.1 million in cash with 971,043 shares of common stock outstanding — do the math and that’s about $5.25 per share in cash against a $2.75 close. The stock was trading at roughly half its cash balance, and the tape noticed. Second, the supply side of the story: the company registered 857,462 shares for resale upon exercise of Series D warrants carrying a $5.75 exercise price. Those trace back to a July 13 inducement where an investor exercised 428,731 November 2025 warrants and received new Series D-1 and D-2 warrants for 428,731 shares each.

Note the vendor data lag here: most quote feeds still show the pre-inducement share count, so the screen float looks even smaller than reality. The 8-K’s 971K figure is the one to trade off.

What the company actually does

Autonomix is a development-stage medical device company building a catheter-based, microchip-enabled array for sensing and treating nervous-system disorders. It’s been productive lately: it regained Nasdaq minimum-bid compliance on July 9 — courtesy of a 1-for-21 reverse split enacted June 24 — announced a new U.S. patent July 23, and reported preclinical renal denervation sensing data July 24. None of that stopped the stock from printing a 52-week low Tuesday morning. The cash disclosure is what flipped the tape.

The levels

Pre-market carved a clean bracket: roughly $4.00 on the low end, $5.29 on the high, with volume-weighted price in the mid-$4.60s. Last prints are below that VWAP — sellers have had the ball since the early spike. The map from here:

• $5.75 — the warrant strike. Freshly registered paper gets economic right at that line. Expect real supply into it; a clean move through would mean up to ~$4.9M hitting the company’s treasury and ~88% more shares hitting the float over time.
• $5.25–$5.30 — cash value meets the pre-market high. The bull argument and the technical ceiling sit almost on top of each other. That confluence is the fight.
• $4.00 — pre-market support. Lose it and the gap toward $2.75 opens up fast; there’s no volume shelf in between.

Short interest adds a wrinkle: it sits around 3.1%, and the July 15 reading showed it nearly quadrupling month-over-month — small in absolute shares, but on a float this thin, forced covering moves price.

Risks are the standard micro-float menu: circuit-breaker halts are near-certain at this volatility, the reverse split and serial warrant inducements mark this as a company that finances into strength, and any pop toward $5.75+ invites exercise-and-sell flow. If price reclaims pre-market VWAP on rising volume after the open, dip buyers are in control; failure at $4.00 says the spring already snapped.

This is not investment advice — do your own research and size for the volatility.

The Setup: This is a Float Squeeze play — read the pattern guide to learn how these setups typically unfold.