What is the mechanism of action?

The precise molecular mechanism of action has not been completely established. Simultaneous blockade of voltage-sensitive sodium dependent action potentials and ligand-activated calcium responses of cultured neurons are consistent with an effect of the Quadrapolar generated magnetic field on gating dipoles within the transmembrane portions of the ion channel sequences. The effects in a number of biological systems, including cultured cells and animal models, suggest that there may be multiple simultaneous mechanisms of action. See here for a published theory.