NanoVibronix Inc. (NAOV) stock prices were down by 6.78% as of the market closing on August 31st 2021. This brought the price per share down to USD$2.75 at the end of the trading day. Subsequent premarket fluctuations saw the stock rise by 1.45%, bringing it up to USD$2.79.
NAOV Stock Reworks Product Portfolio
NAOV stock had a stellar first half of fiscal 2021, with the continued and accelerating progress made towards full commercialization of its products. The past quarter has seen the expansion of distribution, clearance of regulatory approvals, and the launch of PainShield Plus. The company also plans to launch its PainShield RELIEF as an over-the-counter option for patients, thereby significant expanding the company’s addressable market.
Continued Development
The company’s entire product portfolio has been redesigned, with the new version boasting improved appearance, functionality, and efficiency. NAOV stock has submitted patent applications to protect its intellectual property, in the interest of both its existing brands and technologies as well as products still in development. The company’s stellar business model is comprised of innovative products that are in the process of clearing regulatory approvals and a high-quality manufacturing partner, in conjunction with global distribution channels. The market environment itself has been exhibiting increasing demand that facilitates further growth.
Favorable Market Environment
The demand for product current exceeds the company’s supplies across all of the markets it is involved in, including commercial, insurance, and the Veterans Administration (VA). In tandem with the energy of its distributors to bring products to the market, the company finds this level of demand to reinforce optimism for continued growth. The company’s growing backlog of orders and its ongoing submissions for regulatory approval in new markets has resulted in further expansive developments. NAOV stock is actively searching for additional manufacturers for their products, as well as initiating engagements with addition contract manufacturers around the world to expand output.
NAOV Stock’s PainShield RELIEF
The company is also planning its entry into the over-the-counter market with the launch of PainShield RELIEF. RELIEF is a derivative of NAOV stock’s prescription PainShield that is expected to be available without a clinician’s prescription. The company opening and expanding availability of the pain management device to the mass market will result in the expansion of revenue potential.
Future Outlook for NAOV stock
The company reported a strong Q2 2021, evidenced by the strength of its financial reports. NAOV stock is poised to capitalize on the opportunities presented to as a result of the momentum it has generated. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value.
