NanoVibronix Inc. (NAOV) shares rose 32.95% in pre-hours today. On Friday, NAOV’s stock soared 248.14% to close the normal trading session at $2.61. NAOV shares have risen 65.21% over the last 12 months, and they have moved up 262.20% in the past week. Over the past three months, the stock has gained 169.68%, while over the past six months, it has shed 89.13.
Let’s see is there any recent development behind its massive surge?
Positive findings of NAOV UroShield
On July 22, 2021, The Journal of Medical & Surgical Urology published an article with overwhelmingly positive findings from a study of patients that used NAOV UroShield in real-world settings.
The Chief Executive Officer of NAOV, Brian Murphy said that the independent study is further proof of the effectiveness and applicability of the company’s UroShield device in reducing the incidence of urinary tract infections and pain and discomfort caused by urinary catheters.
23 patients participated in the study and used UroShield for a minimum period of 12 weeks. patients reported a significant decrease in the number of UTIs and antibiotic treatment, had fewer catheter blockages and catheter changes, and the pain was reduced significantly by the end of the study.
NAOV Business update
On June 03, 2021, NAOV provided an update on its business.
- The company launched the next generation of its PainShield device at the end of 2020, which extends the functionality of its core product and broadens the opportunities for application. Delivery of the first devices is expected to be in Q2 2021.
- The company also expanded and replaced its original distribution agreement with Ultra Pain Products, to extend the term and increase minimum purchase requirements. UPPI is the exclusive distributor of PainShield® and PainShield® Plus™ devices to the Durable Medical Equipment (“DME”) distribution sector of the healthcare market in the United States.
- The company is establishing manufacturing capabilities both in the United States and Israel that will run parallel to its existing manufacturing operations located in Asia.
Adjourning of Special Meeting of NAOV Stockholders
On April 27, 2021, NanoVibronix, Inc (NAOV) adjourned the Special Meeting of Stockholders and scheduled it on May 6, 2021, but still, it has not been done yet and there is no new schedule is provided for the meeting.
Conclusion
The NAOV stock soared massively on Friday after the publication of positive results of UroShield. The NAOV stock can commence the new week with positivity as well.
