- The stock price of NanoVibronix Inc (NASDAQ: NAOV) increased by 133.78% this past week. This is why it happened.
The stock price of NanoVibronix Inc (NASDAQ: NAOV) – a medical device company that produces the UroShield and PainShield Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices – increased by 133.78% this past week, going from $0.82 as of July 22 morning to $1.91 yesterday. Investors have been responding positively to NanoVibronix announcing it has fulfilled the first order of its next generation pain management device PainShield Plus and expects to recognize revenue for the sale in the third quarter of 2021. PainShield Plus covers 2 times the surface area for pain therapy and is sold at a higher gross margin compared to the original PainShield MD.
Like the original PainShield, PainShield Plus utilizes ultrasound therapy for the treatment of pain and various soft tissue injuries either directly over joints or orthopedic hardware and without the need for messy ultrasound gels. And the device is an effective solution for avoiding opioid treatments and equips patients to receive therapy independently in the comfort and safety of their own homes.
The device consists of a reusable driver unit and disposables — which includes a proprietary therapeutic transducer and cover adhesive to deliver a localized ultrasound effect to treat pain and induce soft tissue healing in a targeted area, while keeping the level of ultrasound energy at a safe and consistent level. And its range of applications includes acute and chronic pain resolution through its many mechanisms of action and can be used by patients at home, work, or in a clinical setting and can be used even while the patient is sleeping.
The patient benefits include ease of application and use, faster recovery time, high compliance, and increased safety and efficacy over existing devices that rely on higher-frequency ultrasound.
“This first shipment represents a significant milestone for our patent pending PainShield Plus. We launched the device late in 2020 to overwhelmingly positive response from orthopedic and neurological patients and healthcare providers. We are increasingly optimistic about the prospects for further market penetration given completion of this first shipment and an increasing interest from distributors and prescribers.”
— Brian Murphy, Chief Executive Officer of NanoVibronix, Inc
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.