Wednesday, May 12, 2021

What is behind the fall of NanoVibronix Inc. (NAOV) stock?

NanoVibronix, Inc (NAOV) a medical device company focusing on noninvasive biological response-activating devices, announced the Company’s Special Meeting of Stockholders has been adjourned once again to provide extended time for stockholder voting. During the extended time, NAOV will continue to solicit proxies from its stockholders in regards to the objectives set by the company’s proxy statement. NanoVibronix stock saw a slight decline adjacent to the news.


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NanoVibronix Inc. (NAOV) shares declined 2.70% to trade at $1.08 in the current market at the last check. The stock of NAOV completed the previous trading session at $1.11. The price range of the company’s shares was between $0.9765 and $1.19. n the past 12 months, the company’s stock has retreated -43.65%, and in the last week, the stock has moved up 30.59%

About NanoVibronix, Inc


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NanoVibronix Inc. (NASDAQ: NAOV)  specializes in commercializing medical devices leveraging its patented low-intensity surface acoustic wave (SAW) technology. The technology utilizes creation of low-frequency ultrasound which can be used in several medical applications such as disruption of biofilms and reducing bacteria, as well as providing relief from pain. The device may be used from home without the need of a physician or medical staff.

Some of the NAOV product line include UroShield®, PainShield® and WoundShield® and Surface Acoustic Wave (SAW). U.S. Centers for Medicare and Medicaid Services (CMS) has added its product PainShield™ to the durable medical equipment schedule, expanding the reimbursement approval of the company’s product.

The approval paves way for a substantial increase in distribution and eradicates certain limitations being faced by the company until now. The company saw a surge in demand once the product was added to the reimbursement schedule.

The company had also announced a real-world patient study of its UroShieldwhich was initiated at Southampton University Health Sciences in collaboration with Southern Health NHS Foundation Trust. Interim results of the study are predicted to have availability by October 2021 with full results published early in 2022.

Conclusion

NAOV has a patented diversified product line and uses groundbreaking technology for medical application use. Furthermore, adding of its product to the DME schedule has expanded its distribution. However, adjournment of the Company’s Special Meeting of Stockholders has reduced investor interest with a stock price slightly decreasing.

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