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Tag: NASDAQ: NAOV

  • NanoVibronix Inc. (NAOV) stock rises in after-hour trading. Why is it so?

    NanoVibronix Inc. (NAOV) stock rises in after-hour trading. Why is it so?

    NanoVibronix Inc. (NAOV) stock rises by 7.84% in the after-hour trading session while there is no recent news available related to this gain in NAOV stock price. NanoVibronix is a medical device company specializing in the development of medical devices based on its innovative low intensity surface acoustic wave technology. This technology enables the development of low-frequency ultrasound waves for a range of medical applications, including the disruption of biofilms and bacteria invasion, as well as pain management.

    Recent Important Events

    On March 31, NAOV stock announced their Special Meeting of Stockholders, which was scheduled for March 31, 2021, that it has got postponed in order to give stockholders more time to vote. The meeting is set to take place again on April 14, 2021. NAOV would continue to receive proxies from its stockholders for the resolutions set out in the Company’s proxy statement throughout the time of postponement. Until properly repealed, proxies previously submitted in relation to the Special Meeting will be voted on at the reconvened meeting. All stockholders who have not yet voted are encouraged to do so before April 13, 2021.

    Also on March 2, 2021, NAOV revealed that through a service disabled veteran group, NAOV’s UroShield urology therapy device has been added to the Federal Supply Schedule, making it possible for Veterans being handled by the Veterans Administration to obtain and use the UroShield.

    The PainShield, NanoVibronix’s other patented product, was put on the Federal Supply Schedule on September 1, 2019, ensuring veterans’ access to non-opioid pain treatment. Veterans who have indwelling Foley catheters will now get UroShield which is a medication to prevent Catheter-Associated Urinary Tract Infections.

    Conclusion

    The postponement of Special Meeting of Stockholders could be the possible reason for this change in NAOV stock price since the meeting has yet to happen. Until the meeting takes place, we will probably witness the NAOV stock to vary quite a few time. The investors would also be looking forward to the final result of this meeting.

  • Why NanoVibronix Inc [NAOV] Is the Stock to Watch after UroShield® Approval

    Why NanoVibronix Inc [NAOV] Is the Stock to Watch after UroShield® Approval

    NanoVibronix Inc [NASDAQ: NAOV] is on a roll this morning. The stock started gaining upside momentum pre-market when it gained by over 80%, and it’s not easing up. The stock’s upside momentum started after the company announced that the U.S FDA had given it the authorization to sell UroShield® in the U.S market. The FDA stated that UroShield® can apply the Intended Use Code 081.006: Enforcement Discretion Per Final Guidance. It can also use the FDA Product code QMK.

    The FDA authorization has opened the way for the company to start shipping UroShield® to the U.S during the COVID-19 pandemic. This effectively opens up the company’s market at a time when a product like UroShield® is needed in the market.  That’s because, by design, it helps prevent incidents of CAUTI in people suffering from ailments that need the long-term use of indwelling catheters.

    UroShield® achieves this because it is ultrasound-based, which means it is uniquely positioned to stop the buildup of bacteria on urinary catheters that are put inside. By its design, it helps cut on the possibility of catheter-related urinary tract infections, while also cutting on the possibility of CAUTI incidence in people that need long-term catheterization.

    Commenting on the breakthrough, CEO Brian Murphy stated that the FDA continued to carry out its mandate of protecting the public through various means that include shortening the time needed to review new medical devices that are beneficial to the public during the COVID-19 period.   He added that it is on this basis that the FDA approved UroShield® for its ability to lower urinary tract infections. The CEO also touched on the uniqueness of the product stating that at the moment, the company was not aware of any other devices that have the ability to avoid catheter-linked urinary tract infections with the same level of efficiency as UroShield®.

    From an investor perspective, the approval of UroShield® is a big deal for this stock’s value. That’s because it offers the company a foothold in one of the largest markets in the world.  Demand in the U.S is likely to be driven up by COVID-19 has led to an increase in people that need catheterization and the fact that UroShield® has no close competitors in the U.S. This points to higher revenues in the short-term, and a significant increase in the company’s intrinsic value.

    About NanoVibronix Inc

    NanoVibronix Inc makes and sells non-invasive devices that help prevent biofilm, and in pain therapy. It is headquartered in Elmsford, New York.

  • Stocks to Watch as Markets Rebound after Days of Selloffs

    Stocks to Watch as Markets Rebound after Days of Selloffs

    The markets are headed for a mixed start to the day. After several days of selloffs, things have stabilized with tech stocks leading the way. Investors are hopeful that a stimulus package if it comes through, would help support the economy after it took a hit due to the COVID-19 lockdowns. Nonetheless, sentiment remains weak as elections approach.

    Due to the huge difference in policies between President Trump and his main rival Joe Biden, investors are getting out of risky investments as they await the election and its outcome. This is likely to continue weighing in on the markets in the short term. There is also the fact that the COVID-19 pandemic continues to hang over the markets like a bad cloud.

    So far the numbers don’t seem to be slowing down, and in some places, they are accelerating. Essentially, this means a return to normalcy is still a far-fetched idea until a viable vaccine is found.  Despite the mixed market sentiment, there are stocks that are outperforming the markets this morning. Most of the early morning gainers are stocks that have released strong quarterly results that point to their underlying fundamental strength. Some of the big performers this morning are as follows:

    DavidsTEA Inc [NASDAQ: DTEA]

    DavidsTEA is a big gainer this morning and is up by over 30%. This comes after the company released strong Q2 financial results. The company announced that e-commerce sales increased by 189.9%, while wholesale sales rose to $23 million.

    The company reported that its Q2 results were a reflection of a successful strategic shift towards digital-first. Commenting on the results, CFO Frank Zitella stated that the company was impressed with the spillover of Q1 growth into Q2 that led to a 25% growth in sales. He added that customers were responding well to the company’s online experience and that the current strategy would see the company return to profitability.

    IKONICS Corporation [NASDAQ: IKNX]

    IKONICS Corporation is another big gainer this morning after it released Q2 results for 2020. While revenues declined due to the COVID-19 pandemic, the company took decisive steps to protect liquidity, and grow as normalcy returns. This seems to have excited the market more than the drastic drop in revenues.

    NanoVibronix Inc [NASDAQ: NAOV]

    NanoVibronix Inc is a top performer this morning and is up by over 70% pre-market. This follows the company’s announcement that it had got FDA approval to introduce NanoVibronix UroShield® in the U.S. UroShield® is an ultrasound product that prevents bacteria buildup on urinary catheters.