STOCKS TELEGRAPH

Tag: NASDAQ: NNOX

  • Nanox Imaging Reports Surge After FDA Clearance for AI Software

    Nanox Imaging Ltd. (NASDAQ: NNOX) experienced a notable surge in its stock price today, following a robust trading day with a 6% climb and an even more remarkable 83% after-hours performance. The surge occurred subsequent to the company obtaining FDA clearance for its HealthFLD artificial intelligence (AI) software.

    Unlocking HealthFLD’s Potential

    This surge coincides with NNOX receiving 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its HealthFLD AI software. HealthFLD is tailored to provide automated qualitative and quantitative analysis of liver attenuation from routine chest and abdomen CT scans. This aids clinicians in identifying fatty liver, a significant indicator of metabolic dysfunction-associated steatotic liver disease (MASLD).

    Addressing an Ongoing Health Issue

    MASLD, formerly known as non-alcoholic fatty liver disease (NAFLD), affects around 24% of U.S. adults and is closely linked with obesity, cardiovascular disease, and type 2 diabetes. Timely diagnosis of MASLD is critical, as it can lead to severe liver complications if left untreated.

    Future Outlook and Collaborative Efforts

    The FDA clearance for HealthFLD represents a significant advancement in non-invasive diagnostic tools for liver-related diseases. NNOX’s CEO, Erez Meltzer, highlighted HealthFLD’s potential to facilitate the identification of candidates for clinical trials, particularly for metabolic diseases like MASLD and metabolic dysfunction-associated steatohepatitis (MASH).

    Investor Confidence and Strategic Partnerships

    The FDA’s endorsement underscores Nanox’s dedication to developing state-of-the-art AI solutions for population health management. HealthFLD’s clearance supplements Nanox’s existing suite of AI-powered solutions, including HealthCCSng and HealthOST.

    Moreover, the disclosure of Nvidia’s stake in NNOX has likely bolstered investor interest in the company.

    Conclusion

    The approval of HealthFLD represents a significant stride in combatting MASLD and related conditions. Nanox Imaging’s innovative technology holds promise for revolutionizing the diagnosis and management of liver diseases, offering potential improvements in patient outcomes and healthcare efficiency.

  • 3 Stocks Braving Market Selloff after Trump Tests Positive for COVID-19

    3 Stocks Braving Market Selloff after Trump Tests Positive for COVID-19

    Equity markets have fallen sharply today all over the world. In the U.S, key indices are all in the red pointing to a potentially weak close to the week. In pre-market trading, the NASDAQ is down by 2%, the S&P 500 by 1.55%, and the Dow Jones by 1.46%.

    This follows news that the U.S president had tested positive for COVID-19. The president announced via twitter that together with his wife, they had tested positive for the virus and that they had started quarantine. This has thrown the markets into a spin as it indicates just how serious and unrelenting the virus is. It is also noteworthy that the number of infections continues to rise globally, and some countries have returned to strict lockdown measures shortly after easing them up.

    The number of deaths continues to rise too and recently crossed the one million mark. This points to a prolonged period of a disrupted global economy that could remain unstable until a vaccine is found. The worst part is that the news of the president contracting the virus has come just weeks to an election after a highly emotive campaign. However, even as overall market momentum points to weakness, there are stocks that are braving the selloff and doing quite well. Some of the pre-market gainers that could outperform the market today are as below:

    Nano-X Imaging Ltd [NASDAQ: NNOX]

    Nano-X Imaging Ltd is quite strong pre-market and is up by over 25%. This follows news that the company would do a live demonstration of its new imaging system at the RSNA 2020, between November 29th and December 5th. The company’s demonstration will incorporate a tech section for the company’s first commercial digital X-Ray that would be followed by a demonstration of the system handling both 2D and 3D procedures. The CEO said that they were excited about the demonstration as it exposed the growing depth of the company’s technology.

    Xtant Medical Holdings [NYSE: XTNT]

    Xtant Medical Holdings Inc is another top performer this morning and is up by over 100% in performer this morning.  This follows the company’s announcement that it had completed its debt restructuring process. The company stated that the goal of the restructuring is to cut down on total debt and help the company access the capital markets for future growth.

    Lonestar Resources U.S Inc [NASDAQ: LONE]

    Lonestar Resources U.S Inc is another top gainer today and is up by over 100%. This comes despite a downgrade of the company by Moody’s to D-PD after it filed for bankruptcy.

  • Why Nano-X Imaging Ltd. (NASDAQ: NNOX) Stock Soared?

    Why Nano-X Imaging Ltd. (NASDAQ: NNOX) Stock Soared?

    Shares of Nano-X Imaging Ltd. (NASDAQ: NNOX) were up 32.87% as it has announced a partnership with South-Korean chipmaker SK Hynix Inc. to build machines that changed the century-old X-ray industry. Nano-X Imaging aimed to transform the medical devices industry which used the same old technology since the discovery of X-rays in the late-19th century.

    Nano-X Limited uses semiconductors instead of metal filaments in its devices to generate X-rays. The partnership with the largest chipmaker SK Hynix has provided an opportunity to Nano-X to bring new technologies. Nano-X has devices that produce less radiation and are cheaper. Nano-X devices will be able to disrupt the traditional system as they cannot only reduce radiation, improve images but also provide access for more patients.

    Nano-X has earlier signed an exclusive distribution agreement with SPI Medical for the deployment and introduction of Nanox’s medical imaging services in Mexico. Nanox will offer the Nanox Systems to SPI for pilots in the public and private sectors. This company has a unique technology and has a strong business model.

    Nano-X Imaging (NASDAQ: NNOX) shares went up 32.87% as it gained +15.88 during the trading session of Friday. Nano-X Imaging share price went from a low point around $20.25 to briefly over $49.25 in the past 52 weeks, though shares have since pulled back to $64.19. Nano-X market cap has remained high, hitting $2.23 billion at the time of writing. It has moved up 216.91% and 30.34% from its 52-weeks low and 52-weeks high, respectively.

    Nanox has a solution that has the ability to revolutionize the medical devices industry. Its new technology could reduce the cost of medical imaging systems and is striving to work with many organizations and companies to provide affordable technologies to customers. As the world lack access to diagnostic imaging, it has aimed to supply 4,500 units in various countries. It has also decided to join forces with the Foxconn Technology group for the mass production. It has also submitted applications to FDA for the approval.

    Nano-X Imaging has a vision called 1x1x1 aimed at establishing enough systems globally that every person on the planet has access to at least one medical imaging scan each year. Nanox is scheduled to participate in two upcoming investor conferences including Cantor Virtual Global Healthcare Conference and Jefferies Asia Forum on September 15 and September 16, respectively.