NanoVibronix (NASDAQ:NAOV) news for Tuesday includes approval from the U.S. Food and Drug Administration (FDA) sending NAOV stock soaring.
According to a NanoVibronix news release, the approval from the FDA concerns its UroShield medical device that previously wasn’t available in the U.S. With this approval the company can now start selling this device in the country.
NanoVibronix notes that the UroShield is a medical device meant to protect patients from bacterial colonization and biofilm. That basically breaks down to it helping prevent urinary tract infections. Its specific use is for patients that have catheters in place for long periods of time.
NanoVibronix says that the approval for UroShield will allow its device to be used in patients hospitalized due to the novel coronavirus. This will hopefully help patients as the device can ease the pain and discomfort that comes with a urinary catheter.
Brian Murphy, CEO of NanoVibronix, said this about the news boosting NAOV stock today.
“UroShield has been proven to be safe and cost-effective and has regulatory approval in a number of countries around the globe. Introduction to the U.S. market during the Covid-19 pandemic is a significant next step in reaching a critical mass of healthcare facilities and providers.”
The FDA made use of Enforcement Discretion to grant approval to NanoVibronix’s UroShield in the U.S.
NAOV stock was up 103.5%% when markets closed on Tuesday.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.