A NanoVibronix (NASDAQ:NAOV) alert for investors is in order Wednesday as the medical device company’s stock is skyrocketing higher.
The news behind this positive movement for NAOV stock has to do with its UroShield device. This is a medical device that makes use of the company’s low-intensity surface acoustic wave technology to protect against urinary tract infections (UTIs) and other similar issues.
The NanoVibronix alert is specifically tied to an independent analysis of UroShield by Coventry University’s Assistant Professor, Ksenija Maravic da Silva. This found that the device was effective at reducing UTIs, the need for antibiotics, catheter blockages, unplanned catheter changes, and pain from catheter complications.
NanoVibronix notes that the analysis took place over a two-year time period. During that time, it received much feedback from users concerning the device. It took this into consideration and improvements were made that are present in the current commercial version of UroShield.
Brian Murphy, CEO of NanoVibronix, said this about the news behind the NAOV stock alert.
“As part of our ongoing engagement, we submitted these findings to NICE as part of the process for attaining ‘official guidance’ from the organization, an important step in providing access to all NHS patients at risk of catheter associated urinary tract infections. We believe that these findings should also reinforce our efforts in the U.S. and other target markets.
NanoVibronix saw an initial boost in its shares when it announced approval to bring UroShield to the U.S. in September. The company said then that its intention was to use the devices in patients stuck in hospitals due to the novel coronavirus.
NAOV stock was up 132.8% as of Wednesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.