Nanovibronix Inc Stock Price, News & Analysis

NanoVibronix, Inc (NASDAQ: NAOV) reflects on 2020 successes and sets a promising outlook for 2021 in a recent shareholder letter. The company enhanced its product portfolio, secured a distribution agreement with Ultra Pain Products, and raised approximately $11.2 million in capital. Notably, the FDA allowed the distribution of its UroShield device during the pandemic, addressing urinary tract infections in COVID-19 patients. With a stronger financial position and expanded manufacturing capabilities, NanoVibronix aims for notable growth in 2021.

NanoVibronix, Inc. (NASDAQ: NAOV) has announced the expansion and replacement of its distribution agreement with Ultra Pain Products, Inc. (UPPI). This new exclusive agreement allows UPPI to distribute PainShield® and PainShield® Plus devices in the Durable Medical Equipment (DME) sector, significantly increasing the revenue target from $1.1 million to $7.8 million over three years. The updated PainShield products provide opioid-free pain relief and can be used at home, aligning with the rising demand for at-home treatment solutions during the COVID-19 pandemic.

NanoVibronix, Inc. (NASDAQ: NAOV) has successfully completed a private placement of 8,571,429 shares of common stock at $0.70 per share, generating approximately $6.0 million in gross proceeds. The funds raised will be used for general corporate purposes. H.C. Wainwright & Co., LLC acted as the sole placement agent. The securities were sold in a transaction not involving a public offering and are subject to registration requirements under the Securities Act. The company aims to file a registration statement with the SEC by December 12, 2020.

NanoVibronix, Inc. (NASDAQ: NAOV) announced a $6.0 million private placement through the issuance of 8,571,429 shares at $0.70 each. This financing is aimed at general corporate purposes and is expected to close around December 4, 2020. The company is required to file an initial registration statement with the SEC within 10 days and to make best efforts to have it declared effective within 90 days. This offering is not a public sale and lacks registration under applicable securities laws.

NanoVibronix, Inc. (NASDAQ: NAOV) announced positive findings from an independent evaluation of its UroShield® device, utilized by patients for up to two years. Highlights include significant reductions in urinary tract infections, catheter changes, and pain, leading to improved patient well-being. The results have been submitted to NICE for review, with CEO Brian Murphy emphasizing the importance of this guidance for NHS patients. The study, conducted by Coventry University, noted enhanced social engagement and mental health improvements for users. These findings support NanoVibronix's commercialization efforts.

NanoVibronix, Inc. (NASDAQ: NAOV) reported a significant 49% revenue increase to $150,000 for Q3 2020, driven by expanded sales and distribution agreements. The company received FDA authorization for its UroShield and secured reimbursement from Medicare for PainShield. Operating expenses rose to $903,000 due to increased marketing efforts. The net loss widened to $(922,000) or $(0.10) per share. The company strengthened its balance sheet with $4.1 million in net proceeds from stock offerings, enhancing its operational capacity despite ongoing pandemic challenges.

NanoVibronix, Inc. (NASDAQ: NAOV) has launched PainShield Plus®, an advanced ultrasound pain management device enhancing treatment efficiency for multiple pain areas. This device adds a second adhesive patch and transducer, doubling the treatment surface to approximately 40 cm². The PainShield Plus is designed to minimize opioid usage and can be used by patients in home settings, promoting safety and comfort. Initial feedback from healthcare providers and patients has been positive, indicating potential for broader distribution.

NanoVibronix, Inc. (NASDAQ: NAOV) has filed a U.S. patent application for a new transdermal patch designed to deliver therapeutic agents, including cannabidiol (CBD), in combination with ultrasound technology from its PainShield® device. The innovation aims to enhance drug delivery and absorption, particularly for pain relief and anti-inflammatory effects. CEO Brian Murphy highlighted the potential benefits of this technology in providing alternative pain management solutions. The company aims to expand its patent portfolio and leverage its Surface Acoustic Wave technology for future growth.

NanoVibronix, Inc. (NASDAQ: NAOV) announced an increase in its public offering of common stock to 1,794,783 shares, priced at $1.00 each, due to strong demand. The offering is expected to close around September 25, 2020, raising approximately $1.8 million in gross proceeds before expenses. The funds will be used for working capital, including transitioning manufacturing from China to the U.S. and purchasing inventory. H.C. Wainwright & Co. is the sole book-running manager for this offering.