Nanovibronix Inc Stock Price, News & Analysis

NanoVibronix, Inc. (NASDAQ: NAOV) held its 2022 annual stockholder meeting virtually, where several resolutions were passed. The Board of Directors now consists of eight members for a one-year term. A significant resolution passed allowing a reverse stock split of shares at a ratio between 1-for-2 and 1-for-50. Additionally, the 2014 Long-Term Incentive Plan was amended to increase the number of shares reserved by 1,518,000 shares. However, proposals to classify the Board and increase authorized shares were rejected.

NanoVibronix, Inc. (NASDAQ: NAOV) has partnered with Peak Medical, Ltd. to enhance distribution capabilities for its continence care products in the UK. This collaboration follows NHS Supply Chain Approval, allowing Peak Medical to sell the UroShield device, aimed at reducing risks associated with Catheter Associated Urinary Tract Infections (CAUTIs). With strong demand from the National Health Service, the partnership is expected to boost product uptake and improve patient care.

NanoVibronix, Inc. (NASDAQ: NAOV) has successfully completed a registered direct offering, selling 4,800,000 shares at $0.50 each, generating gross proceeds of $2.4 million. The funds will be utilized for general working capital purposes. The offering was facilitated by H.C. Wainwright & Co. under a shelf registration statement. This transaction allows the company to enhance its financial flexibility and continue developing its proprietary surface acoustic wave technology for medical applications. The offer was conducted under SEC regulations.

NanoVibronix, Inc. (NASDAQ: NAOV) has announced a securities purchase agreement with institutional investors for a registered direct offering of 4,800,000 shares at $0.50 each, expected to close around December 1, 2022. The offering aims to generate gross proceeds of $2.4 million, which will be utilized for general working capital purposes. H.C. Wainwright & Co. is the exclusive placement agent for the offering, which is conducted under an effective shelf registration statement with the SEC.

NanoVibronix, Inc. (NASDAQ: NAOV) has achieved a significant milestone by securing FDA 510(k) clearance for its PainShield® MD PLUS, an advanced dual-actuator ultrasound pain therapy device. This approval enhances the device's treatment coverage and opens avenues for future product submissions, including an Over-The-Counter variant, PainShield Relief. The PainShield Plus allows patients to receive ultrasound therapy conveniently at home, addressing chronic pain without opioids, thus expanding the company's product offerings in a growing market for non-pharmaceutical options.

NanoVibronix, Inc. (NASDAQ: NAOV) announced positive interim results from its U.K. clinical study for the UroShield device, conducted by The University of Southampton. Initial findings indicate beneficial effects on patients, showing changes in microbial diversity, fewer catheter blockages, and reduced infections. This study, initiated in April 2021, is pivotal for obtaining FDA clearance for UroShield. The company is optimistic about future expansions in the U.K. market and aims to ramp up production for U.S. distribution.

NanoVibronix, Inc. (NASDAQ: NAOV) provided a business update focused on scaling operations and regulatory progress. With over 90% of sales coming from U.S. distributors, the company is enhancing its presence in the Workers' Compensation and Veterans' Administration sectors. Manufacturing has shifted to Singapore to mitigate supply chain risks. Regulatory efforts continue for PainShield, which has received a reimbursement code, and PainShield Plus is awaiting FDA approval. International partnerships are in negotiation to expand UroShield distribution. Challenges include delays in approvals but management remains optimistic about future revenue growth.

On October 17, 2022, NanoVibronix, Inc. (NASDAQ: NAOV) received a continued listing grant from the Nasdaq Hearings Panel, subject to conditions including a compliance update by December 15, 2022, regarding the $1.00 bid price requirement. The Panel may extend the compliance period until February 23, 2023. Additionally, the Company plans to seek shareholder approval for a potential reverse stock split at the annual meeting on December 15, 2022, to regain compliance. NanoVibronix specializes in medical devices using patented surface acoustic wave technology for various health applications.

NanoVibronix, Inc. (NASDAQ: NAOV) announced that its UroShield device has received approval for sale across the U.K. through the NHS Supply Chain. This contract will enhance distribution, making UroShield available to NHS healthcare providers and patients, thereby improving clinical support. The contract starts in October 2022 and merges with an existing contract in February 2024. UroShield aims to reduce catheter-associated urinary tract infections, enhancing patient outcomes and reducing healthcare costs.