Nanovibronix Inc Stock Price, News & Analysis

NanoVibronix, Inc. (NASDAQ: NAOV) declared a dividend of one one-thousandth of a share of Series F Preferred Stock for each common stock share held by record holders as of 5:00 p.m. ET on October 14, 2022. Distribution will occur on October 17, 2022. The Series F Preferred Stock provides significant voting rights, particularly concerning a potential reverse stock split. Absent stockholder presence during voting will result in automatic redemption of unrepresented shares.

NanoVibronix, Inc. (NASDAQ: NAOV) announced that it received a notice from Nasdaq on August 30, 2022, regarding its non-compliance with the minimum bid price requirement, effective as of August 29, 2022. The company must request a hearing to avoid delisting, which it plans to do. This action will temporarily halt further measures from Nasdaq until the hearing concludes. NanoVibronix develops medical devices utilizing proprietary surface acoustic wave technology aimed at various medical applications, including pain relief.

NanoVibronix, Inc. (NASDAQ: NAOV) has announced a 53% year-over-year growth in Q2 and is making strides in commercializing its PainShield and UroShield medical devices. Sales to VA facilities are increasing despite some administrative challenges. The company submitted a 510(k) application for PainShield MD Plus and is optimistic about FDA approval, which could boost revenue. Efforts for CMS reimbursement codes are ongoing. With a shift in manufacturing to Singapore for efficiency, NanoVibronix aims to enhance its product distribution and market presence.

NanoVibronix, Inc. (NASDAQ: NAOV) announces a series of educational webinars in Australia, led by distributor DukeHill HC, to promote its UroShield technology to healthcare professionals. The webinars, scheduled for July 21, August 4, and August 18, 2022, aim to enhance product awareness and drive sales. Participants will hear case studies and testimonials, helping clinicians understand the benefits and applications of UroShield. Additionally, DukeHill will initiate a social media campaign following the webinars to further enhance product visibility.

NanoVibronix, Inc (NASDAQ: NAOV) is transitioning the majority of its manufacturing operations to Singapore to enhance efficiency and scalability while mitigating supply chain risks. CEO Brian Murphy emphasized the importance of building a resilient supply chain amidst a backlog of orders. This move is expected to be completed within the next few months and aims to streamline operations and address production bottlenecks. The company remains optimistic about growth prospects and innovation opportunities, aiming for improved product delivery by the end of 2022 and into 2023.

NanoVibronix, Inc. (NASDAQ: NAOV) reported a significant revenue increase of 164% in Q1 2022, totaling $272,000 compared to $103,000 in Q1 2021. The company has a strong backlog of orders and expects supply chain challenges to ease in H2 2022. Key developments include the submission of a 510(k) application for PainShield® MD PLUS and regulatory approvals for UroShield and PainGuard. The company reported a net loss of $1.1 million but holds $6.0 million in cash with no long-term debt, indicating a solid financial position.

NanoVibronix, Inc. (NASDAQ: NAOV) has submitted a 510(k) application to the U.S. FDA for its PainShield® MD PLUS, a dual-actuator ultrasound pain therapy device. CEO Brian Murphy emphasized that this submission is a significant step towards the full commercialization of the product, aimed at providing a non-drug solution for pain treatment. The device is designed for home use without messy gels and is built on a proven mechanism, having the potential to improve recovery times and patient compliance.

NanoVibronix, Inc. (NASDAQ: NAOV) announced the addition of its PainShield Plus and PainShield Monthly Kit to the Federal Supply Schedule, expanding access for veterans to non-opioid pain therapy products. This move joins the existing UroShield and PainShield MD devices, enhancing treatment options available to veterans while addressing the opioid crisis.

The PainShield Plus offers ultrasound therapy for pain management without gels, promoting safety and ease of use at home, allowing for faster recovery and higher patient compliance.

NanoVibronix, Inc. (NASDAQ: NAOV) has received positive guidance from the National Institute for Health and Care Excellence (NICE) regarding its UroShield® device. The guidance highlights UroShield's potential to prevent catheter-associated urinary tract infections (UTIs), suggesting further UK-based research to confirm its benefits. NICE's cost analysis indicates that UroShield could save costs in healthcare settings, warranting its use among NHS patients. This publication is a crucial step toward achieving NHS approval for UroShield's wider application.