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NanoVibronix Inc. (NAOV) stock rises in after-hour trading. Why is it so?

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NanoVibronix Inc. (NAOV) stock rises by 7.84% in the after-hour trading session while there is no recent news available related to this gain in NAOV stock price. NanoVibronix is a medical device company specializing in the development of medical devices based on its innovative low intensity surface acoustic wave technology. This technology enables the development of low-frequency ultrasound waves for a range of medical applications, including the disruption of biofilms and bacteria invasion, as well as pain management.

Recent Important Events

On March 31, NAOV stock announced their Special Meeting of Stockholders, which was scheduled for March 31, 2021, that it has got postponed in order to give stockholders more time to vote. The meeting is set to take place again on April 14, 2021. NAOV would continue to receive proxies from its stockholders for the resolutions set out in the Company’s proxy statement throughout the time of postponement. Until properly repealed, proxies previously submitted in relation to the Special Meeting will be voted on at the reconvened meeting. All stockholders who have not yet voted are encouraged to do so before April 13, 2021.

Also on March 2, 2021, NAOV revealed that through a service disabled veteran group, NAOV’s UroShield urology therapy device has been added to the Federal Supply Schedule, making it possible for Veterans being handled by the Veterans Administration to obtain and use the UroShield.

The PainShield, NanoVibronix’s other patented product, was put on the Federal Supply Schedule on September 1, 2019, ensuring veterans’ access to non-opioid pain treatment. Veterans who have indwelling Foley catheters will now get UroShield which is a medication to prevent Catheter-Associated Urinary Tract Infections.

Conclusion

The postponement of Special Meeting of Stockholders could be the possible reason for this change in NAOV stock price since the meeting has yet to happen. Until the meeting takes place, we will probably witness the NAOV stock to vary quite a few time. The investors would also be looking forward to the final result of this meeting.

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