NanoVibronix Inc. (NAOV) shares surged 17.80% in after-hours on Wednesday, July 28, 2021, and closed the daily trading at $2.25 per share. Earlier in the regular trading session, NAOV’s stock gained 29.93%. NAOV shares have risen 23.23% over the last 12 months, and they have moved up by 138.90% in the past week. Over the past three months, the stock has gained 80.19%, while over the past six months, it has shed 61.86%.

Let’s see is there any reason behind its massive surge on Wednesday?

NAOV Shipped First Order of PainShield Plus

On July 26, 2021, NanoVibronix, Inc (NAOV) fulfilled the first order of its next-generation pain management device, PainShield Plus®, and expects to recognize revenue for the sale in the third quarter of 2021.

PainShield Plus covers two times the surface area for pain therapy and is sold at a higher gross margin compared to the original PainShield® MD.

PainShield Plus utilizes ultrasound therapy for the treatment of pain and various soft tissue injuries either directly over joints or orthopedic hardware. The device is an effective solution for avoiding opioid treatments and equips patients to receive therapy independently in the comfort and safety of their own homes.

Positive findings of NAOV UroShield

On July 22, 2021, The Journal of Medical & Surgical Urology published an article with overwhelmingly positive findings from a study of patients that used its UroShield in real-world settings.

The Chief Executive Officer of NAOV, Brian Murphy said that the independent study is further proof of the effectiveness and applicability of the company’s UroShield device in reducing the incidence of urinary tract infections and pain and discomfort caused by urinary catheters.

23 patients participated in the study and used UroShield for a minimum period of 12 weeks. patients reported a significant decrease in the number of UTIs and antibiotic treatment, had fewer catheter blockages and catheter changes and the pain was reduced significantly by the end of the study.

NAOV Business update

On June 03, 2021, NanoVibronix, Inc (NAOV)  provided an update on its business.

• The company launched the next generation of its PainShield device at the end of 2020, which extends the functionality of its core product and broadens the opportunities for application. Delivery of the first devices is expected to be in Q2 2021.
• The company also expanded and replaced its original distribution agreement with Ultra Pain Products, to extend the term and increase minimum purchase requirements. UPPI is the exclusive distributor of PainShield® and PainShield® Plus™ devices to the Durable Medical Equipment (“DME”) distribution sector of the healthcare market in the United States.
• The company is establishing manufacturing capabilities both in the United States and Israel that will run parallel to its existing manufacturing operations located in Asia.

Conclusion

The NAOV stock is surging because of recent positive developments and we expect it to surge more in the coming days.