NanoVibronics Inc (NASDAQ: NAOV) stock has prevailed in the market nowadays. The NAOV stock price has taken an upswing by 221.46℅ the previous week. It climbed up to $0.82 from July 22 to $2.41at the last check. Moreover, displays a high market price change of 26.18% at the recent close.NAOV is higher by $2.41 from the previous closing price of $1.94 on the volume of 220221008 shares. Over the past half-year, NAOV stocks price is elevated by 107.76%.
Why NAOV has taken a Surge
NAOV is a medical company that manufactures UroShield and PainShield Surface Acousticc Wave (SAW) Portable Ultrasonic Therapeutic Devices. It develops noninvasive biological response-activating tools that target biofilm deterrence, pain therapy, and damage recovery.
Investors have been responding positively to the stock. The company affirmed that it has fulfilled the first order of its next-generation pain management machine called PainShield plus. Also, it is expecting to reach high revenue in the third quarter of 2021.
The specialty of PainShield Plus is that it covers two times the surface area of pain therapy. Resultantly, it is sold at a higher gross margin when compared to the original Pain Shield MD. This device is also beneficial in preventing opioid therapies and equips patients to acquire treatment independently in the convenience and protection of their own houses.
NAOV’sdealings with Authority
The company on 29 July has disclosed that it has allotted a license by Therapeutic Goods Administration (TGA), The Australian Regulatory body for Therapeutics, for its UroShield, to be used by patients in Australia. Additionally, the company proclaimed that it has signed a treaty with DukeHill Healthcare Pty Ltd (DukeHill HC) to distribute the Company’s UroShield and PainShield technologies all around Australia. These deals are tangible milestones towards the commercialization of the products. Hence, holding up the stock’s price to gain significantly.