NanoVibronix Inc. (NAOV) stock prices were up by 17.65% as of the market closing on October 11th, 2021. This brought the price per share up to USD$2.00 at the end of the trading day. Subsequent afterhours fluctuations have seen the stock dip by 5.51%, bringing it down to USD$1.89.
Positive Study Results
October 11th 2021 saw NAOV stock announce positive results from its clinical study of NanoVibronix PainShield. The randomized double-blind study was conducted at Birmingham Orthopedic and Sports Specialists in Birmingham, Alabama. The clinicians aimed to assess the safety and effectiveness of the NanoVibronix PainShield. Patients in the study were treated by an orthopedic surgeon for lateral epicondylitis, otherwise known as tennis elbow. The affliction results in a swelling or tearing of the tendons in the arm and is characterized by a pain or ache on the outside of the arm where the forearm meets the elbow.
Details of the Study
All of the patients in the study exhibited symptoms of pain and point tenderness at the onset of the study. These patients had been following customary treatment guidance, which failed to result in relief from the pain. The conclusion of the study reported 91% of the patients in the PainShield treatment group had complete or partial relief of symptoms. PainShield was used by patients in tandem with over the counter medication as needed, but without the benefit of opioid based prescription medication. These results consolidate the status of the treatment as safe, easy to use, and high effective in treating soft tissue pain.
NAOV Stock’s PainShield
PainShield is an ultrasound device that is designed to deliver a localized ultrasound effect. This serves to treat pain and induce soft tissue healing in a targeted area, while keeping the level of ultrasound energy at a safe and consistent level. The range of applications it offers includes acute and chronic pain resolution through its various mechanisms of action. The treatment can be used by patients at home or at work or in a clinical setting, even while the patient is asleep. Benefits include ease of application and use, faster recovery time, high compliance, and increased safety and efficacy over competing devices that rely on higher frequency ultrasound.
Future Outlook for NAOV Stock
The company reported a promising quarter, consolidated by the results from its clinical study of NanoVibronix. NAOV stock is keen to push for the accelerated development and commercialization of the treatment. Current and potential investors are hopeful that management will be able to effectively leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value over the long term.