The shares of medical device manufacturer NanoVibronix (NAOV) have been surging in price lately due to a positive independent review of its UroShield devices. However, given the company’s bleak profit margins and stretched valuation, will NAOV be able to maintain its momentum? Read more to find out.Medical device equipment manufacturer NanoVibronix, Inc. (NAOV) in Elmsford, N.Y., has been gaining momentum lately, driven by positive news regarding the efficacy of its product UroShield.
The stock has gained 232.5% in price since the release of this news on July 22 to close yesterday’s trading session at $2.66. It hit its 52-week high of $4.19 on August 17. In addition, NAOV has gained 219.3% over the past three months and 248.2% year-to-date.
On July 22, NAOV announced that The Journal of Medical and Surgical Urology is in the process of publishing an article containing the overwhelmingly positive findings from a real-world study demonstrating the efficacy of UroShield for treating UTI infections. Regarding this, NAOV CEO Brian Murphy said, “As we would expect, the patient experiences in the study were statistically significant, with all responding patients reporting that our device was simple, easy to use and materially benefitted them. The patient experiences were so profoundly positive that 100% of the study’s participants are continuing to use the device following the conclusion of the study.”