NanoVibronix Inc. (NAOV) stock plunged by 27.2% at the last close while the NAOV stock price fell by 8.42% in the after-hours trading session. NanoVibronix is a medical device business based in Elmsford, New York. The company has its research and innovation in Nesher, Israel. Its proprietary low intensity surface acoustic wave (SAW) technology is utilized to produce medical devices.
What’s up with NAOV stock?
The first order for NanoVibronix’s succeeding pain management gadget, PainShield Plus, has been fulfilled. The transaction is expected to generate income in the third quarter of 2021, according to the organization. When compared to the initial PainShield MD, PainShield Plus covers double the contact area for pain treatment and has a larger profit margin.
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Brian Murphy, Chief Executive Officer of NanoVibronix commented,
The patent-pending PainShield Plus has reached a key milestone with this first delivery. The gadget was released in late 2020 to a resoundingly good reaction from orthopedic and neurological patients as well as healthcare practitioners. Given the accomplishment of this initial shipment and increased engagement from wholesalers and prescribers, they are becoming increasingly enthusiastic about the potential for future market presence.
PainShield Plus same as the first PainShield, uses ultrasonic therapy for treating pain and soft tissue damage by placing it directly over joints or orthopedic hardware without the use of sticky ultrasound gels. The gadget is a useful tool for preventing opioid therapies since it allows patients to undergo therapy in the privacy and comfort of their own homes. A reusable driving unit and disposables make up the gadget. To produce a localized ultrasonic effect, this comprises a unique therapeutic transducer and cover adhesive.
Its goal is to relieve pain and stimulate soft tissue healing in a specific region while maintaining a safe and constant amount of ultrasound energy. Its numerous modes of action enable it to treat acute and chronic pain, and it may be in use by patients at homes, at work, or in a professional environment also it can be helpful while the patient is asleep. Easy application and usage, quicker recovery time, high compliance, and enhanced safety and effectiveness over existing devices that depend on higher-frequency ultrasound are all advantages for patients.