Shares of medical device company NanoVibronix (NASDAQ: NAOV) have exploded higher after the company announced that the FDA has permitted the company to distribute its UroShield device in the US.
The product is an ultrasound-based one that is designed to increase antibiotic efficacy.
NanoVibronix now has the go-ahead to import the UroShield product to the US during a time when demand is estimated to be elevated due to the coronavirus pandemic.
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“After reviewing the body of scientific evidence that we presented, the agency took decisive action to clear the way for patient access to UroShield for the duration of the Covid-19 pandemic,” said Brian Murphy, CEO of NanoVibronix.
He continued, stating that the “UroShield has been proven to be safe and cost-effective and has regulatory approval in a number of countries around the globe. Introduction to the U.S. market during the Covid-19 pandemic is a significant next step in reaching a critical mass of healthcare facilities and providers.”
NanoVibronix stock price…
Nanovibronix stock rallied after the news and is currently trading at $1.12, up 89% premarket on Tuesday after closing Monday’s session at $0.58 per share.
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