NanoVibronix Provides Business Update for the First Quarter 2018
May 17 2018 - 8:44AM
NanoVibronix, Inc, (NASDAQ:NAOV)
,
a medical device company utilizing the Company's proprietary and
patented low intensity surface acoustic wave (SAW) technology,
today provided a business update for the first quarter of 2018.
Brian Murphy, Chief Executive Officer of
NanoVibronix, commented, "We are making rapid progress executing on
our commercial strategy. Most recently, we announced the
expansion of our distribution network, including a key partnership
with Fabrication Enterprises, Inc., to market and distribute
PainShield® in the U.S. Fabrication Enterprises is a leading
distributor in the sports medicine, sports trainer, and physical
therapy markets. We entered into a similar agreement with a large
global medical device distributor that intends to target multiple
segments of the sports injury market. Aside from these distribution
agreements, we are getting strong support from a number of
professional athletes who have experienced the benefits of
PainShield first hand and have publicly endorsed the product. Given
the broad range of pain-related indications our product addresses,
we also believe the device may help patients reduce their need for
opioids.”
“In regard to UroShield™, we recently announced
that we signed Instrumed Surgical of Mississauga, Ontario, Canada
as our exclusive distributor for UroShield™ in Canada. This
agreement follows our recent announcement of a UK distributor, and
we look forward to announcing a number of similar agreements around
the world as we execute our global roll-out strategy.
Overall, we are seeing strong interest in UroShield, not only from
distributors, but also physicians, hospitals and payors as
catheter-associated urinary tract infections (CAUTI) is a major
cause of patient mortality that is estimated to result in over
13,000 deaths per year in the U.S. alone.”
“Overall, we remain encouraged by the outlook
for the business. Final results from both the UroShield and
PainShield studies are expected to be ready for submission to a
peer-reviewed journal in the second quarter of 2018, which should
help drive awareness and adoption for these products. We also
continue to work toward several regulatory milestones, which will
be a centerpiece of our commercialization strategy. Additionally,
we have been fortunate in attracting sales and marketing talent
that will help drive the strategy both in the Americas and
abroad. Collectively, the key components of our strategy are
falling into place and we are gaining traction in each of our
respective markets.”
The Company’s filed its Form 10-Q on May 15, 2018, which is
available on the Company’s website www.nanovibronix.com.
About NanoVibronix
NanoVibronix Inc. (NASDAQ:NAOV) is a medical device company
headquartered in Elmsford, NY with research and development in
Nesher, Israel, that is focused on developing medical devices
utilizing its proprietary and patented low intensity surface
acoustic wave technology. The company's technology allows for the
creation of low-frequency ultrasound waves that can be utilized for
a variety of medical applications, including the disruption of
biofilms and bacteria colonization, as well as providing pain
relief. The devices can be administered at home, without the
assistance of medical professionals. The company's primary products
include PainShield, UroShield and WoundShield. Additional
information about the company is available at:
www.nanovibronix.com.
Investor Contact:Crescendo
Communicationsnaov@crescendo-ir.com212-671-1021
Forward-looking Statements
This press release contains “forward-looking statements.” Such
statements may be preceded by the words “intends,” “may,” “will,”
“plans,” “expects,” “anticipates,” “projects,” “predicts,”
“estimates,” “aims,” “believes,” “hopes,” “potential” or similar
words. Forward-looking statements are not guarantees of future
performance, are based on certain assumptions and are subject to
various known and unknown risks and uncertainties, many of which
are beyond the Company’s control, and cannot be predicted or
quantified and consequently, actual results may differ materially
from those expressed or implied by such forward-looking statements.
Such risks and uncertainties include, without limitation, risks and
uncertainties associated with (i) market acceptance of our existing
and new products, (ii) negative clinical trial results or lengthy
product delays in key markets, (iii) an inability to secure
regulatory approvals for the sale of our products, (iv) intense
competition in the medical device industry from much larger,
multinational companies, (v) product liability claims, (vi) product
malfunctions, (vii) our limited manufacturing capabilities and
reliance on subcontractors for assistance, (viii) insufficient or
inadequate reimbursement by governmental and other third party
payers for our products, (ix) our efforts to successfully obtain
and maintain intellectual property protection covering our
products, which may not be successful, (x) legislative or
regulatory reform of the healthcare system in both the U.S. and
foreign jurisdictions, (xi) our reliance on single suppliers for
certain product components, (xii) the fact that we will need to
raise additional capital to meet our business requirements in the
future and that such capital raising may be costly, dilutive or
difficult to obtain and (xiii) the fact that we conduct business in
multiple foreign jurisdictions, exposing us to foreign currency
exchange rate fluctuations, logistical and communications
challenges, burdens and costs of compliance with foreign laws and
political and economic instability in each jurisdiction. More
detailed information about the Company and the risk factors that
may affect the realization of forward looking statements is set
forth in the Company’s filings with the Securities and Exchange
Commission (SEC), including the Company’s Annual Report on Form
10-K and its Quarterly Reports on Form 10-Q. Investors and security
holders are urged to read these documents free of charge on the
SEC’s web site at http://www.sec.gov. The Company assumes no
obligation to publicly update or revise its forward-looking
statements as a result of new information, future events or
otherwise.
NanoVibronix (NASDAQ:NAOV)
Historical Stock Chart
From Apr 2024 to May 2024
NanoVibronix (NASDAQ:NAOV)
Historical Stock Chart
From May 2023 to May 2024