Shares of NanoVibronix experienced a significant surge following the release of positive results from independent testing of its UroShield ultrasound device.
In premarket trading, the stock rose by an impressive 64% to reach $2.38. It's worth noting that over the past 12 months, shares had previously fallen by 86% before this recent increase.
According to the chief executive, Brian Murphy, researchers at the University of Southampton conducted the testing and observed favorable outcomes when using the UroShield. These positive effects were witnessed in both laboratory settings and with actual patients.
The data collected from the research study demonstrated that the UroShield device had a positive impact on catheter-associated urinary tract infections and catheter blockage. Notably, around one-third of the patients involved in the study reported a reduction in the frequency of catheter blockages and the need for unscheduled catheter challenges.
Additionally, qualitative feedback received from the participants indicated their favorable opinions towards the UroShield. As per Murphy, it was reassuring to receive confirmation that the device was indeed having a positive effect.