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TYLER, Texas - NanoVibronix, Inc. (NASDAQ: NAOV), a medical technology company with a market capitalization of $2.69 million, announced the immediate retirement of its CEO Brian Murphy and the appointment of Doron Besser, previously CEO of ENvue Medical Holdings, LLC, as the new CEO. The change in leadership follows the company’s acquisition of ENvue, a provider of innovative enteral feeding solutions, on February 14, 2025. According to InvestingPro data, the company’s stock has seen significant volatility, with a 21.55% gain in the past week despite an 88% decline over the past year.
The transition is expected to foster growth and operational synergies within the global medical device market. Murphy will continue to serve on the Board of Directors, ensuring governance continuity. Christopher Fashek, Chairman of the Board, expressed gratitude for Murphy’s contributions to NanoVibronix’s product innovation and market expansion. InvestingPro analysis reveals several challenges facing the new leadership, including a concerning current ratio of 0.47 and significant cash burn rate. Get access to 14 additional exclusive ProTips and comprehensive financial metrics with InvestingPro.
Besser steps into his new role with optimism, aiming to leverage the recent acquisition to enhance the company’s product portfolio and create value for stockholders. He plans to maintain the legacy of innovation and success at NanoVibronix.
NanoVibronix focuses on non-invasive and minimally invasive solutions for clinical and home care settings, with technologies such as PainShield® and UroShield®, which use low-intensity surface acoustic wave technology. The company also operates the ENvue Navigation Platform, a minimally invasive electromagnetic navigation system for feeding tube placement, which is FDA 510(k) cleared for adult use.
The Board of Directors reaffirmed its commitment to advancing the strategic vision of the company and maximizing the potential of its product offerings. NanoVibronix will continue to commercialize its technologies and develop new medical solutions.
This leadership transition and the acquisition are part of NanoVibronix’s forward-looking statements, which involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected. These include market acceptance of new products, clinical performance, competition, product liability, manufacturing capabilities, reimbursement limitations, intellectual property protection, regulatory changes, and the need for additional capital. Financial metrics from InvestingPro highlight these challenges, with revenue of $2.66 million in the last twelve months and a gross profit margin of 45.57%, while operating at a loss with negative EBITDA of $4.85 million.
Investors are urged to consider these factors and refer to NanoVibronix’s filings with the SEC for more detailed information. The company does not undertake any obligation to update forward-looking statements, except as required by law.
This article is based on a press release statement from NanoVibronix, Inc.
In other recent news, NanoVibronix, Inc. announced the pricing of a public offering expected to raise approximately $10 million before fees and expenses. This offering includes shares of Series G Convertible Preferred Stock and Warrants, with the closing anticipated around May 19, 2025. In addition, NanoVibronix has regained compliance with Nasdaq’s continued listing requirements, effectively closing previous delisting concerns. The company will remain under a Mandatory Panel Monitor until April 2026. NanoVibronix also announced a $360,000 promissory note agreement with Alpha Capital Anstalt, due in June 2025, which bears an 8.0% annual interest rate. Furthermore, NanoVibronix clarified that it is not proceeding with a $26 million stock offering, as falsely reported by unauthorized sources, and is investigating the origin of this misinformation. In corporate governance news, Aurora Cassirer has resigned from the board of directors, a decision attributed to personal reasons and not due to any disagreements with the company. These developments are part of NanoVibronix’s ongoing efforts to maintain transparency and compliance in its financial and operational activities.
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