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TYLER, Texas - NanoVibronix, Inc. (NASDAQ:NAOV), a micro-cap medical device company with a current market capitalization of $2.1 million and trading at $0.81 per share, announced Wednesday it has been granted a new U.S. patent for its pediatric feeding tube guidance system through its ENvue Medical Holdings division.
The patent (No. 12,324,632), titled "Insertion Device Positioning Guidance System," covers technology designed to assist clinicians in guiding feeding tube insertion in pediatric patients by providing real-time navigational data during placement.
According to the company, approximately 400,000 preterm infants and additional pediatric patients in intensive care, surgical recovery, and chronic care undergo feeding tube placement annually in the United States. These procedures represent a market opportunity of more than $150 million annually in capital systems and disposables. For context, NanoVibronix currently generates annual revenue of $2.66 million with a gross profit margin of 45.57%.
"We believe the addressable market for our pediatric navigation platform is substantial," said Dr. Doron Besser, CEO of NanoVibronix. According to InvestingPro analysis, while the company is currently not profitable, its stock appears undervalued based on Fair Value calculations. InvestingPro subscribers have access to 16 additional investment tips for NAOV.
The ENvue system uses electromagnetic tracking to visualize and confirm feeding tube position in real time without relying on blind placement or repeated X-rays. The company is preparing to pursue FDA 510(k) clearance for pediatric use of the system, which is currently only cleared for adult patients.
NanoVibronix’s technology portfolio also includes acoustic-based therapeutic devices like PainShield and UroShield, which utilize low-intensity surface acoustic wave technology for pain treatment and bacterial biofilm disruption. For detailed financial analysis and real-time updates on NAOV’s performance metrics, visit InvestingPro.
The announcement was made in a press release issued by the company.
In other recent news, NanoVibronix, Inc. announced the appointment of Doron Besser as its new CEO following the acquisition of ENvue Medical Holdings. This leadership change aims to leverage the acquisition to enhance the company’s product offerings. In a separate development, NanoVibronix clarified that it is not proceeding with a $26 million stock offering, countering false claims disseminated by unauthorized sources. The company is investigating these misleading reports to maintain its reputation and protect its investors. Furthermore, NanoVibronix set terms for a $10 million public offering, involving Series G Convertible Preferred Stock and Warrants, managed by Dawson James Securities, Inc. The proceeds will be used to address outstanding financial obligations and for general corporate purposes. Additionally, the company regained compliance with Nasdaq’s listing requirements, securing its position on the Nasdaq Capital Market. This compliance comes after addressing previous concerns related to minimum bid price and stockholders’ equity. Lastly, NanoVibronix’s subsidiary, ENvue Medical Holdings, secured a $360,000 promissory note with Alpha Capital Anstalt, further stabilizing its financial operations.
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