Shares of noninvasive biological response medical device maker NanoVibronix (NAOV) - Get NanoVibronix, Inc. Report jumped more than 30% in premarket trading Monday after the company was the subject of a positive report concerning its device for urinary tract infections.
The Elmsford, New York company was the subject of an article in the Journal of Medical & Surgical Urology due to "overwhelmingly positive" results from a study of patients that used its UroShield device in real world settings.
"As we would expect, the patient experiences in the study were statistically significant, with all responding patients reporting that our device was simple, easy to use and materially benefitted them," said CEO Brian Murphy.
Murphy added that the patient experiences were so positive that 100% said they were continuing to use the device following the conclusion of the study.
Shares of NanoVirbronix were up 30% to $3.39 early Monday after jumping nearly 250% in Friday's session.
More than 20 patients with reoccurring UTIs used UroShield for a minimum period of 12 weeks. Researchers at Coventry University concluded that Uroshield reduced the number of UTIs, catheter blockages and changes, and the need for antibiotics.
Patients reported that the device was easy to use with little or no pain experienced.