NanoVibronix Replaces CEO, Retail Believes This Was Only A ‘Starter’

Medical technology company NanoVibronix, Inc. (NAOV) on Wednesday announced the retirement of Brian Murphy as CEO, effective immediately.

The company announced that its board has appointed Doron Besser as the new chief executive, effective immediately. Besser is CEO of ENvue Medical Holdings, LLC, a wholly-owned subsidiary of NanoVibronix.

Murphy, meanwhile, will remain on the company’s board as a director.

NanoVibronix completed its acquisition of ENvue in February. Before that, ENvue was privately held and developed tube feeding solutions.

Besser said that he believes the company is “well-positioned” to capitalize on new market opportunities and enhance its product portfolio following the combination of NanoVibronix and ENvue.

Texas-based NanoVibronix develops both non-invasive and minimally invasive solutions for use in both clinical and home care settings. The company said on Wednesday that it will focus on the full-scale commercialization of existing technologies while developing new solutions.

The company regained full compliance with Nasdaq’s listing requirements in April after announcing a reverse stock split to improve the stock price. Last month, the company also completed a $10 million public offering of preferred stocks and warrants.

On Stocktwits, retail sentiment around NanoVibronix stayed unmoved within ‘extremely bullish’ territory over the past 24 hours while message volume was at ‘extremely high’ levels.

A Stocktwits user expressed disappointment over the stock’s lack of reaction on Wednesday.

Meanwhile, another opined that the CEO transition update was just the beginning.
https://stocktwits.com/pakman197/message/616800172

NAOV stock is down by 85% this year and by about 88% over the past 12 months.

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