Why Shares of Nano-X Are Soaring Wednesday
Shares of Nano-X Imaging (NASDAQ: NNOX) were up 10% Wednesday morning, a day after the stock fell below $17 for the first time since May 18. The healthcare company specializes in medical imaging equipment and systems and its shares are up more than 88% so far this year.
Nano-X had been surging ever since the company announced on May 1 that it had received clearance from the Food and Drug Administration (FDA) to market Nanox.ARC, including the Nanox.CLOUD, its accompanying cloud-based infrastructure, as a stationary X-ray system on adults. The device is a multi-source digital 3D tomosynthesis system that uses cold cathode X-ray tubes. The company intends to charge per scan for the system.
The company has attracted a lot of attention as a potential disruptor to standard X-rays, which have evolved little since they were discovered in 1895. The company said it intends to work with the FDA on other regulatory clearances for the Nanox.ARC.
Source Fool.com
