Full Press Release Details
Receives Extension to Satisfy Nasdaq Price Requirement
N.Y., October 19, 2022 - NanoVibronix, Inc., (NASDAQ: NAOV), a medical device company utilizing the Company's
proprietary and patented low intensity surface acoustic wave (SAW) technology, today announced that on October 17, 2022, a Nasdaq Hearings
Panel (the "Panel") granted the Company's request for continued listing on The Nasdaq Capital Market ("Nasdaq"),
subject to the Company's satisfaction of certain conditions, including the provision of an update to the Panel on December 15,
2022, regarding the Company's efforts to evidence compliance with the $1.00 bid price requirement for continued listing on Nasdaq.
Following the submission of such update, the Panel will consider the Company's request for a further extension. The Panel has the
authority to grant the Company an extension through February 23, 2023, in accordance with the Nasdaq Listing Rules.
set forth in the preliminary proxy statement filed by the Company with the Securities and Exchange Commission on October 13, 2022, at
the annual meeting to be held on December 15, 2022, the Company will seek shareholder approval for the implementation of a reverse stock
split if necessary and at the Board's discretion to regain compliance with Nasdaq's price requirement.
Inc. (NASDAQ: NAOV) is a medical device company headquartered in Elmsford, New York, with research and development in Nesher, Israel,
focused on developing medical devices utilizing its patented low intensity surface acoustic wave (SAW) technology. The proprietary technology
allows for the creation of low-frequency ultrasound waves that can be utilized for a variety of medical applications, including for disruption
of biofilms and bacterial colonization, as well as for pain relief. The devices can be administered at home without the assistance of
medical professionals. The Company's primary products include PainShield and UroShield , which are
portable devices suitable for administration at home without assistance of medical professionals. Additional information about NanoVibronix
is available at: www.nanovibronix.com.
press release contains "forward-looking statements." Such statements may be preceded by the words "intends,"
"may," "will," "plans," "expects," "anticipates," "projects,"
"predicts," "estimates," "aims," "believes," "hopes," "potential"
or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject
to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or
quantified; consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such
risks and uncertainties include, without limitation, risks and uncertainties associated with: (i) the geographic, social and economic
impact of COVID-19 on the Company's ability to conduct its business and raise capital in the future when needed, (ii) market acceptance
of our existing and new products or lengthy product delays in key markets; (iii) negative or unreliable clinical trial results; (iv)
inability to secure regulatory approvals for the sale of our products; (v) intense competition in the medical device industry from much
larger, multinational companies; (vi) product liability claims; (vii) product malfunctions; (viii) our limited manufacturing capabilities
and reliance on subcontractor assistance; (ix) insufficient or inadequate reimbursements by governmental and/or other third party payers
for our products; (x) our ability to successfully obtain and maintain intellectual property protection covering our products; (xi) legislative
or regulatory reform impacting the healthcare system in the U.S. or in foreign jurisdictions; (xii) our reliance on single suppliers
for certain product components, (xiii) the need to raise additional capital to meet our future business requirements and obligations,
given the fact that such capital may not be available, or may be costly, dilutive or difficult to obtain; (xiv) our conducting business
in foreign jurisdictions exposing us to additional challenges, such as foreign currency exchange rate fluctuations, logistical and communications
challenges, the burden and cost of compliance with foreign laws, and political and/or economic instabilities in specific jurisdictions;
and (xv) market and other conditions. More detailed information about the Company and the risk factors that may affect the realization
of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (SEC), including
the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read
these documents free of charge on the SEC's web site at: http://www.sec.gov. The Company assumes no obligation to publicly
update or revise its forward-looking statements as a result of new information, future events, or otherwise, except as required by law.
Maas, Managing Principal, Hayden IR, LLC