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The Israeli company has promised a revolution in medical imaging but its market cap has slumped from $3.5 billion to $560 million, as investors begin to doubt whether it can deliver. ....
NANO-X wins FDA clearance for single-source digital x-ray The Israeli company remains on track and expects to submit an application to the FDA for its multi-source Nanox.ARC and the Nanox.CLOUD in 2021. Israeli medical imaging technology company NANO-X Imaging Ltd. (Nasdaq: NNOX) has announced that its single-source Nanox.ARC digital x-ray technology has received clearance from the US Food and Drug Administration (FDA). NANO-X chairman and CEO Ran Poliakine said, Obtaining 510(k) clearance from the FDA for our single-source Nanox.ARC digital x-ray is a significant step forward along our US regulatory pathway. We remain on track to commence system shipments in the fourth quarter of 2021 and the first quarter of 2022 with the goal of finalizing deployment of the initial 15,000 Nanox.ARC systems by the end of 2024. ....
Nanox Medical Imaging prices secondary offering Investors in the Israeli medical device company are offering to sell sharers worth $193 million. Israeli medical device company Nanox Imaging Ltd. (Nasdaq: NNOX) has priced a secondary public offering of 3,091,635 at $62.50 per share to raise $193.2 million. Following the announcement, the company s share price fell 10.28% on Nasdaq yesterday to $73.54, giving a market cap of $3.4 billion. The share price has more than quadrupled since the company held its IPO in August at a company valuation of $800 million and with the previous shareholders stakes now unblocked some shareholders are cashing in. Nanox stressed that it is not selling any new shares and will not receive any proceeds from the sale of its shares, which are being offered by the selling shareholders. ....