The medical device manufacturer Nano-X Imaging Ltd. (NNOX) went public in August this year. Since then the company’s reviews have been somewhat inconsistent, and in a short period of time, stocks have increased and dropped many times. Investor disputes are caused by Nano-X Imaging’s proposed x-ray examination technology; many experts doubt its accuracy. To dispel the suspicions of skeptics, the company successfully demonstrated its advanced progress of Nanox.ARC next-generation x-ray prototype at the conference of the Radiological Society of North America (RSNA), which was on December 3.
Creation of Nano-X, a medical imaging technology that can make a cheaper alternative to conventional MRI devices. The value of the system is not just the significantly low cost (about $10,000), but also the ease of use and the ability to install it in any hospital.
The FDA has not yet accord approval for the Nano-X x-ray system, so the stance of experts to the new technology is conflicting. Some of them may not hesitate to brand the company fake, arguing that there is actually no such technology. And all that has resulted the instability of NNOX shares.
Its production is according to the company itself a “cold” system that does not require a large heat exchanger for a superconductor. A new approach is taken by the Nano-X device as it utilizes carbon nanotubes and field emission technologies built for flat screens by Sony. The demand for such a device will be huge around the world, especially in regions that are unable to afford expensive modern equipment. In reality, the Nano-X target market will not be constrained.
Despite the successful Thursday demonstration, Nano-X Imaging Ltd. (NNOX) stock fell 1.76% to $57.04 on Friday but was still up about 9% over the week.