Why NanoVibronix (NAOV) Stock Is Trading Higher Monday?

The stock price of NanoVibronix Inc NAOV closed 250% higher at $2.61 in very volatile and active afternoon trading Friday, and the stock is up almost 31% at $3.41 during the premarket on Monday.
Investors appear to be reacting after the Company announced on Thursday that The Journal of Medical & Surgical Urology is publishing an article with overwhelmingly positive findings from a study of patients that used its UroShield in real-world settings.
For the study, 23 patients with reoccurring urinary tract infections (UTIs) were offered for using the UroShield device for a minimum period of 12 weeks.
As part of the findings, patients reported a significant decrease in the number of UTIs and antibiotic treatment, had fewer catheter blockages and catheter changes, and the pain was reduced significantly by the end of the study.
Adding to the compelling data, the device also scored approval in Australia.
Price Action: NAOV shares are up 30.6% at $3.41 during the premarket session on the last check Monday.
Related content: Benzinga's Full FDA Calendar.