Stock Alert: NanoVibronix Up 24% After Inking Distribution Deal For PainShield

(RTTNews) - Shares of NanoVibronix, Inc. (NAOV) are currently up 24% on Tuesday morning after the medical device company announced a two year exclusive distribution agreement for PainShield.

NAOV is currently trading at $2.70, up $0.52 or 23.85%, on the Nasdaq.

NanoVibronix said it has entered into a two-year exclusive agreement with Ultra Pain Products Inc. for the distribution of NanoVibronix's proprietary PainShield devices and components through and by Durable Medical Equipment Distributors throughout the United States.

Under the terms of the two-year agreement, NanoVibronix granted exclusive distribution rights to UPPI to sell the newest model of PainShield MD and components. In exchange, the company received an initial purchase order and minimum annual quantities, which must be achieved.