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Why Nano-X Imaging Stock Soared Today
Nano-X has the FDA's backing. Now it just needs to make some money.
Nano-X Imaging (NASDAQ: NNOX), the Israeli X-ray imaging company that hopes to disrupt the medical devices market with a business model charging per X-ray delivered rather than simply selling X-ray machines, jumped in Thursday trading, rising 14.2% through 12:30 p.m. ET.
Why? This morning, Nano-X announced that it has received clearance from the U.S. Food and Drug Administration (FDA) to use its Nanox.ARC X technology to produce "tomographic images for general use, including musculoskeletal, pulmonary, intra-abdominal and paranasal indications" -- and presumably, to charge per image.
Nano-X says its proprietary Nanox.ARC X technology uses artificial intelligence in conjunction with 2D X-ray scans to produce "a more comprehensive, sliced three-dimensional view of the body." (Yes, you read that right. Nano-X is an artificial intelligence company now.)
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