Less than two weeks after its IPO the Israeli medical imaging technology company's share price is over $40, giving a market cap of $1.8 billion.
Two weeks after its IPO, Israeli medical imaging technology company Nanox Imaging Ltd. (Nasdaq: NNOX) has seen its share price rise by 120%. Nanox raised $190 million, including the underwriters' options, at $18 per share at a company valuation of $800 million. But last night the share price closed at $39.80, giving a market cap of $1.78 billion and the share price was up a further 1.52% to $40.40 in afterhours trading.
Based in Neve Ilan near Jerusalem, the company was founded in 2012 by CEO Ran Poliakine. Nanox raised $137 million before the IPO from investors including Korea's SK Telecom, Industrial Alliance, Yozma Korea, Foxconn, Fuji, and Jin Ji Full. Nanox has developed a lightweight, mobile CT scanner, and has a business model based on a unique medical screening as a service (MSaaS) to allow wide distribution and accessibility, and charging health providers with a pay-per-scan service model. The device has yet to receive FDA marketing approval.
Published by Globes, Israel business news - en.globes.co.il - on September 3, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020
Ran Poliakine / Photo: LUZ Corporate Photography