Nanox Stock: Why This Saga Is Best Avoided

“We’re going to wait until regulatory approval happens and revenues start trickling in before we take another look at Nanox (NNOX).” That’s what we wrote nearly three years ago in a piece titled Nanox Reinvents X-Ray Machine, Files IPO which noted the company’s goal – “to finalize deployment of the initial 15,000 Nanox Systems by 2024.” Our response was to quote the great American philosopher Mike Tyson – “everyone has a plan until they get punched in the mouth.”

Three Years Later

Three years later and the plan to have 15,000 x-ray machines in the field has moved to three years following an FDA approval that took place in spring of this year.

Following receipt of clearance from the FDA, and if authorized by similar regulatory agencies in other jurisdictions, our goal is to finalize deployment of the initial 15,000 Nanox System units within three years following receipt of FDA clearance for our multi-source Nanox.ARC (including the Nanox.CLOUD).

Credit: Nanox

Why three years? Wasn’t the $100 million from the IPO supposed to fund the creation of these 15