Nanosonics flirts with $1.2B market cap on latest FDA tick for disinfectant device software

Nanosonics (ASX:NAN) has popped with modest gains of +1.4% to $3.95.sh in early afternoon trades on Wednesday after a key FDA greenlight for its Trophon medical device.

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Trophon (stylised in lowercase letters as a branding decision by the company) is a disinfection machine that treats transvaginal and transrectal ultrasound probes, right in the middle of examination rooms.

It looks not unlike a UV autoclave but instead uses hydrogen peroxide to disinfect.

At any rate, the FDA has on Wednesday cleared the ‘trophon2’ and ‘trophon3’ software upgrades, which Nanosonics reports will boost efficiency and overall value prop for the machines – suggesting a more compelling sales pitch to hospitals not yet tapped by the company’s marketers.

While the stock jumped +1.5% on $3M turnover around 1pm AEST, the bigger metric might be that Nanosonics, at the same time, hovers just below a market cap of $1.2B.

Gains out the gate were higher on Wednesday as the price climbed above $4.10/sh, but receded to $3.95 midday.

It’s a win for a healthcare company in a week otherwise dominated by mining news, thanks in part, no doubt, to Diggers & Dealers taking place in Kalgoorlie.

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NAN last traded at $3.95/sh.

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