A small Georgia-based healthcare company just announced an exclusive distribution agreement for Southeast Asia with leading Taiwanese medical device distributor Kingdom Brother. This sent shares of Sanuwave Health Inc. (OTCQB:SNWV) flying as trading snatched up what was on the offer.
Sanuwave is part of the healthcare sector. It is a shock wave technology company, which focuses on the development and commercialization of noninvasive, high-energy, and acoustic pressure shockwaves for regenerative medicine and other applications.
Its shockwaves are used to produce a biological response resulting in the body healing itself through the repair and regeneration of skin, musculoskeletal tissue, and vascular structures. Its lead product candidate is dermaPACE, catering commercial use to treat diabetic foot ulcers, acute and chronic defects of the skin and subcutaneous soft tissue.
Traders were bullish on the news as shares jumped up to $0.185/share (+12.12%) in the minutes following the announcement. This move has long-term holders hoping that it leads to a potential upward breakout from the trading range it has been in for a few months.