Zynex, Inc. (NASDAQ: ZYXI) is engaged as a medical technology company, which focuses on the manufacturing and sale of electrotherapy medical devices for use in pain management and rehabilitation. Shares of the medical technology company are rallying 10.74%, during early trading on Wednesday, October 2, 2019. Over the past three months, Zynex has seen average daily volume of 252,620 shares. However, volume of 504,822 shares or dollar volume of $5.44 million, has already exchanged hands through early trading on Wednesday.
Shares of Zynex are gaining after the company announces 95% order growth year-over-year, during the third quarter 2019. Furthermore, third quarter 2019 order growth came in 30% above second quarter 2019 orders. “The investment in our sales force expansion is clearly beginning to bear fruit. Our prescription-strength NexWave device is clearly a healthy alternative to prescribing opioids as the first line of defense when treating pain. We continue to aggressively add additional sales reps in territories throughout the U.S. that we have not covered previously,” noted Zynex CEO, Thomas Sandgaard.
Zynex, Inc. Press Release:
ENGLEWOOD, Colo., Oct. 2, 2019 /PRNewswire/ — Zynex, Inc. (ZYXI), an innovative medical technology company specializing in manufacturing and selling non-invasive medical devices for pain management, stroke rehabilitation, cardiac monitoring and neurological diagnostics, today announced 95% year over year order growth for the third quarter 2019.
Orders in the third quarter of 2019 grew 95% compared to the third quarter of 2018 and 30% above the second quarter of 2019. In the second quarter of 2019, orders grew 65% year-over-year.
Thomas Sandgaard, CEO of Zynex, said: “The investment in our sales force expansion is clearly beginning to bear fruit. Our prescription-strength NexWave device is clearly a healthy alternative to prescribing opioids as the first line of defense when treating pain. We continue to aggressively add additional sales reps in territories throughout the U.S. that we have not covered previously.
“We advocate for pain patients, and for physicians to prescribe our NexWave technology as the first line of defense in treating chronic and acute pain without side effects. We are dedicated to promoting our technology in an effort to remove patient addiction and other side effects from prescription opioids.”
Zynex, founded in 1996, markets and sells its own design of electrotherapy medical devices used for pain management and rehabilitation; and the company’s proprietary NeuroMove device designed to help recovery of stroke and spinal cord injury patients. Zynex is also developing a new blood volume monitor for use in hospitals and surgery centers. For additional information, please visit: Zynex.com.
Safe Harbor Statement
Certain statements in this release are “forward-looking” or projections and as such are subject to numerous risks and uncertainties. The company makes no express or implied representation or warranty as to the completeness of this information or, in the case of projections, as to their attainability or the accuracy and completeness of the assumptions from which they are derived. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause actual results to materially differ from forward-looking statements include, but are not limited to, the need to obtain FDA clearance and CE marking of new products, the acceptance of new products as well as existing products by doctors and hospitals, larger competitors with greater financial resources, the need to keep pace with technological changes, our dependence on the reimbursement for our products from health insurance companies, our dependence on third party manufacturers to produce our goods on time and to our specifications, implementation of our sales strategy including a strong direct sales force and other risks described in our filings with the Securities and Exchange Commission including the “Risk Factors” section of our Annual Report on Form 10-K for the year ended December 31, 2018 as well as Forms 10-Q, 8-K and 8-K/A, press releases and the Company’s website.