The rampaging share price of Nanosonics received another boost in mid-May after the company announced a new study demonstrated its proprietary Trophon EPR was the only high level disinfection system proven to kill natural infectious high risk human papilloma virus under normal use conditions.

The company's shares spiked 12 per cent on the day of the announcement, but still finished about 15 per cent shy of their all-time high of $2.02. Nanosonics has successfully targeted a niche market and it is highly likely this news will trigger a further re-rating.