ReWalk Robotics Ltd. - RWLK STOCK NEWS

ReWalk Robotics Ltd. will hold its 2022 Annual Meeting of Shareholders on July 27, 2022, at 10:00 a.m. EDT in Marlborough, Massachusetts. Shareholders of record as of June 17, 2022, can vote on multiple proposals, including the reelection of directors and amendments to the company’s Incentive Compensation Plan. The Board recommends approval of Proposals 1-6 and against Proposals 7-9 regarding shareholder nominations and amendments. The company may shift to a virtual meeting format if needed due to COVID-19 concerns.

ReWalk Robotics Ltd. (Nasdaq: RWLK) announced a share repurchase program to buy back up to $8 million of its Ordinary Shares, pending court approval. The initiative reflects the Board's belief that the stock is undervalued and aims to enhance shareholder value. The repurchase strategy may involve various methods, adhering to applicable regulations. The program underscores the company’s strong cash position and confidence in its future, with significant decisions expected in 2022 regarding U.S. and German market coverage.

ReWalk Robotics Ltd. (RWLK) reported significant 36% year-over-year revenue growth in 2021, driven by increased market access and a robust sales strategy. Their ongoing efforts focus on expanding reimbursement coverage in the U.S. and Germany, essential for improving patient access to their robotic exoskeletons. Despite facing challenges with a proxy contest initiated by Creative Value Capital, the company is committed to board refreshment to drive sustainable growth and value for shareholders.

ReWalk Robotics Ltd. (Nasdaq: RWLK) announced that Creative Value Capital Limited Partnership (CVC), holding approximately 3% of its shares, intends to nominate two candidates for the Board of Directors and submit two proposals for the upcoming 2022 Annual Meeting of Shareholders. The Board will recommend director nominees in its definitive proxy materials. Chairman Jeff Dykan emphasized ongoing dialogue with shareholders to avoid a proxy fight and highlighted recent Board appointments focused on strategic needs. Shareholders are advised that no action is required at this time.

ReWalk Robotics Ltd. (Nasdaq: RWLK) reported a first quarter 2022 revenue of $0.9 million, down from $1.3 million in Q1 2021. The decrease is attributed to fewer units sold. Gross margin also fell to 30%, down from 54% in the previous year. Total operating expenses rose to $4.6 million from $3.7 million due to increased employee-related costs. The net loss widened to $4.4 million, compared to $3.1 million last year. However, ReWalk maintains a strong cash position with $82.6 million as of March 31, 2022.

ReWalk Robotics Ltd. (RWLK) announced the release of its first quarter 2022 financial results on May 13, 2022, after market close. CEO Larry Jasinski and Director of Finance Almog Adar will host a conference call at 4:30 PM EDT to discuss these results. ReWalk develops innovative wearable robotic exoskeletons for individuals with lower limb disabilities, aiming to enhance their quality of life. The company, founded in 2001 and headquartered in the U.S., Israel, and Germany, focuses on creating advanced robotic technologies in this field.

ReWalk Robotics announced its membership in the Human Robot Interaction Consortium, part of Israel’s MAGNET program, which aims to advance robotic technologies through collaboration. The program allocates NIS 57 million for R&D grants, with NIS 1.745 million earmarked for ReWalk projects over the first 18 months. CEO Larry Jasinski noted that this investment aligns with their goals to enhance technology adoption amid reimbursement progress in the US and Germany. The consortium involves collaboration with universities for improved exoskeleton usability.

ReWalk Robotics appoints Joseph Turk, Jr. to its Board of Directors, effective April 20, 2022. Turk brings over 25 years of experience in the medical device sector, including roles at Boston Scientific and NxStage Medical, where he notably enhanced Medicare payment policies. The company aims to leverage Turk's expertise to strengthen its commercialization strategies, especially as it prepares for expanded market opportunities in Germany and the United States. His appointment is seen as a strategic move to enhance leadership skills within the board.

Simon Kindleysides, paralyzed from the waist down, achieved a remarkable feat by climbing the 51-story Leadenhall Building in London, setting a new Guinness World Record using the ReWalk Personal Exoskeleton. It took him 6 hours and 16 minutes to ascend the 1,444 steps. This accomplishment highlights the durability and functionality of ReWalk's technology, which allows users to navigate stairs—a feature currently available outside the U.S. The company aims to expand this functionality to the U.S. market.