ReWalk Robotics Ltd. - RWLK STOCK NEWS

ReWalk Robotics Ltd. announced the appointment of Jeannine Lynch as Vice President of Strategy and Market Access, starting August 31, 2021. Ms. Lynch will lead the development and implementation of market access and reimbursement programs. Reporting to CEO Larry Jasinski, she aims to enhance coverage for exoskeleton technologies. Previously, Lynch held senior roles at BioMarin Pharmaceuticals, Genentech, and Pfizer. The company also approved a grant of 125,000 Restricted Stock Units tied to her employment. ReWalk is focused on improving life quality for individuals with lower limb disabilities.

ReWalk Robotics Ltd. (RWLK) reported total revenue of $1.3 million for Q1 2021, a rise from $0.8 million the previous year. The gross margin increased to 54% from 49% due to higher unit sales. Operating expenses decreased to $3.7 million from $4 million, while the net loss shrank to $3.1 million compared to $3.8 million in Q1 2020. The company maintains a strong balance sheet with $67.4 million in cash. Management remains optimistic about market reopening and growth opportunities.

ReWalk Robotics Ltd. (RWLK) will release its first quarter 2021 financial results on May 11, 2021, before the U.S. markets open. CEO Larry Jasinski and CFO Ori Gon will host a conference call at 8:30 A.M. EST to discuss these results. Investors can access the call via toll-free numbers in the U.S. and Germany, or through a live webcast. ReWalk develops wearable robotic exoskeletons to enhance the quality of life for individuals with lower limb disabilities resulting from spinal cord injuries or strokes.

ReWalk Robotics Ltd. (Nasdaq: RWLK) announced that CEO Larry Jasinski and CFO Ori Gon will present at the H.C. WAINWRIGHT global life science conference on March 9-10, 2021. A company presentation will be available on-demand starting March 9 at 7:00 AM EST through a specified link. The presentation will also be accessible on the investor section of the ReWalk website. ReWalk Robotics focuses on developing wearable robotic exoskeletons aimed at improving the quality of life for individuals with lower limb disabilities caused by spinal cord injuries or strokes.

ReWalk Robotics (RWLK) announced that its ReStore Soft Exo-Suit was featured in a Medtech Innovation Briefing by the UK's NICE. This briefing is aimed at NHS and social care teams considering new medical devices. The ReStore device assists post-stroke patients in gait rehabilitation, with potential benefits including improved outcomes, reduced falls, and staff efficiency in therapy sessions. Experts noted it may prove cost-effective if it demonstrates enhanced neuromuscular recovery compared to standard care. CEO Larry Jasinski emphasized the importance of the briefing for broader adoption across the UK.

ReWalk Robotics (Nasdaq: RWLK) announced a contract with BKK Mobil Oil Insurance to provide ReWalk Personal Exoskeleton devices to beneficiaries with spinal cord injuries. This marks ReWalk's first agreement with a corporate health insurer in Germany, following prior contracts with multiple health insurance providers. BKK Mobil Oil, serving over one million beneficiaries, will offer the ReWalk Personal 6.0 exoskeleton after a training program. CEO Larry Jasinski expressed hopes for further partnerships to enhance care quality.

ReWalk Robotics Ltd. (Nasdaq: RWLK) has completed a private placement of 10,921,502 ordinary shares and warrants, raising approximately $40.0 million. The shares were priced at $3.6625 each, with warrants having an exercise price of $3.60. Proceeds will be used for marketing, R&D for lightweight exo-suit technology, and general corporate purposes. The Company is required to file a registration statement with the SEC by March 11, 2021, to cover the resale of shares issued in this transaction.

ReWalk Robotics Ltd. (Nasdaq: RWLK) has announced a private placement to raise $40 million by issuing 10,921,502 ordinary shares at $3.6625 per share, along with warrants to purchase up to 5,460,751 shares. Net proceeds will support sales and marketing, research and development of its exo-suit technology, routine product updates, and general corporate purposes. The closing is expected around February 23, 2021, pending customary conditions. The company must file a registration statement with the SEC within 20 days.

ReWalk Robotics Ltd. (Nasdaq: RWLK) reported a 2020 revenue of $4.4 million, a decline from $4.9 million in 2019, impacted by Covid-19 disruptions. The fourth quarter revenue was $1.2 million, matching Q4 2019 results. Despite these challenges, the company strengthened its cash position to $20.3 million and removed its going concern qualification. Operating expenses decreased to $14.2 million in 2020 from $16.8 million in 2019. The gross margin fell to 50% for the year, down from 56% in 2019. Future initiatives include a coverage application for its exoskeleton device.