Ekso Bionics Holdings, Inc. (NASDAQ:EKSO)
Shares of Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) gained 5.93% after the exoskeleton technology company said it will showcase new features for its EksoGT wearable exoskeleton at an event in Denver. The company plans to showcase how its SmartAssist and EksoPulse can be used to provide personalized patient care at the 2017 American Academy of Physical Medicine and Rehabilitation (AAPM&R) Annual Assembly.
EKSO Stock Catalyst
During the event slated for October 12-15, 2017, the exoskeleton company will demonstrate how the FDA cleared exoskeleton can be used for stroke and spinal cord rehabilitation. Clinicians will be given an opportunity to explore the technology first hand and learn more about its clinical benefits.
The event presents an opportunity for Ekso Bionics to market its exoskeleton in a bid to strengthen investors’ confidence for its long-term prospects. The company needs a catalyst to bounce back from current trading levels after dropping to multi-year lows.
Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) is down by more than 60% for the year, and is underperforming the overall industry. The stock is currently trading in a strong downtrend and at risk of dropping below $1, the minimum requirement needed for continued listing on the NASDAQ.
According to data compiled Zack Investment Research, Ekso stock is currently rated as a ‘strong buy’ by three investment firms, ‘hold’ by eight and ‘sell’ by 2.
The EksoGT exoskeleton could be the catalyst to bolster investor confidence. The device is designed to enable individuals to stand up and walk with a full weight bearing reciprocal gait. The SmartAssist technology, on the other hand, is a next-generation gait therapy software that enables personalized therapy.
Ekso Bionics’ Capital Raise
Separately, Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) has announced the results of a previously announced rights offerings. The company says it generated gross proceeds of $34 million from the offering including an investment of $20.5 million from Puissance Capital Management.
“The capital raised through this financing will provide us with additional resources to further advance the adoption and development of our innovative exoskeleton solutions in both the rehabilitation and industrial verticals. We are pleased to have Puissance Capital as a new investor as they share our vision for innovating products,” said CEO, Thomas Looby.
In addition, Ekso Bionics has confirmed the appointment of Ted Wang into its board of directors. He joins the company with a strong track record of successful, strategic and financial management. He also boasts deep knowledge of Ekso Bionics Holdings, Inc. (NASDAQ:EKSO)’s technology, products and end markets.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.