Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) To Unveil New Features

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 Bionics Holdings, Inc. (NASDAQ:EKSO)

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.

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) Cash Reserve Up $34 Million After Rights Offering

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO)

Shares of Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) traded lower after the developer of exoskeleton solutions said it raised $34 million in a previously announced rights offering. Puissance Capital Management invested $20.5 million for 20,536,058 common shares. The stock was down by 1.71% on the news.

Stock Performance

The stock is currently trading in a downtrend in a $1.02 – $1.17 trading range, levels last seen in June. Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) faces the risk of being hit with a delisting notice by the NASDAQ Capital market after the stock fell below the $1 a share mark. A close below the current trading range could see the stock registering a new 52-week low.

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO)
One month EKSO stock price chart

Ekso Bionics develops and sells exoskeleton for use in the healthcare, industrial, and military industries. The company’s lead product is the Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) GT, a bionic suit designed to provide the ability to walk over ground without the need for a cane or crutches.

According to the Chief Executive Officer, Thomas Looby, the closure of the $34 million rights offering provides additional resources to enhance the development and commercialization of exoskeleton solutions,.

“We believe that this financing reflects growing excitement within the investment community for the potential of our products and technologies. The capital raised through this financing will provide us with additional resources to further advance the adoption and development of our innovative exoskeleton solutions,” said Mr. Looby.

Net Proceeds Use

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) plans to use part of the net proceeds to accelerate the adoption of its exoskeleton solutions in the rehabilitation market as it also moves to expand its footprint into China. The funds will also be used for further research, development, and commercialization.

A $20 Million investment by Puissance Capital demonstrates the global asset management firm’s confidence in Ekso Bionics Holdings, Inc. (NASDAQ:EKSO)’s long-term prospects. Following the investment, Ted Wang of Puissance will join the Ekso Board of Directors.

Separately, Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) has confirmed the appointment of Christian Babini as the new vice president of sales for the America’s. He joins the company with more than 20 years of diverse medical device sales experience. He previously served as the Global Vice-President for sales and marketing development at Medtech Surgical.

“[..] Ekso’s innovative exoskeleton portfolio provides significant value to our customers, and I look forward to helping accelerate our sales effort and expand our market presence,” said Mr. Babini

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.

Don’t miss out! Stay informed on $EKSO and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) To Cut Costs After Q1 Net Loss

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO)

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) has embarked on a cost-cutting drive after reporting a wider than expected first-quarter net loss of (-$8.3) million. The exoskeleton developer plans to streamline its operations and cut its workforce by about 25% in a bid to reduce cash burn.

Cost-Cutting Drive

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) expects the cuts to result in a 25% reduction in monthly operating expenses. Cash severance and related expenses as a result of cutbacks could rise to $1 million. The cost-cutting drive will not interfere with the company’s research and development activities geared towards advancing proprietary solutions.

The restructuring comes at a time when Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) is looking for ways to fuel sales on its lead product Ekso GT – among other exoskeleton offerings. In a bid to push for sales in industrial markets, the company is currently working with partners to increase awareness.

“We remain on track with our strategic priority of establishing our unique products as the industry standard. We believe that the measures announced today will enhance shareholder value as we more efficiently deploy cash and solidify our leadership in the emerging exoskeleton industry,” said CEO Thomas Looby

A decline in revenues from $8.5 million as of last year to $1.4 million in Q1 2017 is a major point of concern. However, the chief executive officer remains confident that positive feedback will lead to greater success as they ramp up commercialization efforts.

Strategic Collaborations

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) has already teamed up with four leading rehabilitation centers as part of an effort that seeks to expand the current target market. The four centers that the company is collaborating with are Barrow Neurological Institute, Good Shepherd Rehabilitation Network, Marianjoy Rehabilitation Hospital, part of Northwestern Medicine and Villa Beretta” Centro di Riabilitazione, Costa Masnaga (LC), Italy

The collaborations should advance the use of the company’s innovative exoskeleton in mobility-impaired patients. Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) also expects the collaboration to help build clinical support on the benefits of its products. Each center will also help research and development efforts.

“We are proud to work with these visionaries who are dedicated to helping patients with recovery and to provide quantifiable insights into the strides they’re making walking with an exoskeleton,” said Mr. Looby.

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) stock was down by 9% in Friday’s trading session to end the week at $1.92 a share. In early Monday trading, EKSO shares are trading down a further 7%.

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.

Don’t miss out! Stay informed on $EKSO and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) Impresses on Earnings

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO)

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) beat their Q4 2016 analyst forecast both on an EPS and revenue basis. Q4 EPS was a loss of $0.35 – beating estimates by $0.05. Q4 revenues were $2.6 million – beating estimates by $0.86 million. For 2016, device and related revenue was $13.3 million. Gross profit for the year ended December 31, 2016 was $2.9 million, of which $2.6 million was attributable to device and related revenue.

Thomas Looby, president and chief executive officer at Ekso Bionics Holdings, Inc. (NASDAQ:EKSO). “With the broadest label in the US for exoskeletons, a sales and marketing team that is highly motivated and already making major inroads, a clinical study to provide evidence, and a technology that is changing lives, we have certainly had a productive 2016 and I am energized to lead this company into 2017 and beyond.”

Ekso Bionics, Inc. (NASDAQ:EKSO) designs, engineers, and develops robotic exoskeletons. In 2016, Ekso Bionics received the first FDA clearance exoskeleton for use with stroke and spinal cord injury levels to C7. Ekso Bionics is headquartered in Northern California.

Ekso Bionics went public in 2016. Their EPS history is a loss in 2014 of $30.2 which they narrowed in 2015 to an EPS loss of $1.66. Sales have an upward trend. In 2014 sales came in at $5.3 million but were $8.7 million in 2015. All four firms that follow Ekso Bionics, Inc. (NASDAQ:EKSO) rate EKSO shares as a “Strong Buy” with a consensus price target of $12.50 – about four times current trading levels.

3/7/2017
Ticker Symbol EKSO
Last Price a/o 5:40 PM EST  $                      3.40
Average Volume                    110,000
Market Cap (mlns)  $                    70.45
Sales (mlns) $13.60
Shares Outstanding (mlns) 21.81
Share Float (mlns) 18.73
Shortable Yes
Optionable Yes
Inside Ownership 0.10%
Short Float 3.21%
Short Interest Ratio 5.51
Quarterly Return -24.36%
YTD Return -18.84%
Year Return 0.00%

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy. 

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading.