ReWalk Robotics pleased investors this morning on the news that its revolutionary ‘ReBoot’ device has been granted designation as a Breakthrough Device from the FDA – sending the stock soaring 45% on Friday in the dawning hours of Friday trading.
The global manufacturer of robotic medical devices needed the approval to revitalize investor faith and maintain annual growth – currently at 33%. The approval of the ReBoot is a green light for the company’s on-the-fence investors, should the next stages run smoothly.
The device that is causing all the fuss this morning is the ReBoot; a lightweight, battery-powered orthotic exo-suit intended to aid in walking for those that suffer from reduced mobility. Completely customizable and personalized, and intended for both community and home use – it’s no wonder the device has been aptly named as ‘Breakthrough’.
Larry Jasinski, CEO of ReWalk stated:
“Breakthrough device designation from the FDA is a critical milestone for the ReBoot, as it provides a more streamlined review pathway that can get this uniquely innovative device to market faster…The ReBoot will give stroke survivors a device customizable for each individual user, giving them the opportunity for regular assistance at home and in the community. ”
ReWalk is currently trading at $1.79, holding onto a strong gain of 38%. The company certainly has potential and was picked up by retail traders in September when the stock rallied over 40%.
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