Nigel has been in the regulated financial services industry for nearly a decade, has previously owned a financial brokerage and has written many times for sites relating to personal finance and trading.
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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