ReWalk Robotics

ReWalk Robotics (Nasdaq:RWLK) announced today that its board of directors approved an extension to its current share repurchase program.

Yokneam Ilit, Israel-based ReWalk values its ordinary shares at NIS 0.25 ($0.072) apiece. This brings the program extension to an a aggregate amount of up to $5.8 million.

ReWalk’s ongoing $8 million repurchase program received approval from the board and an Israeli court. It ranges across a six-month period ending Jan. 20, 2023, according to a news release. Approval for the $5.8 million extension aims to facilitate purchases of up to $8 million over the life of the repurchase program. The extension remains subject to Israeli court approval. ReWalk filed a motion requesting permission to make purchases for six months following authorization.

“We believe our stock is significantly undervalued and this filing to extend our repurchase program reflects our confidence in the long-term potential of ReWalk,” said Jeff Dy…

ReWalk Robotics (Nasdaq:RWLK) announced that it received a letter from the Nasdaq stock market indicating unsatisfied listing requirements.

Last week, the market notified the company that it failed to maintain a minimum bid price of $1 per share. This fails to satisfy the requirement for continued listing on Nasdaq.

The company became deficient with the rule as of Oct. 10, 2022, as its closing bid price failed to reach $1 for 30 consecutive business days. RWLK shares rose 1.9% to 85¢ apiece as the market opened this morning.

Rewalk has 180 days (until April 10, 2023) to comply with the rule. To do so, it must maintain a closing bid price of at least $1 for 10 consecutive business days. It also may be eligible for a second 180-day period to satisfy the requirement.

If, as of April 10, 2023, ReWalk maintains a market value of publicly held shares of at least $1 million, meets all other Nasdaq listing standards and provides written notice of its inte…

ReWalk Robotics (NSDQ:RWLK) this week posted fourth-quarter results that missed the consensus on Wall Street.

The Marlborough, Massachusetts-based robotic exoskeleton device maker reported losses of -$3.9 million, or -6¢ per share, on sales of $1.2 million for the three months ended Dec. 31, 2020, for a sales growth of 1.97% compared with Q4 2020.

Earnings per share were 2¢ behind The Street, where analysts were looking for sales of $1.78 million.

“2021 was a foundational year for the company as we made meaningful progress with our efforts to expand access through broad coverage in the United States and Germany. These payment activities combined with new technical developments and the easing of the pandemic restrictions are pivotal elements for our company and this industry in achieving sustainable growth after many years of investment,” CEO Larry Jasinkski said in a news release.

ReWalk Robotics did not provide a financial outlook for fiscal year…

ReWalk Robotics (NSDQ:RWLK) posted first-quarter results today that beat the revenue consensus on Wall Street but missed on earnings estimates.

The Marlborough, Mass.-based company reported losses of -$3.06 million, or -8¢ per share, on sales of $1.3 million for the three months ended March 31, for a sales growth of 73.16% compared with Q1 2020, which had net losses of -$3.8 million and sales of $760,000.

Earnings per share were -8¢, 1¢ behind The Street, where analysts were looking for sales of $1 million.

“We are encouraged by the results shown in the first quarter of 2021” CEO Larry Jasinski said in a news release. “We see areas of our direct markets gradually reopening, which allows us to increase trials of ReWalk’s new Personal 6.0 System with patients and return to in-clinic demonstrations of our rehab products for new potential users. As we look forward into 2021, we remain focused on progressing our CMS coverage and broadening our German market a…

ReWalk Robotics (NSDQ:RWLK) announced today that it closed a private placement worth approximately $40 million.

Marlborough, Mass.-based Rewalk Robotics’ private placement included more than 10.9 million ordinary shares and warrants to purchase up to nearly 5.5 million ordinary shares at a purchase price of $3.6625 per share and associated warrant, according to a news release.

The $40 million in proceeds is an approximation of the total collected before the deduction of placement agent fees for H.C. Wainwright & Co., which acted as the sole placement agent, along with other expenses payable by the company.

Warrants included in the offering have a term of five and one-half years, are exercisable immediately and possess an exercise price of $3.60 per ordinary share.

ReWalk Robotics said it plans to use the proceeds for sales, marketing and reimbursement expenses related to market activities of its ReStore soft suit robotic exoskeleton and …

ReWalk Robotics (NSDQ:RWLK) shares dipped pre-market today on fourth-quarter results that couldn’t top the consensus forecast.

The Marlborough, Mass.-based robotic exoskeleton device maker posted losses of -$2.9 million, or -14¢ per share, on sales of $1.2 million for the three months ended Dec. 31, 2020, for a 17.6% bottom-line gain on sales growth of 3.1%.

Adjusted to exclude one-time items, losses per share were also -14¢, coming in equal with projections on Wall Street, where analysts were looking for sales of $1.5 million.

“We are encouraged with our overall results in FY 2020,” ReWalk Robotics CEO Larry Jasinski said in a news release. “Although we have faced and continue to face the effects of Covid-19 in several of our key markets, during this last year we progressed our CMS initiative as we created a new code for exoskeleton and, if our planned coverage application is successful, it will allow a significant number of the U.S. s…

A district court dismissed ReWalk Robotics (NSDQ:RWLK) shareholders’ claims of violations of the Securities Act and Securities Exchange Act.

The Massachusetts District Court dismissed the Securities Act claims made by investors, led by Wang Yan, due to a failure to state a claim, while also finding that Yan did not have standing to bring the Exchange Act claims, according to a court filing. Yan, on behalf of proposed classes of investors, alleged that the company misrepresented and omitted details about its dealings with the FDA in its initial public offering registration statement and subsequent quarterly and annual disclosures.

Yan failed to allege a violation of the Securities Act and his challenge of ReWalk’s alleged failures to make certain disclosures after his purchase of ReWalk securities, according to the court.

The court concluded that the proposed plaintiff would be denied from joining the party, affirming the dismissal of the amen…

ReWalk Robotics (NSDQ:RWLK) announced last week that it entered into definitive agreements to issue its ordinary shares for proceeds totaling about $9 million.

The Yokneam Illit, Israel–based robotic walking assistance company issued more than 4.9 million ordinary shares at a purchase price of $1.8225 per share, while also issuing unregistered warrants to purchase up to nearly 2.5 million ordinary shares. THe warrants will have a term of five and one-half years and will be exercisable immediately following the issuance date at $1.76 per share.

ReWalk expects the offering to close this week and plans to use gross proceeds for sales, marketing and reimbursement expenses related to the development of its ReStore device, as well as broadening third-party payor coverage for the ReWalk Personal device, according to a news release.

Other uses for the proceeds include research and development costs as ReWalk develops a lightweight exo-suit technology for potenti…