ReWalk Robotics exo-suit news for Wednesday has RWLK stock heading into orbit.
ReWalk Robotics (NASDAQ:RWLK) has announced that the U.S. Food and Drug Administration (FDA) has given approval to one of its new medical devices. This is the ReWalk Robotics exo-suit called “ReStore”. The device will launch for a price of $28,900 and leasing options will also be available.
The new ReWalk Robotics exo-suit is designed to help patients relearn how to properly walk through physical therapy. The target market for this is patients that have suffered a stroke. The difficulty of learning to walk again can result in a gait in these individuals.
If the patients are able to make use of the new ReWalk Robotics exo-suit, they will likely learn proper walking methods. This may result in them no longer having a gait to their walk. The company says it has study results showing this and plans to release them later this year.
“This technology has broad potential, and we are currently testing additional concepts which can be applied to provide therapy and/ or mobility assistance for individuals with other diseases, such as multiple sclerosis and Parkinson’s disease, and also potentially be used by a person at home and in their community,” Conor Walsh, one of the leaders behind the development of the tech in the ReWalk Robotics exo-suit, said in a statement.
RWLK stock was up 132% as of Wednesday afternoon, but is down 31% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.