Ekso Bionics (NASDAQ:EKSO) news for Thursday concerning approval from the U.S. Food and Drug Administration (FDA) for one of its devices has EKSO stock soaring higher.
The FDA approval allows Ekso Bionics to market its EksoNR robotic exoskeleton for use in patients suffering from acquired brain injury. This is a category that includes both traumatic and non-traumatic injuries to the brain.
With this new approval, Ekso Bionics can market the EksoNR to a larger group of people needing rehabilitation. The device already has approval for use in the rehabilitation of patients suffering from stroke and spinal cord injuries.
Ekso Bionics is hoping that this new category of patients will increase demand for its devices. It notes that traumatic brain injuries and strokes make up 3.7 million patients a year in the U.S.
Jack Peurach, president and CEO of Ekso Bionics, said this about the news.
“At Ekso Bionics, we are committed to maximizing patient access to our technology. With the expanded indications to include the broad category of acquired brain injuries, the EksoNR has the potential to mobilize significantly more patients and improve patient recovery. Based on their experience with EksoNR, customers at leading rehabilitation centers have acknowledged the benefits our technology can offer during recovery from brain injuries. We are excited to see the device used more widely in neurorehabilitation.”
Ekso Bionics’ EksoNR is currently in use at more than 270 rehabilitation clinics. It has approval for use in the U.S. and is also available in Europe.
EKSO stock was up 139.4% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.