Sometimes, stocks have days where they outshine those around them. Today, RWLK stock is having one of those days, sparked by ReWalk Robotics (NASDAQ:RWLK) sharing exciting news with the public.
Here’s what we know.
RWLK Stock: Up More Than 140%
On Tuesday, June 4, ReWalk Robotics said the US FDA cleared the company’s ReStore soft exo-suit system for sale. The FDA has cleared the soft exo-suit for sale to United States-based rehabilitation centers.
“The exo-suit achieves our commercial goal to offer a functional and affordable system that can be utilized in the ‘Main Street’ clinics in every community,” explained Larry Jasinski, CEO of ReWalk, an Israel company.
Now, this news is exciting for multiple reasons. First, and most importantly, the ReStore soft exo-suit system is the only one that has clearance from the FDA. Stroke survivors will use it. Secondly, ReWalk investors have known that the FDA was looking at ReStore for a while. In 2018, the company sent results from a ReStore clinical study to the FDA, and with the results being positive, many were waiting for the seed of approval.
“We are very encouraged by our initial experience and positive impact of ReStore in gait training for persons with stroke residual disabilities.”
Thirdly, news of the FDA’s approval has allowed RWLK stock to become a Yahoo Finance trending ticker of the day.
At the time of writing, RWLK stock is trading at $8.15 on the Nasdaq Exchange; this means RWLK stock is up 145.80%.
ReWalk Robotics is in an interesting position. Considering the FDA has approved its soft exo-suit and no other, the Israel company is now in its own category, giving itself a significant competitive edge. So with that, are we surprised RWLK stock jumped nearly 200% after the news came out? Not really.
What do you think, though? Do you think RWLK stock will open even higher tomorrow? Let us know in the comments below!
Featured image: DepositPhotos © amuzica