|Over a week ago|
Ekso Bionics files to sell 874K shares of common stock for holders 17:2507/0207/02/20
Fly Intel: Pre-market Movers » 09:0306/2606/26/20
GPS, ZGNX, AXSM, EKSO, VXRT, BIG, NKE, APOG, DBVT, SOLY, IDEX
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Ekso Bionics price target raised to $12 from $8 at H.C. Wainwright » 06:1906/2606/26/20
H.C. Wainwright analyst…
H.C. Wainwright analyst Swayampakula Ramakanth raised the firm's price target on Ekso Bionics to $12 from $8 and reiterates a Buy rating on the shares after the company received 501(k) clearance from the FDA to market its lead product, EksoNR robotic exoskeleton, for the treatment of patients with acquired brain injuries. The analyst believes that the addition of new indication bodes well for a stronger adoption and to treat a broader group of patients.
Ekso Bionics receives FDA clearance to market EksoNR robotic exoskeleton » 08:3706/2506/25/20
Ekso Bionics announced it…
Ekso Bionics announced it has received 501(k) clearance from the U.S. Food and Drug Administration to market its EksoNR robotic exoskeleton for use with patients with acquired brain injury. EksoNR is the first exoskeleton device to receive FDA clearance for rehabilitation use with ABI, significantly expanding the device's indication to a broader group of patients. EksoNR is the next generation device of the most clinically used robotic exoskeleton, and was previously cleared by the FDA for stroke and spinal cord injury rehabilitation in 2016. The device was the first of its kind to receive a stroke indication and is now also the first to receive an ABI indication. EksoNR is cleared by the FDA for stroke, spinal cord injury, and acquired brain injury rehabilitation. The device is also CE-marked and available in Europe.
Ekso Bionics files $75M mixed securities shelf 09:3506/1606/16/20
|Over a month ago|
Ekso Bionics announces closing of $7.89M registered direct offering » 13:3406/1006/10/20
Ekso Bionics Holdings…
Ekso Bionics Holdings announced the closing of its previously announced registered direct offering of 1,747,704 shares of its common stock at a purchase price of $4.5145 per share and the concurrent private placement of warrants to purchase up to 873,852 shares of its common stock issued to the accredited investors in the registered direct offering priced at-the-market under Nasdaq Rules, for aggregate gross proceeds of approximately $7.89M. The warrants are immediately exercisable, have an exercise price of $5.18 per share and a term of five and one-half years from the issuance date. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. The company intends to use the net proceeds from the offering for working capital and general corporate purposes.
Ekso Bionics announces $7.89M registered direct offering priced at-the-market » 09:1206/0806/08/20
Ekso Bionics Holdings…
Ekso Bionics Holdings announced that it has entered into definitive agreements with several institutional and accredited investors for the issuance and sale of an aggregate of 1,747,704 of its shares of common stock, at a purchase price of $4.5145 per share, in a registered direct offering priced at-the-market under Nasdaq Rules. The company has also agreed to issue to the investors in a concurrent private placement warrants to purchase up to an aggregate of 873,852 shares of common stock. The closing of the offering is expected to occur on or about June 10, 2020, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The warrants have an exercise price equal to $5.18 per share, are exercisable immediately and will expire five and one-half years from the issuance date. The gross proceeds from the offering are expected to be approximately $7.89M. The company intends to use the net proceeds from the offering for working capital purposes and other general corporate purposes.
Ekso Bionics announces CFIUS determination regarding China JV » 16:1305/2005/20/20
Ekso Bionics Holdings…
Ekso Bionics Holdings reported that the Company, Zhejiang Youchuang Venture Capital Investment and another partner received notice from the Committee on Foreign Investment in the United States, CFIUS, in connection with its review of the company's and the JV Partners' investment in Exoskeleton Intelligent Robotics. The notice states that CFIUS's prior national security concerns regarding the JV could not be mitigated and, in connection with its determination, CFIUS presented the Company and the JV Partners with a National Security Agreement, which will, among other things, require the termination of the Company's role with the JV. The Company intends to work cooperatively with the JV Partners and CFIUS to finalize the terms of the NSA. The JV was established in early 2019 with the purpose of developing and serving the exoskeleton market in China and other Asian markets and to create a global exoskeleton manufacturing center in the Zhejiang Province of China. Following U.S. governmental inquiries regarding the JV, the Company and the JV formally submitted a joint voluntary notice to CFIUS in December 2019 to review the transaction. CFIUS subsequently inquired about Ekso Bionics' legacy work for the U.S. government as well as technology transfers and other aspects of the JV and, in February 2020, imposed interim measures to mitigate identified concerns pending completion of its investigation. These measures temporarily suspended the Company's contributions to the JV and other integration activities for the JV. "Despite our best efforts to mitigate their concerns, we are disappointed that CFIUS will not allow us to move forward with the joint venture," said Jack Peurach, Chief Executive Officer of Ekso Bionics. "Although we looked forward to working with our JV partners, we are confident in our abilities to partner with other global manufacturing sources to continue our product cost reduction initiatives. The termination of the JV should not have a material impact on our operations during the remainder of 2020."
|Over a quarter ago|
Ekso Bionics sees Q1 revenue $1.4M-$1.5M, two estimate-consensus $3.63M » 16:0804/0904/09/20
The COVID-19 pandemic…
The COVID-19 pandemic impacted Ekso Bionics' business in the first quarter as its customers shifted their priorities to prepare for and manage their business during the pandemic. This has caused many of its customers to delay orders, which are typically booked in the last few weeks of a quarter. It is important to note that a majority of the Company's customers have indicated that their originally planned orders are delayed and not canceled, pending the return to a more normal environment. Total revenue for the first quarter of 2020 is estimated to be in the range of $1.4 - $1.5M. Cash at March 31, 2020 is estimated at $8.5M, compared to $10.9M at December 31, 2019. "The COVID-19 pandemic has impacted our customers' businesses, and subsequently, our business as customers delay longer-term technology decisions. As a result, we have shifted our business operations to reduce expenses and align our strategy with current market conditions," said Jack Peurach, President and Chief Executive Officer of Ekso Bionics. "As a company committed to meeting the needs of our customers, we are evolving our business so we can continue to support our customers while they focus their energy on protecting their patients and staff from COVID-19. We also took the difficult decision to furlough a portion of our dedicated and valued employees in order to weather this extraordinary global health crisis, bring expenses more in-line with business operations over the short-term, and allow us to resume normal activities when our customers are ready."
Ekso Bionics announces 1-for-15 reverse stock split » 16:0203/2403/24/20
Ekso Bionics announced…
Ekso Bionics announced that it will effect a reverse stock split of shares of its common stock at a ratio of 1-for-15, effective as of March 24. The company's common stock will open for trading on The Nasdaq Capital Market on March 25, on a split-adjusted basis under the existing trading symbol "EKSO". The company's common stock will trade under a new CUSIP number 282644301 upon the effectiveness of the reverse stock split. Upon the effectiveness of the reverse stock split, the number of shares of the company's outstanding common stock will decrease from approximately 87.44M pre-split shares to approximately 5.83M post-split shares, with no change in par value per share.