Ekso Bionics Holdings Inc (OTCMKTS:EKSO) has seen a fast rise in price in recent days after the Company received clearance from the FDA to market its Ekso GT robotic exoskeleton for use in the treatment of hemiplegia due to stroke, spinal cord injuries at levels T4 to L5, and spinal cord injuries at levels of T3 to C7 (ASIA D). The Ekso GT is the first exoskeleton cleared by the FDA for use with stroke patients.
EKSO is one of the most exciting stocks in small caps and one of the most volatile too making some spectacular moves in recent years. The stock has been weighed down recently by the Company’s new share offering at the end of last year during which EKSO raised $15 million at $1.01 per share.
Ekso Bionics Holdings, Inc. (OTC: EKSO) has been pioneering the field of robotic exoskeletons, or wearable robots, to augment human strength, endurance and mobility. The company’s first commercially available product called Ekso has helped thousands of people living with paralysis take millions of steps not otherwise possible. By designing and creating some of the most forward-thinking and innovative solutions for people looking to augment human capabilities, Ekso Bionics is helping people rethink current physical limitations and achieve the remarkable.
EKSO trades on the OTCBB but the Company operates more like a Big Board Stock than a microcap. Since inception there has been no known promotion of EKSO yet the stock trades millions. As well the Company has the proven ability to raise large sums of money; EKSO went public through a reverse merger in January of last year, simultaneously raising $20.6 million through a bridge debt transaction.
Originally Berkeley Bionics, Ekso Bionics was founded in Berkeley, California in 2005. Since inception Ekso Bionics has forged partnerships with world-class institutions like UC Berkeley, received research grants from the Department of Defense and licensed technology to the Lockheed Martin Corporation.
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Last October EKSO announced that they were selected by Boston Dynamics, now part of Google, to continue developing technologies for Defense Advanced Research Projects Agency’s (DARPA’s) Warrior Web Task A project.
Lockheed Martin is the exclusive contractor of the US military, EKSO is working with them in an attempt to provide exoskeletons for military purposes. Many EKSO investors are overlooking this opportunity. The military market could be the secondary market that not only raises awareness of EKSO’s bionic skeleton, but also advances the function of the technology.
On April 4 EKSO announced it has received clearance from the U.S. Food and Drug Administration (FDA) to market its Ekso GT robotic exoskeleton for use in the treatment of individuals with hemiplegia due to stroke, individuals with spinal cord injuries at levels T4 to L5, and individuals with spinal cord injuries at levels of T3 to C7 (ASIA D), in accordance with device’s labeling. The Ekso GT is the first exoskeleton cleared by the FDA for use with stroke patients.
Ekso GT is a wearable robotic exoskeleton that enables individuals to stand up and walk over ground with a full weight bearing, reciprocal gait in a clinical setting. To date, the Ekso has helped patients take more than 41 million steps in over 115 rehabilitation institutions around the world. This clearance from the FDA is a big step, especially when you consider that each year, an estimated 375,000 people suffer a spinal cord injury globally and an estimated 17 million people suffer a stroke. Over 60% of acute stroke survivors are unable to walk or need intervention in walking.
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Currently trading at a $106 million market valuation EKSO is fully funded moving forward with plenty of cash in the treasury, manageable debt and fast growing revenues. EKSO is also one of the most exciting stocks in small caps fast becoming a leader and pioneering the field of robotic exoskeletons, or wearable robots; their first commercially available product called Ekso has helped thousands of people living with paralysis take millions of steps not otherwise possible. EKSO has a proven ability to raise large sums of money and they already have their eye on a bigger exchange; if ESKO can start turning a profit the sky is the limit. We will be updating on EKSO when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with EKSO.
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Disclosure: we hold no position in EKSO either long or short and we have not been compensated for this article.