EKSO BIONICS HOLDING (OTCBB:EKSO) Shipped 64 Devices in 4Q2014

EKSO BIONICS HOLDING (OTCBB:EKSO) reported that it shipped 64 devices in 4Q2014,up 250% over 2013. As of now, it has rented or sold more than 110 units to almost 80 clients. The utilization continues to rise with nearly 17 million steps reported since the sale of first Ekso unit in 2012.

The company confirmed the start of a nine-center Pan-European study evaluating how the EKSO GT can enhance the clinical results for SCI patients and can record a reduction in secondary complications associated with spinal cord injury.

The management view

Nathan Harding, the Chief Executive of Ekso Bionics stated that the support of customers and stakeholders and the hard work of company’s team made it possible to record such a strong progress in the first year as a public entity. The year resulted in strong growth in all segments. The YOY shipments of medical devices in Africa, the Middle East, and Europe are up over 300%, and it stands at 150% in North America.

The Ekso laboratories revenue surged over 40%. The company has now tracked more than 17 million steps recorded in Ekso medical devices, with fantastic safety record. The U.S. Special Operation Command acknowledged company’s exoskeleton capabilities by granting a second phase grant for TALOS project.

Management change

Ekso Bionics expanded Board of Directors to six with the addition of Stanley Stern. The company filed a 510(k) form with respect to its Ekso GT robotic exoskeleton last year. It is working together with the FDA to meet the regulatory guidelines stemming from the development of another Class II product classification for medical exoskeletons in the U.S.

Ekso Bionics concluded a warrant solicitation in which warrants holders to buy 22.8 million shares of company’s common stock choose to exercise their $2.00 warrants at an exercise price of $1.00 a share, resulting in $21.4 million as net proceeds.

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