Losses up for ReWalk in third quarter
WBJ File
ReWalk CEO Larry Jasinski
Despite an increase in revenue by 20 percent, net losses hit $7.9 million for the Marlborough medical device firm ReWalk Robotics in the third quarter.
Those losses were up by $1.5 million compared to the third quarter of 2015, according to a release from the company. ReWalk is the first company to bring an exoskeleton to market for those with spinal cord injuries and it placed 23 units in the quarter, adding up to 80 for the year to that point. These sales and conversions of prior period rentals were the source of a rise in revenue that was up to $1.4 million for the quarter, according to ReWalk.
The company completed a $12.2-million public offering of ReWalk ordinary shares and warrants after the end of the quarter and had $12.4 million on hand prior to the public offering.
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