ReWalk produces exoskeletons that aid in the mobility of those suffering from spinal cord injuries or an inability to walk. In the United States alone there were a reported 273,000 people living with spinal cord injuries in 2013. This number is expected to increase by an average of 12,000 new cases annually. The company estimates that roughly 80% of these cases in the United States would be eligible for current or future ReWalk products.
The company produces two products, the ReWalk Personal and the ReWalk Rehabilitation. In 2013, only 17 Rehabilitation units and eight Personal units were sold, compared to the 2012 numbers of 12 Rehabilitation units and four Personal units. These devices are priced in the $100,000 range.
In regular trading Monday, ReWalk shares were up as high as $37.70 or 47%. On Friday, share prices increased more than 100% on the day alone, and shares closed the day at $25.60, up from the open and IPO pricing of $12.
In 2013, ReWalk had revenues of $1.6 million, up from 2012, which had revenues of $1.0 million. In the first six months in 2014, the company has had $0.95 million in sales, which is a gain of 19% from 2013.
Roughly 5 million shares had been exchanged in the first hour and a half that the market was open. The stock recently traded at $35.26, and its post-IPO trading range has been $11.50 to $37.70.
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