Ekso Bionics Stock Price: When the 135% surge is only the beginning, FDA seal to trigger 50% extra boost

Ekso Bionics Holdings Inc is projected to rise by another 50% after 135% on Thursday.
NASDAQ: EKSO's FDA license to use a robotic exoskeleton is behind the move.
Further developments depend on the potential for sales.

Yohay Elam FXStreet

NASDAQ: EKSO is set to surge another 50% according to pre-market trading data – touching $11 after closing at $7.30 on Thursday – an increase of over 135%.

While the world is focusing on coronavirus and potential vaccines, this Richmond, California based company is providing solutions for other medical issues. Ekso Bionics Holdings has received approval from the Food and Drugs Administration to use its robotic exoskeleton for patients with an acquired brain injury.

Staying alive – either surviving COVID-19 or a car accident – is one thing, but enjoying a better quality of life is another. The FDA 401 clearance allows Ekso, trading under NASDAQ: EKSO, to market and sell its EksoNR product for ABI patients. The company has an advantage as it is the first to receive such approval.

People that suffer from ABI may struggle to recover from concussions, aneurysms, strokes, brain tumors, degenerative and metabolic conditions, surgical injuries, anoxia, or brain tumors. There are around 84 million global potential patients and 3.7 million in the US.

Also suffered from a drop in sales amid the coronavirus pandemic, but may now see a surge in demand as problems such as ABI have not gone away. Investors certainly seem enthusiastic about the prospects of the company led by Jack Peurach.

NASDAQ: EKSO

Ekso Bionics Holdings is worth some $55 million after the latest surge and has had its share of volatility. The 52-week low was $2.25, so it has already tripled its price from that trough. On the other hand, it traded at $20.85 at the highest point in these 52 weeks.

Just before the surge, NASDAQ: EKSO had dropped to nearly $3. Reaching $11 means more than tripling its price within less than three days.

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

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