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Re: skepticone post# 415

Friday, 11/09/2018 12:22:18 PM

Friday, November 09, 2018 12:22:18 PM

Post# of 1471
Per Jasinski, they are still talking with Timwell but if they can't reach an agreement quickly, they have alternative pathways in China. As I said before, I don't think they will be able to come to an agreement with Timwell. Whether they actually have alternative solid pathways in China is to be seen.

Other notes:
First the factual ones:
- They finished enrolling patients for the Restore study
- They have applied for CE clearance in Europe for Restore (November 1st)
- They are going to apply for FDA clearance in the next few months
- They got their first Rewalk 6.0 sale via VA Choice program
- Expecting $2 to $3 million in sales for Q4 2018
- They have applied for a broad coverage with a Top 5 insurer in US. Expecting a decision in Q4 2018
- They have delivered their 500th Rewalk system in Q3 2018.

Jasinski's other statements (which needs to be taken with a grain of salt):
- Rewalk is not experimental company anymore (referencing to recommendations by Triumph)
- Expecting increased coverage for Rewalk from this point on
- Start selling Restore mid 2019 or Q3 2019 in Europe and US
- Restore uses existing reimbursement codes, it is significantly lighter, and it is significantly cheap. So market penetration should be faster than Rewalk 6.0.

Goals for 2019:
- Demonstrate sales growth in Germany and US for Rewalk 6.0
- Establish a US commercial policy for Rewalk
- Complete CE and FDA clearances for Restore and launch Restore
- Secure a distribution partner in China

Expectations are positive but unless they can secure financing, they cannot sustain operations. Their numbers don't look good but I want to see how Restore plays out. So I am going to wait a few more quarters. But there is a moderate chance that I will lose most of my investment in Rewalk.
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