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Tuesday, November 10, 2020 7:28:10 AM
MARLBOROUGH, Mass. and BERLIN, Germany and YOKNEAM ILIT, Israel, Nov. 10, 2020 (GLOBE NEWSWIRE) -- ReWalk Robotics Ltd. (Nasdaq: RWLK) ("ReWalk" or the "Company") today announced its financial results for the three and nine months ended September 30, 2020.
Highlights of and subsequent to the third quarter of 2020 include:
-- Total revenue for the third quarter of 2020 was $0.7 million, compared to
$1.2 million in the prior year quarter;
-- Received Medicare Provider certification from the Centers for Medicare &
Medicaid Services ("CMS");
-- Completed additional contract with a German payor; and
-- Raised total of approximately $9.0 million in gross proceeds from a
registered direct offering of ordinary shares and a concurrent private
placement of unregistered warrants to purchase ordinary shares (as
previously referenced in ReWalk's Second Quarter 2020 Financial Results).
"Our most important measurements in the quarter were the achievements with CMS certification and the additional German insurance contract as they are the strategic drivers of growth for our company," said Larry Jasinski, Chief Executive Officer. "The revenue for the quarter was impacted by the limited market access to train and process insurance submissions due to the current environment. We anticipate that our results will remain choppy until COVID-19 restrictions lessen."
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IMHO now with Eli Lilley announcement this a.m. and Pfizer news yesterday regarding "covid serum", everything going forward in all industries should see positive results. It is only Liberal Socialists who are trying to spread fear, negativity via media that the world is ending for everyone globally...
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