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Robotic legmaker sees dip in fortunes

By Bloomberg | China Daily | Updated: 2015-03-24 08:10

Six months after watching its share price soar threefold in the first two days of trading, ReWalk Robotics Ltd is just about right back where it started.

Since the rally following its initial public offering in September, the Yokneam, Israel-based company - which makes exoskeletons that help paraplegics walk - has tumbled 64 percent to $13.26. That's just 10 percent above its IPO price of $12 a share.

Investors have grown skeptical over the company's ability to stem widening losses as it seeks to develop a market for its flagship ReWalk robotic device. The only equipment maker with approval from the US Food and Drug Administration still faces near-term challenges marketing the product and getting insurers to cover its price tag of about $71,000, according to Matthew Taylor, an analyst at Barclays Plc.

Robotic legmaker sees dip in fortunes

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