Bionik Labo Stock Price, News & Analysis

Bionik Laboratories Corp (OTC-PINK: BNKL) will showcase its InMotion® Robots at the Korea International Medical & Hospital Equipment Show (KIMES) from March 23-26, 2023. Partnering with Curexo, the exclusive distributor in South Korea, Bionik aims to demonstrate their innovative technology for stroke recovery. The InMotion® Robots allow patients to perform 600-1,000 movements per hour, significantly enhancing rehabilitation outcomes. Recent studies indicate a 15-20% improvement in patients over a two-week period. Bionik continues to expand in the Asian market, having received regulatory approval from the South Korean Ministry of Food and Drug Safety in 2020.

Bionik Laboratories Corp. (OTCPINK: BNKL) announced its financial results for Q3 and the first nine months of FY 2023, reporting significant growth. Revenue for Q3 reached $0.6 million, a 214% increase compared to Q3 FY 2022. The company shipped five units during this quarter, with nine-month revenue totaling $1.3 million, representing a 20% increase over the same period last year. However, the net loss narrowed to $1.1 million in Q3 from $7.0 million in Q3 FY 2022, showcasing improving operational efficiency. Gross profit for Q3 was $0.3 million, up 104%, yet gross margin fell to 47% due to higher costs. Bionik continues to expand its network of neuro recovery clinics.

Bionik Laboratories Corp. (OTCPINK: BNKL) reported a 113% revenue increase for Q2 FY 2023, reaching $0.5 million vs. $0.2 million in Q2 FY 2022, attributed to three direct unit sales. The company launched a Centers of Excellence strategy, acquiring its first center in Clermont, FL. Operating expenses rose 19% to $1.4 million, pushing the net loss down to $1.1 million or ($0.16) per share. Despite a revenue decline of 19% over six months, management is optimistic about growth from the new strategy.

Bionik Laboratories Corp (OTCPINK:BNKL) will present at the 2022 Investor Summit Q4 Micro-Cap Conference on November 14, 2022, at 9:00 AM (ET). The presentation will be led by President & CEO Richard Russo Jr., who will outline the company’s new strategic direction and 2022 achievements. Attendees can join the live webcast for free. Bionik focuses on robotics solutions for neurological recovery, aiming to enhance the quality of life for individuals with mobility impairments. The conference includes over 90 companies and 500 investors across various sectors.

Bionik Laboratories Corp (OTC-PINK: BNKL) has announced the appointment of Richard Russo, Jr. as CEO and Dan Gonsalves as CFO, both effective immediately. The new leadership will execute a growth strategy centered on establishing ‘Centers of Excellence’ for neuro-recovery care, expanding global markets, improving data collection, and advancing technology. Bionik’s InMotion robotic devices are currently deployed in 450 locations globally, with plans to enhance accessibility and patient outcomes in the neurorehabilitation market projected to reach $4.9 billion by 2028.

Bionik Laboratories Corp. (OTC-PINK: BNKL) has announced the acquisition of a profitable rehabilitation center in Clermont, FL. This facility is expected to be transformed into a specialized neuro-recovery center showcasing Bionik's innovative technology for treating patients with neurological challenges, including stroke and spinal cord injuries. The acquisition is financed through a secured convertible loan from an existing investor, indicating confidence in the company's growth strategy. Bionik aims to leverage this acquisition to diversify its revenue streams and capitalize on the expanding $43 billion US physical therapy market.

BIONIK Laboratories Corp. (OTC PINK:BNKL) announced that Richard Russo, Interim CEO, will present a corporate overview at the upcoming National Investment Banking Association (NIBA) conference on September 8, 2022. The event will take place at the Margaritaville Hollywood Beach Resort, Florida. Following the presentation, BIONIK management aims to engage with investors and industry experts. The company specializes in rehabilitation solutions for stroke survivors and those facing mobility challenges. For additional company information, visit www.BIONIKlabs.com.