Bionik Labo Stock Price, News & Analysis

BIONIK Laboratories Corp. (OTC Pink: BNKL) is set to present at the Q3 Virtual Investor Summit on August 16, 2022 at 2:45 PM ET. Rich Russo, the CFO and Interim CEO, will provide a corporate overview and connect with institutional investors. This summit, featuring over 90 companies and 500 investors, focuses on various sectors including healthcare and technology. Qualified investors can register for complimentary access to the event. For more information, visit www.BIONIKlabs.com.

BIONIK Laboratories (OTC-PINK: BNKL) is expanding its reach through the Kindred Healthcare network, with a recent installation of the InMotion® ARM/HAND Interactive Therapy System at Tampa General Hospital. This partnership aims to enhance rehabilitation for stroke and brain injury patients. The InMotion® systems, now in over 15 countries, have shown patient improvements of 15-20% in motor control during therapy. The number of hospitals using InMotion® devices has tripled since 2019, supporting more than 250 patients monthly, significantly increasing BIONIK's visibility in the rehabilitation sector.

BIONIK Laboratories Corp. reported FY 2022 financial results, ending March 31, 2022. Revenue reached $1.3 million, a 7% increase, driven by nine units sold and rising subscription sales for InMotion Connect Pulse solutions. However, Q4 revenue fell 59% year-over-year to $0.2 million due to supply chain disruptions, with only one unit sold. Operating expenses rose 18% to $1.5 million. The net loss for Q4 was $1.7 million (or $0.29/share), while annual net loss was reduced to $10.4 million ($1.78/share), aided by lower operating expenses and increased efficiency. Cash and equivalents were $2.0 million, with no debt.

BIONIK Laboratories Corp (OTC-PINK: BNKL) will showcase its innovative InMotion® ARM and ARM/HAND rehabilitation solutions at the AOTA Conference in San Antonio, Texas, from March 31 to April 3, 2022. The InMotion® technology aims to enhance motor function recovery for stroke survivors through intensive therapy, allowing tracking of up to 1,000 movements per session compared to conventional methods. BIONIK’s commitment to advancing occupational therapy aligns with AOTA's mission to improve patient care and quality of life.

BIONIK Laboratories Corp (OTC-PINK:BNKL) released a whitepaper demonstrating significant clinical benefits of its InMotion Therapy Robots for stroke patients. The study revealed that patients showed a 15-20% improvement in motor skills over 14 days, with increased therapy sessions correlating to greater gains. Specifically, improvements included 19.7% in Mean Velocity and 15.1% in Smoothness of movements. The use of InMotion robotic devices has tripled in U.S. rehabilitation centers since 2019, with over 250 patients benefiting monthly through partnerships with Kindred hospitals.

BIONIK Laboratories Corp. (OTCQB: BNKL) reported its third-quarter financial results for FY 2022, highlighting the strongest potential sales pipeline in its history. Revenue remained flat at $0.2 million due to COVID-related delays, while operating expenses decreased by 24% to $6.9 million, leading to a reduced net loss of $7.0 million, or $1.18 per diluted share. For the first nine months, revenues increased by 48% to $1.1 million, with a net loss of $8.7 million. BIONIK continues to invest strategically in sales and marketing, aiming to enhance product offerings and expand distribution.

BIONIK Laboratories Corp. (OTCQB: BNKL) announced its participation in the American Physical Therapy Association (APTA) Conference in San Antonio, Texas, from February 2-5, 2022. At the conference, BIONIK will showcase its InMotion® Arm/Hand device, which enables intensive therapy, allowing clinicians to track up to 1,000 movements per session. This technology aims to improve motor control in stroke and neurological patients. BIONIK will also present its InMotion Connect™ data analytics platform.

BIONIK Laboratories Corp. will showcase its InMotion® Robotic Therapy Systems at the MEDICA Trade Show from November 15–18, 2021, in Dusseldorf, Germany. This event is the world's largest medical industry forum, offering BIONIK the chance to highlight InMotion®'s role in rehabilitation for stroke and neurological patients. With a 72% increase in patient sessions over the past year, the company aims to expand its global distribution network, particularly in Europe. Learn more at bioniklabs.com.

BIONIK Laboratories Corp. (OTCQB:BNKL) completed a $5 million capital raise and consolidated $3.3 million in debt, strengthening its balance sheet. For Q2 FY 2022, revenue decreased by 22% to $0.2 million from $0.3 million in Q2 FY 2021, due to sales mix issues despite a 72% increase in patient sessions using InMotion technologies. Operating expenses fell by 33% to $1.2 million, helping reduce the net loss to $1.3 million from $1.6 million year-over-year. The company remains focused on expanding its sales pipeline and international reach.