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News coverage of Bionik Laboratories Corp (OTC: BNKL) typically focuses on product launches, clinical partnerships, distribution agreements, and expansion of the company's InMotion robotic rehabilitation platform. Media attention often centers on installations of InMotion systems at major hospitals and rehabilitation centers, highlighting the adoption of robot-assisted therapy in stroke recovery and neurological rehabilitation programs.
Press releases and business news frequently announce distribution agreements that extend Bionik's geographic reach, particularly in international markets. These announcements detail partnerships with medical equipment distributors that obtain exclusive rights to market and sell InMotion devices in specific countries or regions. Such agreements represent key milestones in the company's strategy to expand beyond its initial market presence.
Product development news highlights updates to the InMotion platform, including next-generation versions of the ARM and ARM/HAND systems. Coverage of these launches typically describes improvements in industrial design, system capabilities, and features aimed at enhancing clinical usability and patient outcomes. The company has announced product updates that reduce device footprint while maintaining therapeutic functionality.
Clinical partnership announcements detail relationships with hospital networks and rehabilitation providers that deploy multiple InMotion systems across affiliated facilities. These partnerships often involve significant installations that position robot-assisted therapy as a standard offering within integrated healthcare systems. News coverage may include details about patient volume at facilities utilizing the technology.
Acquisition news has included the company's purchase of Interactive Motion Technologies (IMT), the original developer of the InMotion platform, which represented a strategic consolidation of intellectual property and manufacturing capabilities. The company has also announced acquisitions of rehabilitation facilities where InMotion devices are deployed for patient care.
Industry event participation generates coverage when Bionik displays InMotion systems at medical conferences, rehabilitation technology exhibitions, and healthcare equipment shows. These events provide opportunities for demonstration of the robotic platforms to potential customers and clinical stakeholders in international markets.
Regulatory and business development news may cover topics such as device certifications, quality system updates, and operational changes. Financial news typically focuses on quarterly results, revenue figures, operational expenses, and business outlook, though the company's OTC market status may result in less frequent coverage compared to exchange-listed medical device companies.
BIONIK Laboratories Corp. (OTC Pink: BNKL) reported a significant decline in revenue for Q1 FY 2023, with only $0.2 million compared to $0.7 million in Q1 FY 2022, a decrease of 64%. The net loss widened to $1.4 million, or $(0.20) per diluted share, from a loss of $0.5 million, or $(0.08) per diluted share, in the prior year. Total operating expenses increased by 15% to $1.5 million, driven by higher sales and marketing and R&D investments. Despite these challenges, the company has a robust sales pipeline and raised $0.5 million from existing investors, indicating confidence in future growth.
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
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.
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