Just because stock trades in a range it does not mean that it should be ignored. It is often seen that a stock breaks out strongly after having consolidated in a range for a while. Hence, it could be a good idea for investors to consider taking a look at the BIONIK Laboratories Corp (OTCMKTS:BNKL) stock this morning, which had been trading in a range yesterday.
In addition to that, it is also interesting to note that the stock had also been in the news yesterday and that is perhaps one more reason why it may be a good idea to take a look at the latest development so that one can make his mind about the stock, one way or another.
On Thursday, BNKL stock ended flat at $1 with more than 12 shares, compared to its average volume of 32 shares. The stock moved within a range of $1.0000 – 1.0000 after opening trade at $1.
BIONIK Laboratories Announces the Sale & Installation of a New InMotion® ARM/HAND Robotic Device to Tampa General Hospital for its Rehabilitation Center
The robotics company, which is focused on the healthcare sector, was in the news yesterday after it announced that the Tampa General Hospital had bought and installed the InMotion® ARM/HAND Interactive Therapy System at a rehabilitation hospital that it owns.
Tampa General Hospital is part of the Kindred Healthcare network and the latest move was part of its initiative to offer intense, customized rehabilitation services to individuals. It is going to be especially applied when it comes to the rehabilitation of those who may be recovering from neurological conditions, stroke or brain injury.
The InMotion® ARM/HAND Interactive Therapy System is one of the more important products from BIONIC and is currently sold in as many as 15 nations for the purpose of helping with the recovery of people who may have suffered a stroke.
Although the investors did not really react to the news, it ought to be noted that the development was a significant one for BIONIC and could open up the doors for more such deals if the whole thing turns out to be a success.
The Chief Financial Officer and interim Chief Executive Officer of the company Richard Russo Jr spoke about the situation as well. He noted that the device is going to provide the personnel at the hospital is new-age technology that is going to prove to be highly effective.
“The InMotion device will provide TGH’s clinicians with an invaluable technology that will offer each of their patients effective and efficient therapy sessions, allowing them to track upwards of 1,000 movements per session,” said Richard Russo, Jr., interim CEO and Chief Financial Officer of BIONIK. “We are thrilled to be working with Tampa General Hospital as we continue to expand our presence with the Kindred network to reach more patients.”