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BIONIK Laboratories Announces Third Quarter Fiscal 2020 Financial Results
BIONIK Laboratories Announces Third Quarter Fiscal 2020 Financial Results.
About this update from Bionik Laboratories Corp.
[{"type":"text","content":"\nBIONIK Laboratories Corp. (OTCQB: BNKL) (\"BIONIK\" or the \"Company\"), a robotics company focused on providing rehabilitation and assistive technology solutions to individuals with neurological and mobility challenges from hospital to home, today announced financial results for the third quarter of fiscal year 2020, ended December 31, 2019.\n\n\nFinancial information for the third quarter of fiscal 2020:\n\n\n\nYear to date sales for the nine months ended December 31, 2019 are $1,230,074.\n\n\nReported sales of $158,005 compared to $930,257 in the prior-year quarter; the decrease from the prior period was primarily due to the delay in receiving a purchase order for six robots received in early January 2020 that the Company expected to receive before December 31, 2019, and the inability by its Chinese JV partner to import robotic devices in China.\n\n\n\nCorporate highlights for the third fiscal quarter and recent weeks include:\n\n\n\nCompleted rollout of upgraded version of the InMotion® ARM/HAND robotic device to the market.\n\n\nThe Company wrote off in the third fiscal quarter the sale of three InMotion® ARM/HAND robotic devices sold to its Chinese JV, after the Company had to cancel the sale of five InMotion® ARM robotic devices sold to the Chinese JV, due to the inability to import robotic devices to China.\n\n\nReceived regulatory approval from the South Korea Food and Drug Ministry for the Company's InMotion® ARM; days later the Company's exclusive distributor in South Korea reported its first sale of the InMotion® ARM to SeoSung Rehabilitation Hospital, opening March 1, 2020.\n\n\nReleased a new Graphic User Interface on all new InMotion® robots at the end of 2019.\n\n\nPartnered with Intelliware to meet the data connectivity needs of hospitals and healthcare facilities utilizing sensored technologies by providing seamless connectivity between InMotion® robotic devices and hospital information systems. BIONIK’s new InMotion® Connect platform targets the critical need to link patient centric rehabilitation results to patient management portals and electronic medical records (EMR) to any hospital or rehabilitation facility.\n\n\nPartnered with Propel to accelerate new product development and manufacturing of InMotion® robotic systems and services through enhanced Prod...