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If there is any OTC market company, which is doing simply better than it is EKSO BIONICS HOLDING (OTCBB:EKSO), which ran up to close above $2 in the last trading session. The stock attained such highs for the first time since 2014. However, the rally in the stock could not be connected to any immediate press release or new information except a series of updates released around March 25, 2015.

Recent developments

In the most recent development, analyst Sterne Agee initiated its coverage on the stock with a ‘Buy’ rating. But, it had a minimal contribution to the jump in the stock over the last few days. Also, a bunch of promotional materials are making rounds in the market, which makes little sense given the product catalog of the company. Anything that is worthy to be taken into consideration is EKSO BIONICS HOLDING (OTCBB:EKSO)’s annual report for the year 2014. The company disclosed cash balance of $25 million while its current liabilities are worth $6 million. The company has annual revenue of $5.3 million and $33 million in annual net loss.

Enough cash

EKSO BIONICS HOLDING (OTCBB:EKSO) holds view that its cash balance is enough to run the business until second-quarter of 2016 given its monthly cash expenditure of $1.25 million. The company said that it might not need to seek financing till they said period. Also, the need for cash appears little urgent as the company raised financing as recently as November. EKSO BIONICS HOLDING (OTCBB:EKSO) had trimmed the exercise price of issued warrants by nearly 50% from $2 to $1, which resulted in the exercise of warrants to buy 22.8 million shares.

The company has robotic exoskeletons in its offering, which assists people with severe disabilities to stand on their feet and function normally. The stock of EKSO BIONICS HOLDING (OTCBB:EKSO) touched $2.09, reflecting an increase of 5%, during the last trading session coupled with an average volume of 650,037 shares.

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