Lifeward Ltd. LFWD stock is trading higher on Thursday after the company announced that its ReWalk 7 received 510(k) clearance from the Food and Drug Administration (FDA).

What To Know: The FDA granted marketing approval for the ReWalk 7, which is a wearable exoskeleton that allows individuals with spinal cord injury to stand and walk again.

“FDA clearance is a major milestone for our Company and for the industry,” said Larry Jasinski, CEO of Lifeward.

“For two decades, Lifeward has been committed to providing our users with the most advanced exoskeleton technology and expanding access to all those who can benefit from use of the device. With the ReWalk 7, we are able to deliver on that commitment, and will continue to look for opportunities to innovate and improve upon medical devices for the SCI community.”

Sales of the ReWalk 7 will begin in the United States as soon as the product is available.

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LFWD Price Action: At the time of writing, Lifeward shares are trading 43.5% higher at $2.10, according to data from Benzinga Pro.

Image: This illustration was generated using artificial intelligence via Midjourney.