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- Going Concern (worsened) — Accumulated deficit increased from $264.8M to $284.7M; cash dropped from $6.7M to $2.2M; survival now explicitly depends on closing Oramed transaction.
Lifeward secures Oramed financing, cedes 49.99% equity; FDA clears ReWalk 7 amid cash burn
Filed March 18, 2026 · Period ending December 31, 2025 · Compared to 10-K Mar 7, 2025 · ~2 min read
Key Changes
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Company entered $20M secured convertible note deal with Oramed, granting Oramed up to 49.99% equity ownership, four board seats, and 4% revenue share on ReWalk sales. Transaction includes $4M bridge loans at 15-24% interest secured by cash.
MD&A: Oramed Transaction verify on EDGAR → -
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Cash declined from $6.7M to $2.2M year-over-year; accumulated deficit grew to $284.7M. Going-concern warning persists, with survival now explicitly tied to closing the Oramed deal.
Risk Factors: Liquidity verify on EDGAR → -
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FDA cleared ReWalk 7 exoskeleton (March 2025) and CE Mark approved (September 2025), enabling next-gen device sales in U.S. and Europe. Administrative Law Judge ruled ReWalk 'reasonable and necessary' for Medicare coverage (June 2025).
Business: Product Approvals verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Source-verified from EDGAR · Narrative written by AI · Jun 4, 2026 · How we verify