** Shares of Control Bionics rise 17.1% to A$0.082, on track for the best day since Aug. 19, if current gains hold

** Stock hits highest level since Sept. 12

** Medical device co received approvals of about A$400,000 ($273,720) from Australia's National Disability Insurance Scheme (NDIS) over the past eight weeks

** Amount higher than what co received from NDIS over last five months

** Says approvals will be recognized as revenue after devices are shipped to customers

** Stock adds ~22.4% in value so far this week, set for best week since Aug. 2

** More than 341,000 shares change hands by 0519 GMT, 1.4X 30-day avg volume of shares

** Stock up ~78.3% YTD, including current session's moves

($1 = 1.4603 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))