• Peloton shares climbed Thursday after the company said it would release a rear safety guard for its recalled Tread+ treadmill.
• The Tread+ treadmill has been at the heart of safety concerns surrounding Peloton in recent years, after a young child died under one in 2021.
• The new safety guard will be available later this year.

Peloton said Thursday it would release a rear safety guard for its Tread+ treadmill, working with the U.S. Consumer Product Safety Commission.

The stock closed nearly 3% higher on Thursday.

The Tread+ treadmill has been at the heart of safety concerns surrounding Peloton in recent years. Sales for the treadmill have been halted since a young child died under a Tread+ treadmill in 2021.

Since the recall, there have been 279 more reported incidents and 61 reports of injuries, Peloton and CPSC said in a joint statement.

The safety guard will be offered free of charge to people who own a Tread+ treadmill, the company said in a release.

Customers can register in advance to receive the guard. It is still being manufactured and is expected to be available in the fall.

Following the 2021 recall, Peloton told Tread+ treadmill owners to stop using the product.

The new guard has a breakaway design that moves away from the treadmill when it touches an object, which turns off power and decelerates the belt. It aims to eliminate the potential for entrapment near the treadmill's rear, which is primarily what caused incidents in the past.

"As a brand dedicated to empowering Members on their fitness journey, Peloton remains committed to ensuring they have access to our world-class fitness experiences in the safest way possible," the company said.

In addition to the Tread+ treadmill's woes, other safety concerns have plagued Peloton in recent years.

Amid the mounting concerns, the company changed its stance on recalls in recent weeks.

Last week, when the CPSC recalled 2.2 million Peloton bikes over safety concerns, Peloton cooperated, saying it was "important to proactively engage the CPSC to address this issue and to work swiftly and cooperatively to identify a remedy."

A part defect on model number PL01 bikes led to 12 reported injuries, including one wrist fracture, according to an internal Peloton memo.

Previously, the company was slow to cooperate with officials and expressed disagreement over potential flaws. Peloton said it took action, despite the relatively small number of affected bikes, because it was a "member-first company," according to the internal memo.

Earlier this month, the company posted a wider-than-expected loss for its fiscal third quarter while forecasting its first-ever decline in subscribers.