Microbot Med Inc Stock Price, News & Analysis

Microbot Medical (NASDAQ: MBOT) bolsters its Scientific Advisory Board (SAB) with the addition of Dr. Thierry Jacques De Baère, renowned head of the Interventional Radiology Unit at Institut Gustave Roussy in France. The SAB now includes 11 leading experts from the U.S., Europe, and Israel, enhancing support for the LIBERTY® Robotic System. This system, the first fully disposable robotic platform for endovascular procedures, aims to advance regulatory and commercialization goals. Dr. De Baère praises LIBERTY's reliability and ease of use, indicating strong potential for improving patient outcomes.

Microbot Medical Inc. (Nasdaq: MBOT) has completed a registered direct offering with an institutional investor, raising approximately $5 million. The offering involved 1,022,495 common shares sold at $4.89 each, including pre-funded warrants. Concurrently, the company issued unregistered series A and B preferred investment options. The funds will support the development and commercialization of the LIBERTY® Robotic System, among other uses. H.C. Wainwright & Co. acted as the placement agent for these offerings.

Microbot Medical (Nasdaq: MBOT) announced a definitive agreement to sell 1,022,495 shares of common stock at $4.89 per share, generating approximately $5 million in gross proceeds. The offering includes pre-funded warrants for 240,000 shares and options for the purchase of additional shares at $4.64 each. The net proceeds will fund the development of the LIBERTY® Robotic System and other corporate purposes. The transaction is slated to close around October 25, 2022, subject to customary conditions. H.C. Wainwright & Co. is the exclusive placement agent.

Microbot Medical (Nasdaq: MBOT) has submitted a follow-up pre-submission package for its LIBERTY^® Robotic System, aiming for alignment with the FDA as it prepares for an Investigational Device Exemption (IDE) submission and a first-in-human clinical trial in 2023. The company has reported constructive engagement with the FDA, which is seen as encouraging for their upcoming regulatory steps. The LIBERTY system is part of Microbot's multi-generation portfolio focused on advanced micro-robotic technologies.

Microbot Medical Inc. (Nasdaq: MBOT) has completed a significant GLP animal study for its LIBERTY® Robotic System, the first disposable robotic system aimed at endovascular procedures. Conducted at a top MedTech research lab, the study achieved a successful navigation rate of 92% for the robotic system, while demonstrating no evidence of acute vascular injury. Physicians graded the LIBERTY system highly for usability, indicating a quick setup and easy learning curve. However, the LIBERTY Robotic System is still investigational and has not yet received FDA clearance for use.

Microbot Medical Inc. (Nasdaq: MBOT) has suspended the development of its Self-Cleaning Shunt (SCS) project to focus on the LIBERTY® Robotic System. This strategic shift follows positive developments, including the acquisition of endovascular assets from Nitiloop Ltd. and plans for a First-in-Human trial. The company will explore opportunities for the SCS assets, such as licensing or joint ventures. Microbot is on track with key milestones for the LIBERTY system through 2023, aiming to enhance shareholder value.

Microbot Medical (Nasdaq: MBOT) announced a new patent allowance from the Israeli Patent Office for its LIBERTY^® Robotic System, specifically covering its roll assembly mechanism. This expansion of the intellectual property portfolio underscores the company's commitment to developing innovative micro-robotic technologies aimed at improving patient care accessibility. CEO Harel Gadot emphasized the importance of these capabilities in realizing their vision of disposable robotics that enhance healthcare worldwide.

Microbot Medical (NASDAQ: MBOT) has acquired the assets of Nitiloop Ltd., which includes the FDA-cleared NovaCross™ family of microcatheters. This acquisition aims to enhance the LIBERTY® Robotic System's capabilities, promoting robotics in endovascular procedures. The NovaCross™ devices are designed for navigating chronic total occlusions (CTO) and will potentially standardize procedures while increasing access to robotic technology globally. The move opens a significant growth opportunity in the $500 million CTO market, aligning with Microbot's strategic mission for global accessibility in medical technologies.

Microbot Medical Inc. (Nasdaq: MBOT) announced the appointment of Dr. David C. Madoff to its Scientific Advisory Board. Dr. Madoff, a renowned interventional radiologist from Yale School of Medicine, brings extensive clinical research experience that is expected to enhance the company's efforts in advancing the LIBERTY® Robotic System through regulatory phases. His expertise in interventional oncology and numerous publications position him to significantly contribute to Microbot's mission of improving clinical outcomes and accessibility in healthcare.