Microbot Med Inc Stock Price, News & Analysis

Microbot Medical (Nasdaq: MBOT) has appointed Paul Mullen as Vice President of Sales, marking the company's first commercial hire as it prepares for the anticipated FDA clearance of its LIBERTY® Endovascular Robotic System in Q2 2025.

Mullen, who will report to CEO Harel Gadot, joins from Inari Medical (recently acquired by Stryker for $4.94 billion), where he served as Director of Sales and played a key role in launching breakthrough thrombectomy devices. His experience includes successful launches of devices treating chronic venous disease affecting over 1,000,000 U.S. patients.

Prior roles include positions at Philips Volcano's endovascular division and LeMaitre Vascular, where he managed sales teams and launched multiple technologies. His immediate responsibilities at Microbot Medical will focus on building sales strategy and infrastructure for the LIBERTY® system launch.

Microbot Medical Inc. (NASDAQ: MBOT) announced a significant milestone in its collaboration with Corewell Health™ on robotic telesurgery for endovascular applications. Research demonstrating the feasibility of using the LIBERTY® Endovascular Robotic System between separate facilities 5 miles apart in a coronary simulation model has been accepted for presentation at the Cardiovascular Research Technologies (CRT) annual meeting on March 10, 2025.

The study, led by Dr. Ryan Madder, Section Chief of Interventional Cardiology at Corewell Health™, will be presented by Dr. Trisha Gomez and published in the Journal of the American College of Cardiology (JACC) Interventions. Dr. Madder noted that the LIBERTY® system "functioned well in a telerobotic setting" with its small footprint and disposable design creating "exciting possibilities for future telerobotic endovascular procedures."

Microbot's CEO Harel Gadot emphasized that telesurgery capabilities are an important part of their long-term strategy, potentially increasing access to quality healthcare for patients in remote locations. The telesurgery feature is still under development and not covered under Microbot's pending 510(k) submission with the FDA.

Microbot Medical (MBOT) has successfully closed a registered direct offering, raising $13 million through the sale of 6,103,289 common stock shares at $2.13 per share. The company also issued unregistered short-term series I preferred investment options in a concurrent private placement, allowing the purchase of up to 12,206,578 additional shares at $2.13 per share, exercisable for two years following stockholder approval.

The net proceeds will fund the development, commercialization, and regulatory activities for the LIBERTY® Robotic System, expand applications from the company's IP portfolio, and provide working capital. H.C. Wainwright & Co. served as the exclusive placement agent for the offerings.

Microbot Medical (Nasdaq: MBOT) has announced a $13 million registered direct offering priced at-the-market, selling 6,103,289 shares of common stock at $2.13 per share. The company is also conducting a concurrent private placement of unregistered short-term series I preferred investment options.

These investment options allow the purchase of up to 12,206,578 additional shares at $2.13 per share, exercisable for two years following stockholder approval. The closing is expected around February 11, 2025, with H.C. Wainwright & Co. serving as the exclusive placement agent.

The net proceeds will fund the development and commercialization of the LIBERTY® Robotic System, expand applications from existing IP portfolio, and provide working capital. The offering is made under a previously filed S-3 registration statement, while the preferred investment options are issued under Section 4(a)(2) of the Securities Act.

Microbot Medical (Nasdaq: MBOT) announced the acceptance of a late-breaking abstract for presentation at the Society of Interventional Radiology (SIR) annual meeting in Nashville from March 29 - April 2, 2025. The presentation will feature first-time data from the ACCESS-PVI trial, a prospective, multicenter, single-arm study evaluating the performance and safety of the LIBERTY® Endovascular Robotic System in peripheral vascular interventions.

The presentation titled 'Remote-controlled endovascular navigation with a miniature, single-use, robotic system. Results of the ACCESS-PVI trial' will be delivered by Dr. Francois Cornelis from Memorial Sloan Kettering Cancer Center on April 2, 2025. The company views this acceptance as significant since the conference attendees represent potential LIBERTY® system users.

Microbot Medical (Nasdaq: MBOT) has appointed Michal Ahuvia as Director of Operations to support the anticipated commercial launch of its LIBERTY® Endovascular Robotic System in Q2 2025. Ahuvia, who brings over 20 years of operations experience, will focus on ramping up production and improving efficiencies in preparation for commercialization.

Reporting to Simon Sharon, the Company's General Manager and Chief Technology Officer, Ahuvia will be responsible for strengthening manufacturing and operations processes. Her extensive background includes roles at Philips Healthcare, Nanomotion, XACT Robotics, and Jordan Valley, with expertise in process transformation, performance improvement, material planning, production, logistics, and supply chain management.

Microbot Medical (Nasdaq: MBOT) has elected David J. Wilson to its Board of Directors, strengthening its commercial capabilities as it prepares for the launch of the LIBERTY® Endovascular Robotic System. Wilson brings over 30 years of healthcare executive experience, including two decades at Johnson & Johnson where he served as Worldwide President of Cordis. He is currently CEO of InnovHeart and previously led Global Plasma at Haemonetics

The appointment aligns with Microbot's transition to a commercially focused organization, with the LIBERTY® system expected to launch in Q2 2025. Wilson replaces Yossi Bornstein, who served on the board since before the company went public in 2016. Wilson holds numerous medical device patents and has extensive experience in business strategy, R&D, and commercial product launches in the endovascular devices market.

Microbot Medical (Nasdaq: MBOT) has successfully closed its previously announced registered direct offering, raising $8.6 million in gross proceeds. The offering included 3,788,550 shares of common stock priced at $2.27 per share. Additionally, in a concurrent private placement, the company issued unregistered short-term series H preferred investment options to purchase up to 7,577,100 shares at $2.10 per share, exercisable immediately for two years.

The net proceeds will fund the continued development, commercialization, and regulatory activities for the LIBERTY® Robotic System, expand applications from existing IP portfolio, and provide working capital. H.C. Wainwright & Co. served as the exclusive placement agent for the offerings.

Microbot Medical (MBOT) has announced a registered direct offering priced at-the-market, selling 3,788,550 shares of common stock at $2.27 per share. The company will also issue unregistered short-term series H preferred investment options in a concurrent private placement, allowing the purchase of up to 7,577,100 shares at $2.10 per share, exercisable for two years.

The offerings, expected to close around January 9, 2025, will generate approximately $8.6 million in gross proceeds. H.C. Wainwright & Co. serves as the exclusive placement agent. The net proceeds will fund the development and commercialization of the LIBERTY® Robotic System, expand applications from existing IP portfolio, and provide working capital for general corporate purposes.