Microbot Med Inc Stock Price, News & Analysis

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.

Microbot Medical (Nasdaq: MBOT) has successfully raised approximately $11.8 million in gross proceeds through multiple offerings. The company completed a registered direct offering of 4,000,001 shares at $1.75 per share, generating about $7 million. Additionally, they issued unregistered short-term series G preferred investment options for up to 8,000,002 shares with an exercise price of $1.75, exercisable for two years.

The company also raised approximately $4.8 million through their at-the-market facility through January 2025. H.C. Wainwright & Co. served as the exclusive placement agent. The proceeds will fund the development and commercialization of the LIBERTY® Robotic System, expand applications from their IP portfolio, and provide working capital for general corporate purposes.

Microbot Medical (Nasdaq: MBOT) has announced a $7 million registered direct offering priced at-the-market under Nasdaq rules. The company will sell 4,000,002 shares of common stock at $1.75 per share. Additionally, in a concurrent private placement, Microbot will issue unregistered short-term series G preferred investment options to purchase up to 8,000,004 shares of common stock at an exercise price of $1.75 per share, exercisable for two years.

The closing is expected around January 7, 2025, with H.C. Wainwright & Co. acting as the exclusive placement agent. The 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.

Microbot Medical (Nasdaq: MBOT) has concluded 2024 with significant achievements, including the FDA 510(k) submission for its LIBERTY® Endovascular Robotic System. Key milestones include receiving IDE approval, completing the ACCESS-PVI pivotal human clinical trial across three major US medical centers, and obtaining ISO 13485 certification. The company has initiated inventory build-up and completed two phases of telesurgery collaboration with Corewell Health. Additionally, Microbot entered an agreement with Emory University for autonomous robotics development. The company anticipates launching LIBERTY in Q2 2025 in the U.S., with plans for international expansion.

Microbot Medical announces CEO Harel Gadot's upcoming interview on Benzinga All Access on December 10, 2024, at 10:50am ET. The discussion will focus on the company's LIBERTY® Endovascular Robotic System and the growing surgical robotics market.

The company has submitted an FDA 510(k) application for the LIBERTY® system, which is the world's first single-use, fully disposable endovascular robotic system. The technology eliminates the need for expensive capital equipment while offering benefits such as reduced radiation exposure for medical staff, improved ergonomics, potential cost savings, increased procedure efficiency, and enhanced quality of care.

Microbot Medical (Nasdaq: MBOT) has submitted a 510(k) premarket notification to the FDA for its LIBERTY® Endovascular Robotic System, following successful completion of a multi-center clinical trial. LIBERTY® is the world's first single-use, fully disposable robotic system for endovascular procedures.

The company anticipates FDA marketing clearance during Q2 2025, targeting over 2 million annual peripheral vascular procedures in the U.S. The system eliminates the need for expensive capital equipment, reduces radiation exposure to medical staff, improves ergonomics, and aims to lower procedure costs while increasing efficiency.

Microbot Medical Inc. (Nasdaq: MBOT) has successfully completed enrollment and follow-up for all patients in its ACCESS-PVI human clinical trial for the LIBERTY® Endovascular Robotic Surgical System. The company is on track to file its 510(k) submission with the FDA by the end of 2024, with expected clearance during Q2 2025. Microbot Medical is accelerating its go-to-market strategy, planning to build commercial infrastructure upon FDA clearance.

The clinical trial results will be shared at a medical conference in early 2025. The company's Chief Medical Officer, Juan Diaz-Cartelle, MD, expressed satisfaction with LIBERTY®'s performance throughout the study. CEO Harel Gadot described the trial's conclusion as a monumental moment for Microbot Medical.

Microbot Medical Inc. (Nasdaq: MBOT) has announced an acceleration in patient enrollment for its ACCESS-PVI human clinical trial of the LIBERTY® Endovascular Robotic Surgical System. With 80% of patients having completed the follow-up period, the company expects to finish the trial earlier than anticipated. Microbot remains on track to file its 510(k) submission with the FDA by the end of 2024.

The company has successfully completed all biocompatibility tests required by its Investigational Device Exemption (IDE) application and received full approval for the IDE study from the FDA. ACCESS-PVI is a prospective, multi-center, single-arm trial evaluating the performance and safety of LIBERTY® in peripheral vascular interventions. Microbot is also conducting additional bench testing, with results to be included in the 510(k) submission.

Microbot Medical Inc. (Nasdaq: MBOT) has reached a significant milestone in its pivotal human clinical trial for the LIBERTY® Endovascular Robotic Surgical System. The company has successfully enrolled and completed follow-up for 50% of the patients in the ACCESS-PVI trial, which aims to evaluate the system's performance and safety in peripheral vascular interventions. Microbot Medical expects to:

1. Complete enrollment and follow-up in Q4 2024
2. File a 510(k) submission with the FDA by the end of 2024
3. Proceed with commercialization upon FDA approval

Dr. Dmitry Rabkin from Brigham and Women's Hospital praised the system's ease of use and quick set-up, noting a short learning curve. The company's Chief Medical Officer, Dr. Juan Diaz-Cartelle, expressed excitement about the milestone and physician feedback, confirming they remain on track for trial completion and FDA submission.