Medigus Ltd. American Depositary Share Stock Price, News & Analysis

Medigus Ltd. (Nasdaq: MDGS) announced encouraging pre-clinical results from Polyrizon Ltd., in which it owns 33.24%. Polyrizon's innovative biological gel effectively reduced infection risks from human coronavirus 229E, showing high efficacy in preventing the virus from affecting epithelial cells. The study indicated a good safety profile and broad-spectrum activity against various viruses. Medigus plans to initiate clinical trials pending regulatory approvals, with first efficacy results expected within 12 months.

Medigus Ltd. announces a non-binding letter of intent to acquire a controlling interest in a B2B and B2C electronics distributor in Israel with revenues of $11.4 million in 2020. Medigus aims to buy 50.06% of the target company for approximately $3.3 million, leveraging its online presence and strategic synergies. The acquisition is expected to enhance Medigus' e-commerce capabilities and foster collaborations among its subsidiaries. The transaction is subject to future agreements and adjustments based on the target's 2021 performance.

Medigus Ltd. (Nasdaq: MDGS) announced it converted all rights to Linkury Ltd. shares for 3,954,980 additional ordinary shares of Gix Internet Ltd. (TASE: GIX), increasing its ownership to approximately 36.7%. Gix's board is exploring merger opportunities beyond online advertising, potentially taking Linkury public or distributing its shares to Gix shareholders. Gix's subsidiary, Linkury, is also set to acquire a company in online advertising, projected to generate revenues exceeding NIS 71 million in 2021.

Medigus Ltd. (MDGS) announced a significant milestone in its EV venture, Revoltz, with the completion of the Model One prototype for micromobility delivery. This three-wheeled vehicle is designed for efficient urban delivery, capable of carrying 2.5 times the load of a typical scooter. CEO Liron Carmel noted positive initial performance assessments and the readiness to manufacture more prototypes for testing. The venture focuses on addressing last-mile delivery challenges in e-commerce.

Medigus Ltd. (Nasdaq: MDGS) has entered a five-year exclusive distribution agreement with Automax Motors Ltd. for its wireless robotic charging pad in Israel and Greece. The agreement includes a one-time payment of $50,000 and grants Automax Motors the option to acquire up to 5% of Charging Robotics’ shares at a $30 million pre-money valuation. Charging Robotics is focused on developing an autonomous charging system for electric vehicles. This strategic partnership aims to enhance market reach and operational capabilities in the growing electric vehicle sector.

Medigus Ltd. (Nasdaq: MDGS) is refining its strategic focus on innovative technologies with an emphasis on faster market-entry opportunities. Post-review, the company will prioritize partnerships with shorter timelines and explore spin-offs for commercialization success. Key developments include ScoutCam’s establishment and a strong market position, a $3 million licensing agreement for the MUSE system, and advances in its medical and e-commerce sectors. Medigus holds significant stakes in various ventures, enhancing its growth potential, supported by $27 million cash on hand and no debt.

Medigus Ltd. (Nasdaq: MDGS) announced that its subsidiary, Eventer Technologies Ltd., has filed a public prospectus draft for an IPO on the Tel Aviv Stock Exchange. Eventer completed a $2.25 million pre-IPO funding round in April 2021, which included a $1.5 million investment from Keshet. Medigus invested a total of $1.05 million, reducing its ownership to 47.69%. The funding values Eventer at $6 million post-money, highlighting Medigus’ strategic financial positioning.

Medigus Ltd. (Nasdaq: MDGS) reported significant revenue growth for 2020, with product and service revenues reaching approximately $531,000, up 95% from 2019's $273,000. This growth was primarily driven by sales to A.M. Surgical, totaling $383,000. Despite this revenue increase, the company recorded a net loss of approximately $6.85 million, a 52% improvement from a $14.18 million loss in 2019. As of year-end 2020, cash and cash equivalents surged to $22.36 million, largely due to financing activities that generated $22.95 million. Medigus is focusing on various sectors, including electric vehicles and medical technology.

Medigus Ltd. (Nasdaq: MDGS) announced a significant breakthrough through its subsidiary, Charging Robotics Ltd., achieving a major proof of concept milestone for an autonomous robotic charging pad intended for wireless electric vehicle charging. The robot demonstrated its capability to locate and align optimally under vehicles for efficient charging. Future plans include integrating charging components onto the platform. This development aims to create an on-demand autonomous charging system that facilitates seamless charging anytime and anywhere.