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Investing.com - Microbot Medical (NASDAQ:MBOT) maintained its Buy rating and $9.00 price target at H.C. Wainwright following a new patent grant for its LIBERTY endovascular robotic system. The stock has shown remarkable momentum, surging over 195% year-to-date and currently trading near its 52-week high of $3.38.
The United States Patent and Trademark Office (USPTO) granted the patent on August 20, covering a modular robotic surgical system with a base and multiple tool-receiver units that can be independently and interchangeably attached.
This patent expands Microbot’s intellectual property portfolio for LIBERTY to 12 granted patents globally, with 57 patent applications still pending worldwide.
The new patent enables LIBERTY to be adapted for a wider range of endovascular procedures, potentially increasing its total addressable market from 2.5 million annual peripheral endovascular procedures in the U.S. to over 6 million annual endovascular procedures in the U.S. alone.
Microbot’s 510(k) premarket notification for LIBERTY is currently under FDA review, with a decision expected in the third quarter of 2025, while the company continues expanding its commercial infrastructure in preparation for a potential U.S. launch.
In other recent news, Microbot Medical has reported several significant developments. The company raised $3 million through the exercise of Series F and Series G preferred investment options, as detailed in a recent SEC filing. This move involved issuing over 1.8 million shares, contributing to the company’s financial resources. Additionally, Microbot Medical has been granted a patent in China for the robotic manipulation of surgical tool handles, enhancing its intellectual property portfolio.
The company also announced an increase in its authorized shares, following a stockholder vote. The authorized common stock has been doubled from 60 million to 120 million shares. In another strategic move, Microbot Medical appointed Christina Bailey, a former Olympian with extensive sales experience, as the new Vice President of Sales. Furthermore, H.C. Wainwright reiterated a Buy rating on Microbot Medical, citing a positive outlook ahead of the potential U.S. launch of its LIBERTY endovascular robotic system. The company is currently awaiting FDA approval for this system, expected in the third quarter of 2025.
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