Microbot Medical bolsters leadership ahead of FDA decision

HINGHAM, Mass. - Microbot Medical Inc. (NASDAQ:MBOT), a developer of the LIBERTY Endovascular Robotic System and currently valued at $71.23 million, has announced the appointment of two new senior officers to complete its U.S. commercial leadership team. This strategic move comes as the company anticipates a decision from the U.S. Food and Drug Administration (FDA) regarding the system’s market clearance, expected in the second quarter of 2025. According to InvestingPro data, the company’s stock has shown remarkable momentum, gaining over 100% in the past six months, suggesting strong market confidence in its strategic direction.

Allison Rosefort has been appointed as Vice President of Marketing, bringing over 15 years of experience in MedTech and healthcare marketing. Her background includes roles at Topcon Healthcare, Integra LifeSciences, Byram Healthcare, and ConvaTec, a Bristol Myers Squibb company. Rosefort’s expertise in launching and managing product life cycles is expected to play a crucial role in the commercialization of LIBERTY.

In addition to Rosefort’s appointment, Lisa Dobbins joins the company as Director of Human Resources, reporting to Naama Moav, Vice President of Human Resources. Dobbins’ MedTech experience will be instrumental in expanding the company’s U.S. commercial team. Her previous position as HR Business Partner at Integra LifeSciences is indicative of her capability to build high-performing teams aligned with long-term growth objectives.

These appointments follow the recent hiring of Paul Mullen as Vice President of Sales, signaling Microbot Medical’s commitment to establishing a robust commercial infrastructure. Harel Gadot, CEO, President, and Chairman of Microbot Medical, expressed confidence in the newly assembled leadership team’s ability to effectively implement the company’s commercial strategies post-FDA clearance.

The LIBERTY Endovascular Robotic System is a single-use, fully disposable endovascular robotic system designed to redefine endovascular procedures. While the system is currently not available for sale in the U.S., pending FDA 510(k) clearance, positive data from a pivotal study suggests a favorable market reception upon approval. With the next earnings report scheduled for May 13, 2025, investors tracking this development can access comprehensive analysis and additional insights through InvestingPro, which offers exclusive financial health metrics and growth indicators.

Microbot Medical is a pre-commercial stage medical technology company focused on improving care quality for patients and providers globally through innovative endovascular robotics. While currently pre-revenue, the company maintains a healthy liquidity position with a current ratio of 2.37 and operates with minimal debt. The company’s forward-looking statements underscore its need for working capital to transition to a commercial focus and the uncertainties inherent in the development and commercialization of medical technologies.

This article is based on a press release statement from Microbot Medical Inc.

In other recent news, Microbot Medical has reported significant progress in its corporate and product development activities. The company announced the successful results of its ACCESS-PVI pivotal trial for the LIBERTY® Endovascular Robotic System, achieving a 100% success rate in robotic navigation with no adverse device events. This development was shared at the Society of Interventional Radiology’s annual meeting, highlighting a 92% reduction in radiation exposure for operators. In anticipation of U.S. commercialization, Microbot Medical submitted a 510(k) premarket notification to the FDA, with clearance expected in the second quarter of 2025.

The company has also raised approximately $20.6 million through various fundraising efforts, including direct offerings and an At-the-Market agreement with H.C. Wainwright & Co. Additionally, H.C. Wainwright analyst Raghuram Selvaraju maintained a Buy rating on the company’s stock, affirming a price target of $9.00 following the trial’s positive results. In terms of corporate governance, Microbot Medical has amended its by-laws to lower the quorum requirement for shareholder meetings to one-third of votes entitled to be cast. The company has scheduled its annual stockholders’ meeting for June 10, 2025, following the filing of a Preliminary Proxy Statement with the SEC.

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