These are top 10 stocks traded on the Robinhood UK platform in July
HINGHAM, Mass. - Microbot Medical Inc. (NASDAQ:MBOT), a pre-commercial stage medical technology company with a market capitalization of $48 million, announced the results of its ACCESS-PVI pivotal trial at the Society of Interventional Radiology's annual meeting. According to InvestingPro data, the company's stock has seen a significant 38% gain over the past six months, despite recent volatility. The trial, conducted at three U.S. medical centers, demonstrated that the LIBERTY® Endovascular Robotic System achieved successful navigation in all cases and significantly reduced radiation exposure.
The study, which included 20 cases, met its primary endpoint with a 100% success rate in robotic navigation and reported no adverse device events. A notable finding from the trial was a 92% relative reduction in radiation exposure for operators, with a median navigation time to target of just 3 minutes. The participating physicians expressed a 100% satisfaction rate with the performance of the LIBERTY® system. While the clinical results are promising, InvestingPro analysis indicates the company maintains a healthy balance sheet with more cash than debt, though it is currently experiencing rapid cash burn as it approaches commercialization.
Harel Gadot, the Chairman, CEO, and President of Microbot Medical, commented on the trial's outcome, stating confidence in the system's market reception as the company prepares for commercial launch. Dr. Juan Diaz-Cartelle, the Chief Medical Officer, highlighted the short learning curve and intuitive operation of the device, expressing eagerness to collaborate with interventional physicians upon FDA clearance.
LIBERTY® is a single-use, fully disposable endovascular robotic system designed to overcome the limitations of existing robotic technologies in the field. It is currently pending FDA 510(k) clearance and is not yet available for sale in the U.S. For investors tracking this development, InvestingPro offers 8 additional key insights about Microbot Medical's financial health and market position, including detailed profitability metrics and growth forecasts.
Microbot Medical's announcement is based on a press release statement and reflects the company's efforts to innovate endovascular procedures. The data presented may pave the way for advancements in medical robotics, subject to regulatory approval and market adoption.
In other recent news, Microbot Medical Inc. has announced several significant developments, starting with its financial activities. The company successfully raised approximately $20.6 million through various fundraising efforts, including direct offerings and an At-the-Market agreement. Additionally, Microbot Medical submitted a 510(k) premarket notification to the FDA for its LIBERTY® Endovascular Robotic System, with anticipated clearance in the second quarter of 2025. This follows a successful clinical trial, and the company plans to begin U.S. commercialization after receiving FDA approval.
In analyst updates, H.C. Wainwright raised its price target for Microbot Medical to $9.00 from $7.00, maintaining a Buy rating on the company's shares. This upgrade is attributed to the LIBERTY system's potential impact in the medical field. Furthermore, Microbot Medical regained compliance with Nasdaq's minimum bid price requirement, a crucial step for maintaining its listing. The company also disclosed executive compensation changes, including salary increases for key executives and a special bonus for CEO Harel Gadot.
Despite the ongoing Israel-Hamas conflict, Microbot Medical reported no material adverse effects on its operations. The company remains focused on its strategic goals, including securing additional capital and enhancing its product offerings in the competitive medical device market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.