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HINGHAM, MA - Microbot Medical (TASE:BLWV) Inc. (NASDAQ:MBOT), a medical device company with a market capitalization of $89 million, has filed a Preliminary Proxy Statement with the Securities and Exchange Commission (SEC) in preparation for its annual stockholders’ meeting scheduled for June 10, 2025. This announcement comes after the company was unable to achieve a quorum for a previously planned special meeting on April 11, 2025.
The inability to secure a quorum for the April 11 meeting resulted in the cancellation of the event rather than an adjournment. Consequently, the two proposals initially set for the special meeting will now be presented to stockholders at the forthcoming annual meeting. According to InvestingPro data, the company maintains a healthy liquidity position with a current ratio of 2.37, indicating strong ability to meet its short-term obligations.
The company’s decision not to hold the special meeting and to carry the proposals over to the annual meeting is detailed in the Preliminary Proxy Statement filed today. The nature of the proposals has not been disclosed in the provided context.
Microbot Medical, headquartered in Hingham, Massachusetts, operates within the medical devices sector, specializing in surgical and medical instruments and apparatus. The company, formerly known as StemCells Inc and CytoTherapeutics Inc/DE, has a history of name changes with the most recent occurring in 2000. The stock has shown remarkable momentum, delivering a 177% return over the past year. InvestingPro analysis identifies 12 additional key investment factors for MBOT, available to subscribers.
The company’s stock is traded on the NASDAQ Capital Market under the ticker symbol MBOT. As per the SEC filing, the company is incorporated in Delaware and has its fiscal year end on December 31.
This news is based on a press release statement and serves to inform investors and other interested parties about the company’s upcoming corporate governance activities. The details provided are in compliance with SEC regulations and aim to maintain transparency in the company’s operations and shareholder relations. Investors should note that analysts expect the company’s next earnings report on May 13, 2025, which could provide important updates on its financial trajectory.
In other recent news, Microbot Medical has announced the successful completion of its ACCESS-PVI pivotal trial for the LIBERTY Endovascular Robotic System, showcasing a 100% success rate in robotic navigation across 20 cases without any adverse device events. The trial also demonstrated a significant 92% reduction in radiation exposure for operators, with physicians expressing full satisfaction with the system’s performance. Following these results, H.C. Wainwright has maintained a Buy rating on Microbot Medical, with a price target of $9, and increased the estimated probability of FDA clearance to 80%. The company has also been active in fundraising, securing approximately $20.6 million through various offerings, including a registered direct offering and an At-the-Market offering agreement. Microbot Medical has filed a 510(k) premarket notification with the FDA for the LIBERTY system, anticipating clearance in the second quarter of 2025. In corporate governance updates, Microbot Medical has amended its by-laws to lower the quorum requirement for shareholder meetings to one-third of the votes entitled to be cast. Additionally, the company has increased compensation for key executives, including salary raises and enhanced bonus structures. Despite the ongoing Israel-Hamas conflict, Microbot Medical reports no material adverse effects on its operations.
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