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Microbot Medical Announces First Closing of Exercise of Outstanding Preferred Investment Options of Up to $92.2 Million in Gross Proceeds
Globenewswire· 2025-09-16 19:37
Core Viewpoint - Microbot Medical Inc. has successfully closed the first tranche of a preferred investment options offering, raising approximately $25.2 million, with a second tranche expected to yield an additional $4 million, and potential gross proceeds of up to $63 million from future exercises of short-term preferred investment options [1][4]. Group 1: Offering Details - The first closing involved the exercise of preferred investment options to purchase up to 12,064,627 shares of common stock at exercise prices ranging from $1.50 to $2.13 per share [2]. - The second closing is anticipated by October 15, 2025, and will involve the exercise of options for 1,924,488 shares at an exercise price of $2.10 per share, with new options issued at $4.50 per share [2][4]. - H.C. Wainwright & Co. served as the exclusive placement agent for this offering [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated towards the development, commercialization, and regulatory activities for the LIBERTY Robotic System, potential acquisitions, and general corporate purposes [4]. Group 3: Company Overview - Microbot Medical Inc. is focused on transforming endovascular procedures through advanced robotic technology, with its LIBERTY Endovascular Robotic System being the first single-use, remotely operated robotic solution designed for precision and efficiency [7].
Microbot Medical Announces Exercise of Outstanding Preferred Investment Options for Up to $92.2 Million in Gross Proceeds
Globenewswire· 2025-09-15 12:00
Core Viewpoint - Microbot Medical Inc. has entered into definitive agreements to exercise preferred investment options, allowing the purchase of up to 13,989,115 shares of common stock, with the offering expected to close in two tranches [1][2]. Group 1: Offering Details - The first closing of the offering is anticipated on or about September 16, 2025, involving the exercise of options for 12,064,627 shares at prices between $1.50 and $2.13 per share [2]. - The second closing is expected by October 15, 2025, for 1,924,488 shares at an exercise price of $2.10 per share [2]. - New unregistered short-term series J preferred investment options will be issued in connection with the cash exercise of these options, with an exercise price of $4.50 per share [2]. Group 2: Financial Proceeds - Gross proceeds from the first closing are projected to be approximately $25.2 million, while the second closing is expected to yield around $4 million [4]. - If fully exercised, the new short-term series J preferred investment options could generate additional gross proceeds of approximately $63 million [4]. Group 3: Use of Proceeds - The net proceeds from the offering will be utilized for the development, commercialization, and regulatory activities of the LIBERTY® Robotic System, potential acquisitions, and general corporate purposes [4]. Group 4: Company Overview - Microbot Medical Inc. is focused on transforming endovascular procedures through advanced robotic technology, with its LIBERTY® Endovascular Robotic System being a key product [8].
Microbot Shares Rise on FDA Clearance for LIBERTY Robotic System
ZACKS· 2025-09-09 18:26
Company Overview - Microbot Medical Inc. (MBOT) received FDA 510(k) clearance for its LIBERTY Endovascular Robotic System, marking a significant regulatory achievement for the company [1][4] - The LIBERTY system aims to enhance control and precision in endovascular procedures while minimizing radiation exposure and the use of contrast media [1][9] Market Position and Growth Potential - The FDA clearance positions Microbot for entry into the U.S. market, transforming years of research and development into a commercial opportunity [2][4] - The company is focusing on expanding its presence in the robotic surgery market, leveraging the LIBERTY system's compact and disposable design to differentiate from existing platforms [2][10] Stock Performance - Following the FDA announcement, MBOT shares increased by 22.9% at market close, with a year-to-date surge of 301.8%, contrasting with an 8.1% decline in the industry [3][8] - The current market capitalization of MBOT is $166.7 million, with projected earnings growth of 53.4% for the current year [5] Product Features and Clinical Data - The LIBERTY system is a fully disposable, remotely operated device that demonstrated 100% navigation success in trials, with a 92% relative reduction in radiation exposure for physicians [8][11] - The system's design aims to improve ergonomics, reduce physical strain on healthcare providers, and enhance procedural efficiency while lowering costs [11] Industry Outlook - The global surgical robot systems market is projected to grow from $11.48 billion in 2024 to $23.13 billion by 2030, with a CAGR of 12.4% from 2025 to 2030, driven by technological advancements and a preference for minimally invasive procedures [12]
REMINDER: Microbot Medical to Highlight FDA 510(k) Clearance of the LIBERTY Endovascular Robotic System at the H.C. Wainwright Annual Investor Conference
Globenewswire· 2025-09-09 12:28
Core Insights - Microbot Medical Inc. has received FDA clearance for its LIBERTY Endovascular Robotic System, marking it as the first single-use, remotely operated robotic system for peripheral endovascular procedures [1][2]. Company Overview - Microbot Medical Inc. is a medical device company focused on transforming endovascular procedures through advanced robotic technology [2]. - The LIBERTY Endovascular Robotic System is designed for precision, efficiency, and provider safety, supported by a strong intellectual property portfolio [2]. Event Announcement - Harel Gadot, CEO, President & Chairman of Microbot Medical, will present at the H.C. Wainwright Annual Investor Conference, highlighting the recent FDA clearance of the LIBERTY System [1]. - The presentation is scheduled for September 9 at 9:00am ET and will be available via a live webcast on the company's website [1].
Microbot Medical® Receives FDA 510(k) Clearance for Its LIBERTY® Endovascular Robotic System
Globenewswire· 2025-09-08 12:28
Core Insights - Microbot Medical Inc. has received FDA 510(k) clearance for its LIBERTY Endovascular Robotic System, marking a significant milestone for the company and the endovascular robotics field [3][4] - The company aims to commercialize the LIBERTY System in the U.S. by Q4 2025, targeting an addressable market of approximately 2.5 million peripheral endovascular procedures annually [2][4] - The LIBERTY System demonstrated a 100% success rate in robotic navigation to target and a 92% relative reduction in radiation exposure for physicians during its pivotal study [4] Company Developments - The CEO, Harel Gadot, emphasized that the FDA clearance validates the company's mission to enhance access to advanced robotic technologies and supports cost-effective healthcare [4] - The company has been developing its commercial readiness strategy since Q2 2025, positioning itself to accelerate market entry following FDA clearance [4] - Microbot Medical plans to continue collecting clinical data for the LIBERTY System during its commercial launch [4] Market Positioning - The LIBERTY System is the first FDA-cleared single-use, remotely operated robotic system for peripheral endovascular procedures, aiming to transform the field by reducing the need for traditional capital equipment and dedicated infrastructure [3][4] - The remote design of the LIBERTY System is expected to improve ergonomics and reduce physical strain on healthcare providers, potentially enhancing procedure efficiency and lowering costs [4][6] - The company will present its developments at the H.C. Wainwright Annual Investor Conference on September 9, 2025, to engage with investors and stakeholders [5]
Microbot Shares Rise as New U.S. Patent Expands LIBERTY System Market
ZACKS· 2025-08-21 18:36
Core Insights - Microbot Medical Inc. (MBOT) has received a new U.S. patent that enhances the LIBERTY Endovascular Robotic System's applications, allowing for interchangeable tool-receiver units, thus broadening its use in endovascular procedures [1][8] - The new intellectual property (IP) is expected to increase the addressable market for the company from approximately 2.5 million to over six million annual endovascular procedures in the U.S., significantly expanding its market potential [2][8] - Following the patent announcement, MBOT's shares rose by 7.1%, with a year-to-date increase of 195.5%, contrasting with a 7% decline in the industry [3][7] Company Developments - The newly granted patent strengthens Microbot's long-term growth prospects by broadening the LIBERTY system's potential applications, enhancing its competitive differentiation and positioning for future partnerships and revenue opportunities once FDA clearance is obtained [4][8] - MBOT currently has a market capitalization of $140.7 million and projects an earnings growth of 56.2% for the current year [5] Product Overview - The LIBERTY system is designed as a single-use, fully disposable robotic platform for endovascular procedures, aimed at simplifying workflow and reducing risks associated with reprocessing [9][10] - Its modular architecture allows for configuration across various clinical applications, potentially increasing its relevance in a wider range of procedures than initially targeted [9][10]
Microbot Medical® Granted U.S. Patent that Significantly Expands Potential Market Applications
Globenewswire· 2025-08-20 12:30
Core Insights - The company has received a new patent for its LIBERTY Endovascular Robotic System, bringing its total to 12 granted patents globally and 57 pending applications, which enhances its intellectual property portfolio [1][2] - The new patent allows for modular capabilities in the robotic system, potentially expanding its application to a wider range of endovascular procedures, thereby increasing the Total Addressable Market (TAM) [1][2] - The company aims to address over 6 million annual endovascular procedures in the U.S., significantly higher than the current estimate of 2.5 million procedures [2][3] Company Overview - Microbot Medical Inc. is a pre-commercial stage medical technology company focused on redefining endovascular robotics and improving patient care globally [4] - The company has developed the first single-use, fully disposable endovascular robotic system, which aims to remove traditional barriers to accessing advanced robotic systems [4]
Microbot Medical(MBOT) - 2025 Q2 - Quarterly Report
2025-08-12 20:30
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended June 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from ____ to _____ Commission file number: 000-19871 175 Derby St., Bld. 27 Hingham, MA 02043 (Address of principal executive of ices) (781) 875-3605 (Registrant's T ...
Microbot Medical® Receives Non-Dilutive Grant to Enhance Operational Capabilities
GlobeNewswire News Room· 2025-08-05 12:30
Core Insights - Microbot Medical Inc. has received a non-dilutive grant of NIS 2.15 Million (approximately $630,000) from the Israel Innovation Authority to enhance its manufacturing capabilities for the LIBERTY® Endovascular Robotic System, pending FDA marketing clearance [1][2][3] Group 1: Company Developments - The grant is expected to strengthen the company's balance sheet and operational readiness as it awaits FDA's decision on marketing clearance [3] - The Israel Innovation Authority recognized the company's recent achievements, the target market's size, the competitive advantages of a single-use robot, and the expected benefits to healthcare systems [2] - The LIBERTY® System is an investigational device currently pending FDA 510(k) clearance and is not available for sale in the U.S. [3][4] Group 2: Market Positioning - Microbot Medical aims to redefine endovascular robotics and improve care quality for patients globally with its single-use, fully disposable robotic system [4] - The company believes the grant validates its technology and reflects the IIA's confidence in its ability to scale manufacturing and meet business objectives [2][3]
Microbot Medical® Expands Commercial Leadership with Appointment of Christina Bailey as VP of Sales
GlobeNewswire· 2025-07-22 12:30
Core Insights - Microbot Medical Inc. has appointed Christina Bailey as the new Vice President of Sales, bringing 20 years of medical device sales experience and a successful track record in leading commercial teams [1][2][3] - The company is preparing for the anticipated launch of its LIBERTY Endovascular Robotic System, which is currently pending FDA 510(k) clearance and not available for sale in the U.S. [3][4] Company Overview - Microbot Medical Inc. is a pre-commercial stage medical technology company focused on redefining endovascular robotics to enhance patient care globally [4] - The company has developed the world's first single-use, fully disposable endovascular robotic system aimed at overcoming traditional barriers to advanced robotic systems [4] Leadership and Experience - Christina Bailey has held various sales leadership roles at notable companies such as Boston Scientific, Abbott, Stryker, and Intuitive Surgical, equipping her with insights to drive growth and innovation [2] - Her previous role as Vice President of US Sales at Endologix involved building and scaling sales teams and achieving significant sales milestones [2]