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Vicarious Surgical receives NYSE delisting notice
Yahoo Finance· 2026-03-04 15:24
Group 1 - Vicarious Surgical went public in 2021 through a merger with a SPAC, raising $220 million, and avoided potential delisting from the NYSE in 2023 [3] - The company is focused on reducing cash burn and has extended development timelines for its single-port robotic system for abdominal procedures [4] - In January, Vicarious announced progress towards a system design freeze by the end of the year, completing elements of a ventral hernia repair in its first animal lab in several years [5] Group 2 - Under new CEO Stephen From, Vicarious partnered with an engineering and software development firm to improve execution and lower operating costs while keeping key design elements in-house [6] - In December, the company lowered its full-year 2025 cash burn forecast to approximately $45 million, a reduction of $5 million, and projected a 2026 cash burn of about $35 million [7] Group 3 - Vicarious received notice from the NYSE regarding the delisting process for its Class A common stock due to falling below the required average global market capitalization of $15 million over 30 consecutive trading days [9] - Trading in Vicarious shares was suspended, but the company can appeal the delisting determination and has received approval to have its stock quoted on the OTCID market under the "RBOT" trading symbol [9]