Vicarious Surgical (RBOT)2025-03-18 02:07Financial Data and Key Metrics Changes - Total operating expenses for full year 2024 were 40.2 million, down from 63.2 million, equating to a net loss of 71.1 million or 21.9 million in the full year 2024, down from 4.5 million compared to $6.2 million in the prior year [24] Market Data and Key Metrics Changes - The company has expanded its partnerships with leading U.S. hospital systems, including LSU Health New Orleans, Temple Health, and University of Illinois Health [13][15] - The company is preparing for its first clinical use of the Version 1.0% system, which is expected to treat patients later in the year [21] Company Strategy and Development Direction - The company aims to transition into a clinical stage company in 2025, with a focus on robotic surgery innovations [8] - The Version 1.0% system is designed to deliver differentiated value to patients, surgeons, and hospitals, with a focus on minimally invasive outcomes [10][12] - The company is building a robust supply chain and manufacturing foundation to support its clinical trials and future growth [18][19] Management's Comments on Operating Environment and Future Outlook - Management expressed excitement about the successful completion of the Version 1.0% system integration and the potential impact on surgical procedures [9][28] - The company anticipates treating its first clinical patients by year-end 2025, with a de novo submission expected to be late in 2026 [21][26] Other Important Information - The company has faced some procurement challenges with key suppliers, but has managed to mitigate the impact on its timelines [20][36] - A new CFO, Sarah Romano, will join the company on April 1, bringing extensive financial leadership experience [22][23] Q&A Session Summary Question: Can you provide details on the supplier dynamic and its impact on clinical trial manufacturing? - Management acknowledged material procurement challenges with key suppliers that led to delays in component deliverables, but noted that they have resumed production [35][37] Question: When do you anticipate the clinical trial beginning? - Management indicated that the first patients will be treated later in the year, with plans to kick off pivotal trials shortly after [41][42] Question: Can you provide timing around the dossier submission? - The dossier submission is expected around the middle of the year, with the first patient timing dependent on approval [51] Question: What were the results of the cadaver lab tests? - The cadaver labs successfully performed ventral hernia repairs, and management expressed confidence in the system's performance [61] Question: Any updates on clinical trial design and patient expectations? - Management confirmed that trial design will be finalized after the first patients, allowing for flexibility in protocol adjustments [64]