Microbot Medical maintains progress amid Israel tensions

BRAINTREE, Mass. - Microbot Medical Inc. (NASDAQ:MBOT), a developer of robotic surgical systems, announced today that its operations remain on track despite the recent escalation of conflict in Israel. The company, which is working on the LIBERTY Endovascular Robotic Surgical System, has maintained its timeline for regulatory and commercial milestones, even as the situation in Israel has intensified since October 7th, 2023.

The company's recent IDE submission to the U.S. Food and Drug Administration (FDA) is moving forward as planned, with expectations to commence its pivotal human study. In Europe, Microbot Medical has completed an internal audit, a step toward ISO 13485 certification and CE approval, with audits anticipated later this year.

Operationally, the company has secured sufficient inventory of the LIBERTY system to support its upcoming study and other initiatives. Microbot Medical is also expanding its partnerships, engaging in advanced discussions with clinical partners to enhance the system's capabilities, including remote operations and artificial intelligence integration.

Pre-commercially, the company is in talks with potential strategic partners across the USA and globally, preparing for efficient commercialization channels upon approval of the LIBERTY system.

Harel Gadot, CEO, President, and Chairman of Microbot Medical, expressed confidence in the company's ability to continue meeting its regulatory objectives and to position the LIBERTY system for market entry in the USA and Europe as planned.

Microbot Medical, which has navigated challenges from the COVID-19 pandemic and the ongoing conflict in Israel, aims to democratize endovascular procedures with its LIBERTY system by offering a more accessible and less cumbersome alternative to traditional surgical robotics.

The company's progress and plans are based on a press release statement and are subject to the typical risks and uncertainties associated with medical device development and commercialization. These include regulatory approvals, market conditions, and the ability to secure necessary capital.

As Microbot Medical Inc. (NASDAQ:MBOT) continues to advance its LIBERTY Endovascular Robotic Surgical System, investors may be interested in the company's financial health and market performance. According to InvestingPro, Microbot Medical holds more cash than debt on its balance sheet, indicating a level of financial stability that could support its ongoing projects and commercialization efforts. Additionally, the company's liquid assets exceed its short-term obligations, providing it with a cushion to manage operations in the near term.

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However, it's important to note that Microbot Medical is quickly burning through cash and suffers from weak gross profit margins. Analysts do not anticipate the company will be profitable this year, which is a critical factor for investors to consider. The stock price movements of MBOT have been quite volatile, and the company is currently trading near its 52-week low.

From a market perspective, Microbot Medical's market cap stands at approximately 14.54 million USD, and the stock's price to book ratio for the last twelve months as of Q4 2023 is 3.74. These metrics provide insights into the company's valuation and how the market is currently perceiving its assets relative to its share price.

For those looking for more in-depth analysis, InvestingPro offers additional tips on Microbot Medical. There are 9 more InvestingPro Tips available, which could be especially valuable for investors considering the company's prospects. To explore these tips and gain a more comprehensive understanding of MBOT's financials and market performance, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

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