The following is a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech stocks that hit 52-week highs Dec. 24.) Aimmune Therapeutics Inc (NASDAQ: AIMT ) Applied ...
Microbot Medical Inc. (MBOT), a medical device company specializing in the design and development of transformational micro-robotic medical technologies, today announced that it has entered into definitive agreements with certain institutional investors for the purchase in a registered direct offering of 912,858 shares of its common stock, at a purchase price per share of $10.50, priced at-the-market under Nasdaq rules. The gross proceeds to Microbot, before deducting placement agent fees and other offering expenses, are expected to be approximately $9.59 million. Microbot currently intends to use the net proceeds from this offering for the continuous development and regulatory activities for its SCS device for the treatment of hydrocephalus and NPH; continue the development of the Company’s LIBERTY robotic system, including its expansion through addition of complementary assets to it either through internal development, in-license or acquisitions; expand and develop additional applications deriving from its existing IP portfolio, either through internal development, in-license or acquisition; and for working capital and other general corporate purposes.
Microbot Medical Inc. (Nasdaq:MBOT) closed its previously announced registered direct offering of 900,901 shares of its common stock at a purchase price of $11.10 per share for total gross proceeds of approximately $10.0 million, before deducting placement agent fees and offering expenses. Microbot currently intends to use the net proceeds from this offering for the continuous development and regulatory activities for its SCS device for the treatment of hydrocephalus and NPH; continue the development of the Company’s LIBERTY robotic system, including its expansion through addition of complementary assets to it either through internal development, in-license or acquisitions; expand and develop additional applications deriving from its existing IP portfolio, either through internal development, in-license or acquisition; and for working capital and other general corporate purposes.
Further demonstrating its commitment to expand and protect its Intellectual Property (IP) portfolio, Microbot Medical Inc. (MBOT) was issued a Notice of Allowance for patent application No. 15/936,878 by the U.S. Patent and Trademark Office (USPTO). The allowed patent application covers the Company’s TipCATTM technology platform. “As we near the expected FDA pre-submission for our first product, the Self Cleaning Shunt (SCSTM), we have also experienced an acceleration in the expansion of our patent estate – with this latest allowance being the 5th to date in 2019 and across several global jurisdictions, including North America and Europe,” said Harel Gadot, Chief Executive Officer, President, and Chairman.
Having successfully concluded an independent in-vitro laboratory study and published the positive results earlier this year, the operational effectiveness of Microbot Medical Inc.’s (MBOT) Self-Cleaning Shunt (SCS™) was validated in a broader follow-up in-vitro lab study and clearly demonstrated the device’s capability to prevent shunt occlusion under the parameters of that study. As a reminder, Mr. Gadot is presenting at the Rodman & Renshaw Global Investment Conference today at 12:05 pm (ET), at the Lotte New York Palace in New York City, where he will share the summary results of the follow-up in-vitro laboratory study as well demonstrating a working headset prototype of the SCS™ device.
HINGHAM, Mass., Sept. 13, 2019 (GLOBE NEWSWIRE) -- Having successfully executed a number of significant milestones over the past twelve months, Microbot Medical Inc. (MBOT) held its 2019 annual shareholders' meeting on September 10, 2019, during which the shareholders re-elected three directors and approved all of the proposals. “We have executed many objectives over the past year and at this time our goal remains to achieve our other targeted milestones, including the FDA pre-submission for our Self-Cleaning Shunt (SCSTM) by the end of this year,” commented Harel Gadot, President, CEO and Chairman. At the annual meeting, shareholders approved the reduction of outstanding shares from 221,000,000 to 61,000,000, including a reduction in the number of authorized shares of common stock from 220,000,000 to 60,000,000.
Over the last month the Microbot Medical Inc. (NASDAQ:MBOT) has been much stronger than before, rebounding by 38%. But...
Just because a business does not make any money, does not mean that the stock will go down. For example, although...
As of late, it has definitely been a great time to be an investor Microbot Medical.
HINGHAM, Mass., Dec. 23, 2019 (GLOBE NEWSWIRE) -- Microbot Medical Inc. (MBOT) today announced the revealing of LIBERTYTM, the world’s first fully disposable robotic system for use in neurovascular, cardiovascular and peripheral vascular procedures. The LIBERTY robotic system features a unique compact design with the capability to be operated remotely, reduce radiation exposure and physical strain to the physician, as well as the potential to eliminate the use of multiple consumables through its “One & Done” capabilities.
At the upcoming Rodman & Renshaw Global Investment Conference, Harel Gadot, CEO, President and Chairman of Microbot Medical Inc. (MBOT), will demonstrate a working prototype of the Company’s Self-Cleaning Shunt (SCS™). Mr. Gadot is scheduled to present on Tuesday, September 10, 2019, at 12:05 pm (ET), at the Lotte New York Palace in New York City. A live webcast and subsequent archived replay of the Company’s presentation may be accessed via the ‘Investors’ section, under ‘Presentation + Resources’ of the Company’s website at www.microbotmedical.com.
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Microbot Medical Inc. (MBOT), a medical device company specializing in the design and development of transformational micro-robotic medical technologies, today announced that it has entered into definitive agreements with certain institutional investors for the purchase in a registered direct offering of 952,383 shares of its common stock, at a purchase price per share of $10.50, priced at-the-market under Nasdaq rules. The gross proceeds to Microbot, before deducting placement agent fees and other offering expenses, are expected to be approximately $10 million. Microbot currently intends to use the net proceeds from this offering for the continuous development and regulatory activities for its SCS device for the treatment of hydrocephalus and NPH; continue the development of the Company’s LIBERTY robotic system, including its expansion through addition of complementary assets to it either through internal development, in-license or acquisitions; expand and develop additional applications deriving from its existing IP portfolio, either through internal development, in-license or acquisition; and for working capital and other general corporate purposes.
Microbot Medical Inc. (Nasdaq:MBOT) closed its previously announced registered direct offering of 912,858 shares of its common stock at a purchase price of $10.50 per share for total gross proceeds of approximately $9.59 million, before deducting placement agent fees and offering expenses. Microbot currently intends to use the net proceeds from this offering for the continuous development and regulatory activities for its SCS device for the treatment of hydrocephalus and NPH; continue the development of the Company’s LIBERTY robotic system, including its expansion through addition of complementary assets to it either through internal development, in-license or acquisitions; expand and develop additional applications deriving from its existing IP portfolio, either through internal development, in-license or acquisition; and for working capital and other general corporate purposes.
Microbot Medical Inc. (MBOT) announced the appointment of Aileen Stockburger to the Company's Board of Directors, effective April 1, 2020. Ms. Stockburger is an experienced executive and consultant with extensive expertise in strategizing, managing and closing sizable, complex worldwide mergers and acquisitions, licensing agreements and divestitures, as well as expertise in business development, strategic planning and finance. “We are excited to have Aileen join us and strengthen our leadership team’s core capabilities, as her strategic track record and vast industry network will add tremendous value to the organization”, commented Harel Gadot, CEO, President and Chairman.
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Microbot Medical Inc. (MBOT) has received an official communication from the European Patent Office (EPO) regarding its intention to grant European Patent Application No. 11795301, covering the Company’s Self-Cleaning Shunt (SCS™). “We have always maintained that a strong and growing intellectual property portfolio is one of our strongest assets and will enable us to maintain a sustainable competitive advantage while establishing barriers of entry to future competitors” said Harel Gadot, Chief Executive Officer, President, and Chairman.
Microbot Medical Inc. (MBOT), announced the appointment of Eyal Morag, M.D., a leading radiologist, to Chief Medical Officer, effective immediately. In his new role, Dr. Morag will lead the development and execution of the clinical strategy of the Company’s technology platforms, including its current development of the Self-Cleaning Shunt (SCS) and LIBERTY products as well as its future pipeline. Dr. Morag has been a member of the Company’s Scientific Advisory Board since November 2017 and will report directly to Harel Gadot, Chief Executive Officer, President, and Chairman.
In an expansion of its significant global patent estate, Microbot Medical Inc. (MBOT) announced that the U.S. Patent and Trademark Office (USPTO) has issued a Notice of Allowance for patent application No. 15/218,025, covering the Company’s TipCATTM technology platform. The allowed patent application is a Continuation of Patent No. 9,427,143, issued on August 30, 2016. “This Notice of Allowance represents a further execution of our overall strategy to create value by protecting our assets and expanding our global IP portfolio to differentiate our unique products and create barriers to entry,” said Harel Gadot, Chief Executive Officer, President, and Chairman.
Microbot Medical Inc. (MBOT), a medical device company specializing in the design and development of transformational micro-robotic medical technologies, today announced that it has entered into definitive agreements with certain institutional investors for the purchase in a registered direct offering of 900,901 shares of its common stock, at a purchase price per share of $11.10, priced at-the-market under Nasdaq rules. The gross proceeds to Microbot, before deducting placement agent fees and other offering expenses, are expected to be approximately $10.0 million. Microbot currently intends to use the net proceeds from this offering for the continuous development and regulatory activities for its SCS device for the treatment of hydrocephalus and NPH; continue the development of the Company’s LIBERTY robotic system, including its expansion through addition of complementary assets to it either through internal development, in-license or acquisitions; expand and develop additional applications deriving from its existing IP portfolio, either through internal development, in-license or acquisition; and for working capital and other general corporate purposes.