Microbot Medical Inc. (NASDAQ: MBOT) inventory spiked greater than 150% on a large 194 million share quantity on a profitable pre-clinical animal research for its LIBERTY surgical robotic system. Shares hit a excessive of $4.37 intraday earlier than closing at $3.19 on Could 22, 2023. The corporate additionally introduced a $1.4 million direct providing at $2.20 per share. Microbot is a pre-clinical stage firm that develops robotic techniques to help medical practitioners with minimally invasive interventional procedures. The corporate isn’t one other Intuitive Surgical Inc. (NASDAQ: ISRG) because it has but to generate any revenues and nonetheless must do human trials and FDA approval. Their entrance runner is the LIBERTY surgical robotic system.
LIBERTY Surgical Robotic System
The LIBERTY system is designed to navigate guidewires and microcatheters via the vascular system, eliminating the heavy capex required for devoted staffed Cath-lab rooms. Cath-labs is brief for catheter laboratories, the place catheters are used for minimally invasive procedures and catheter-based procedures like angiograms, angioplasties, stenting and set up of defibrillators and pacemakers. Cath-labs are geared up with costly imaging tools, together with fluoroscopes.
LIBERTY Options
LIBERTY can streamline Cath-lab procedures mixed with its One and Achieved expertise or different guidewire applied sciences. LIBERTY supplies linear, rotational and tip management and goals to scale back publicity to ionizing radiation and the necessity for heavy lead vests. The corporate partnered strategically on Dec. 22, 2021, with medical expertise supplier Stryker Company (NYSE: SYK) to combine a few of Stryker’s devices with LIBERTY to handle neurovascular procedures.
Pre-Medical Animal Examine Success
On Could 22, 2023, Microbot introduced a 100% success charge for LIBERTY utilized in a European pre-clinical animal research. This information surged the quantity and value of Microbot shares. The research comprised six European interventional radiologists performing 48 catheterizations to pre-determined vascular targets with a 100% success charge of reaching the meant goal. Vascular targets included distal branches of gastric, hepatic, splenic, mesenteric, renal and hypogastric arteries. The radiologists discovered the LIBERTY system straightforward to arrange and management procedures remotely and intuitively utilizing the distant controller.
Microbot Medical CMO Feedback
Microbot Chief Medical Officer Dr. Eyal Morag commented, “The outcomes of the multi-day research proceed to validate LIBERTY and is additional proof that the continued changes we now have made will guarantee the protection and efficacy of the system as we plan to enter the human medical part through the second half of the 12 months.” He continued, “We consider this, together with different anticipated alternatives for peer-reviewed publications, will lay the muse of exhibiting the numerous advantages LIBERTY is anticipated to deliver when commercialized and serving to to speed up early adoption,”
Microbot Medical FOMO Dangers
Earlier than you soar in head first, it is prudent to pay attention to the dangers concerned. Do not let the worry of lacking out (FOMO) drive your hand in chasing shares. Microbot is a pre-clinical research developmental firm. They do not have a industrial product and nonetheless have to conduct human trials on its LIBERTY robotic system. The corporate has been elevating money ranges via secondary choices. They did a $5 million secondary on Oct. 21, 2022, and made a $1.4 million direct providing on 5/22/2023 for 655.6K shares at $2.20 per share. The corporate has NO REVENUES and 18 staff. Any funding in penny shares is pure hypothesis.
Microbot Medical Skimpy Financials
In accordance with its newest 10-Ok filed Could 17, 2023, the corporate had losses of ($2.85 million) in its Q1 2023 ending March 31, 2023. It had roughly $5.06 million in money on March 31, 2023. The corporate introduced a $1.4 million direct providing on Could 22, 2023. The corporate stated it is going to use proceeds for the continued growth, commercialization and regulatory actions for its LIBERTY Robotic System. The expertise seems compelling; the query is whether or not it may take LIBERTY to the industrial stage earlier than operating out of money. It should additionally attain U.S. Federal Drug Administration (FDA) approval.
Microbot Medical analyst rankings and value targets are at MarketBeat.
Weekly Inverted Cup and Potential Deal with
The weekly candlestick chart for MBOT reveals a big inverse cup with a rounding high making an attempt to kind a deal with. The inverted cup lip line fashioned on the weekly market construction low (MSL) set off at $1.40 in December 2018. Shares made two massive spikes to $19.40 in January 2019 and $20.15 in December 2019.
MBOT fashioned a rounding high a bounces rose to decrease highs whereas drops made decrease lows. The inverse cup lip line was retested when it broke in Could 2023. Shares slipped below the $1.40 lip line which additionally turned the market construction low (MSL) purchase set off.
MBOT exploded greater on Could 22, 2023, on the announcement of its European animal research success for LIBERTY sending shares to a excessive of $4.37 earlier than pulling again on information of the $1.4 million direct providing. The weekly stochastic continues to be attempting to bounce via the 20-band. Pullback assist ranges are at $2.12, $1.61, $1.40 weekly MSL set off and $1.05 swing low.