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Microbot Medical Inc. (MBOT) Stock Plummeted in Premarket, Here’s What you Should Know

Microbot Medical Inc. (MBOT) is an innovative pre-clinical stage biopharmaceutical company. The company develops micro-robotic technologies used primarily in invasive surgeries. Some of the lead product candidates of the company include ViRob, TipCat, and Liberty. The disorders treated by this technology include endoluminal surgeries and hydrocephalus.

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The price of MBOT stock during the regular trading on December 27, 2021, with a tremendous leap of 65.13% was $8.95. At last check in the premarket on December 28, 2021, the stock was down by 10.06%.

MBOT: Events and Happenings

On December 27, 2021, MBOT reported about its entry into a strategic partnership with Stryker. MBOT collaborated with Stryker’s Neurovascular department to synchronize its neurovascular devices with MBOT’s LIBERTY System. The partnership will develop globally foremost robotic procedural kits. The kits will be used for certain neurovascular irregularities.

MBOT: CEO Comments

Harel Gadot, CEO of MBOT said that the company had previously ensured that LIBERTY System had a competitive edge over other products of similar origin. He further added that partnership with Stryker allowed the company to expand its vision in the neurovascular area.

On December 23, 2021, MBOT reported that the US Patent and Trademark Office had issued notification of Allowance for third patent application for the MBOT’s LIBERTY System. On December 22, 2021, MBOT reported that it had continued to execute important steps with regards to the commercialization of LIBERTY System. The company management is trying to launch a clinical setup for the inauguration of a human clinical trial in late 2022.

On December 15, 2021, MBOT reported about the achievement of design freeze objective for the LIBERTY System. The company reached this milestone within the already set timeframe. On November 19, 2021, MBOT reported that US Patent and Trade Office had issued a notification of allowance for its second patent application for MBOT’s LIBERTY System.

MBOT: Key Financials

On November 15, 2021, MBOT reported financial results for third quarter ended September 30, 2021. Some of the updates are as follows

Assets

Total current assets of the company for Q3 2021 were reported to be $18.7 million.

Net Loss per Share

Basic and diluted net loss per share for Q3 2021 was $2.5 million or $0.36 per share as compared to the same period of 2020 when it was $2.4 million or $0.35 per share.

On October 06, 2021, MBOT reported that US Patent and Trade Office had issued notification of allowance for MBOT’s LIBERTY System.

Conclusion

MBOT stock is 77% up as compared to the past week which is possibly the result of announcement of strategic partnership of the company with Stryker. But the recent steep drop in the premarket is due to uncertainty in the market. The analysts are expecting the stock of the company to skyrocket soon as an outcome of the pipeline collaborations.

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