Microbot Medical to Enhance Focus on its Core Business and Prioritize Preparations for Regulatory and First in Human Clinical Cases
18 Maio 2023 - 10:15AM
Microbot Medical Inc. (Nasdaq: MBOT), the developer of the LIBERTY®
Robotic Surgical System, the first single-use endovascular robotic
system, today announced its Core Business Focus Program and cost
restructuring plan to continue enhancing the focus on its core
technology while maximizing available resources to support it. This
includes the focus on completing the validation and verification
process and completing the planned first- in- human (FIH) clinical
cases with its LIBERTY Robotic Surgical System, both expected
during the second half of 2023.
As part of the Core Business Focus Program, and
to maximize available resources, the Company will eliminate
non-core technology expenses by terminating agreements relating to
the TipCat, ViRob and CardioSert technologies. In addition, it
executed several cost reduction initiatives to reduce expenses that
are not directly supporting the Company’s core technology,
including reduction in positions not directly supporting the core
LIBERTY technology and compensation reductions or restructurings
for its leadership team and certain advisors.
Further information about the Company’s Core
Business Focus Program and cost restructuring plan, as well as
other information about the Company’s results of operations and
financial condition, can be found in its Quarterly Report on Form
10-Q for the fiscal quarter ended March 31, 2023, filed with the
Securities and Exchange Commission on May 17, 2023.
About Microbot Medical
Microbot Medical Inc. (NASDAQ: MBOT) is a
pre-clinical medical device company that specializes in
transformational micro-robotic technologies, with the goals of
improving clinical outcomes for patients and increasing
accessibility through the natural and artificial lumens within the
human body.
The LIBERTY Robotic System aims to improve the
way surgical robotics are being used in endovascular procedures
today, by eliminating the need for large, cumbersome, and expensive
capital equipment, while reducing radiation exposure and physician
strain. The Company believes the LIBERTY Robotic System’s remote
operation has the potential to be the first system to democratize
endovascular interventional procedures.
Further information about Microbot Medical is
available at http://www.microbotmedical.com.
Safe Harbor
Statements to future financial and/or operating
results, future growth in research, technology, clinical
development, and potential opportunities for Microbot Medical Inc.
and its subsidiaries, along with other statements about the future
expectations, beliefs, goals, plans, or prospects expressed by
management, constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 and
the Federal securities laws. Any statements that are not historical
fact (including, but not limited to statements that contain words
such as “will,” “believes,” “plans,” “anticipates,” “expects” and
“estimates”) should also be considered to be forward-looking
statements. Forward-looking statements involve risks and
uncertainties, including, without limitation, market conditions,
risks inherent in the development and/or commercialization of
LIBERTY, the outcome of its studies to evaluate LIBERTY, whether
the Company’s core business focus program and cost reduction plan
are sufficient to enable the Company to continue to focus on its
LIBERTY technology while it seeks additional working capital, any
failure or inability to recruit physicians and clinicians to serve
as primary investigators to conduct regulatory studies which could
adversely affect or delay such studies, uncertainty in the results
of pre-clinical and clinical trials or regulatory pathways and
regulatory approvals, uncertainty resulting from the COVID-19
pandemic, need and ability to obtain future capital, and
maintenance of intellectual property rights. Additional information
on risks facing Microbot Medical can be found under the heading
“Risk Factors” in Microbot Medical’s periodic reports filed with
the Securities and Exchange Commission (SEC), which are available
on the SEC’s web site at www.sec.gov. Microbot Medical disclaims
any intent or obligation to update these forward-looking
statements, except as required by law.
Investor Contact:
Michal
Efraty+972-(0)52-3044404IR@microbotmedical.com
Microbot Medical (NASDAQ:MBOT)
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