H.C. Wainwright's valuation of Microbot Medical (NASDAQ:MBOT) stands at an estimated market value of $255 million, or $9 per share, which underpins the revised price target. The current market capitalization of $32.34 million suggests significant growth potential if the company achieves its milestones. The analyst's statement concluded with a reiteration of the Buy rating and the updated 12-month price target, reflecting the potential market impact and advantages of the LIBERTY system. The firm's analyst highlighted the recent submission of a 510(k) premarket notification to the U.S. Food and Drug Administration (FDA) for LIBERTY, which is touted as the world's first single-use, fully-disposable robotic system designed for endovascular procedures.
The submission, made in December 2024, is based on the successful results from a multi-center, single-arm trial that assessed LIBERTY's performance and safety in human subjects undergoing peripheral vascular interventions. Microbot Medical's management anticipates FDA marketing clearance for LIBERTY in the second quarter of 2025. With a strong current ratio of 3.64 and more cash than debt on its balance sheet, the company appears well-positioned to support its regulatory initiatives. InvestingPro subscribers can access 10+ additional insights about MBOT's financial health and market position.
LIBERTY is positioned to serve the more than two million peripheral vascular procedures conducted annually in the United States. The system's unique selling points include its portability and disposability, which could provide it with a competitive edge over larger, more costly capital equipment. Additionally, LIBERTY is expected to reduce radiation exposure and physical strain for healthcare professionals.
H.C. Wainwright's valuation of Microbot Medical stands at an estimated market value of $255 million, or $9 per share, which underpins the revised price target. The current market capitalization of $32.34 million suggests significant growth potential if the company achieves its milestones. The analyst's statement concluded with a reiteration of the Buy rating and the updated 12-month price target, reflecting the potential market impact and advantages of the LIBERTY system.
In other recent news, Microbot Medical has been active on multiple fronts. The medical device company concluded its at-the-market equity offering program, selling a total of 4,276,486 shares and raising gross proceeds of approximately $4.82 million. The offering was managed by H.C. Wainwright & Co. LLC, who received a 3.0% placement fee on the gross sales price of the shares sold.
Microbot Medical also made significant progress in its ACCESS-PVI clinical trial for the LIBERTY® Endovascular Robotic Surgical System, nearing completion. Moreover, the company announced the appointment of David J. Wilson as a Class III director, filling a vacancy left by Yoseph Bornstein.
In addition, the company secured approximately $2.35 million from a stock sale and investment options, with H.C. Wainwright & Co. serving as the exclusive placement agent. Notably, H.C. Wainwright maintained a Buy rating but reduced the price target for Microbot Medical to $7.00.
Lastly, Microbot Medical faces a potential delisting from the Nasdaq Capital Market if it fails to meet the minimum bid price requirement by April 7, 2025. These are the recent developments for Microbot Medical.
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