Microbot Medical Secures Grant for Robotic System Development, Raises $7.6M and Enhances Operational Capabilities.

Microbot Medical has raised $7.6 million by issuing shares of its common stock and received a non-dilutive grant of NIS 2.15 million from the Israel Innovation Authority to enhance its operational capabilities for its LIBERTY Endovascular Robotic System. The grant underscores the company's market potential and competitive advantages, strengthening its financial position and operational readiness. The most recent analyst rating on MBOT stock is a Buy with a $9.00 price target.

Microbot Medical Inc. (Nasdaq: MBOT) has recently secured a significant funding boost for its LIBERTY Endovascular Robotic System. The company has raised $7.6 million through the issuance of shares of its common stock and received a non-dilutive grant of NIS 2.15 million from the Israel Innovation Authority (IIA) [1]. The funding will be used to enhance the company's operational capabilities, particularly its manufacturing processes, as it awaits FDA marketing clearance for the LIBERTY System.

The grant, valued at approximately $630,000, underscores the company's market potential and competitive advantages, including its single-use, disposable robotic technology. The IIA's decision was influenced by several factors, including the size of the target market, the competitive advantages of the single-use disposable robot, the regulatory status of the LIBERTY System, and the expected healthcare benefits it is expected to deliver [2].

The LIBERTY System is currently an investigational device pending FDA 510(k) clearance and is not available for sale in the U.S. However, the funding will strengthen Microbot Medical's financial position and operational readiness, positioning it for successful commercialization once regulatory approval is secured. The most recent analyst rating on MBOT stock is a Buy with a $9.00 price target, reflecting investor confidence in the company's prospects [3].

The funding also comes at a critical time for Microbot Medical, as it transitions from a pre-commercial stage to a commercially focused entity. The company's Chief Financial Officer, Rachel Vaknin, commented that the non-dilutive grant strengthens their balance sheet and allows for further enhancement of operational readiness plans as they await the FDA's marketing clearance decision.

References:
[1] https://www.quiverquant.com/news/Microbot+Medical+Inc.+Secures+NIS+2.15+Million+Grant+from+Israel+Innovation+Authority+to+Enhance+LIBERTY%C2%AE+System+Commercialization+Efforts
[2] https://www.stocktitan.net/news/MBOT/microbot-medical-receives-non-dilutive-grant-to-enhance-operational-naxlgzyczraw.html