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MSFT   415.37 (+0.42%)
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NVDA   821.45 (+3.83%)
NIO   5.81 (+1.04%)
AMD   202.18 (+5.01%)
BABA   74.61 (+0.78%)
T   16.97 (+0.24%)
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MU   95.78 (+5.71%)
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GE   159.04 (+1.37%)
DIS   111.85 (+0.24%)
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PYPL   60.64 (+0.50%)
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Microbot Medical spikes 150% on its Endovascular Surgical Robot

Microbot Medical stock price

Key Points

  • Microbot Medical makes remote-controlled micro-robotics systems to assist medical practitioners with minimally invasive surgical procedures.
  • Microbot’s LIBERTY robotic system announced successful pre-clinical tests on animals in Europe performed by six leading European interventional radiologists.
  • The company is preparing for human trials later in 2023.
  • Microbot has no revenues and announced a $1.4 million direct offering at $2.20 on the news.
  • 5 stocks we like better than Microbot Medical

Microbot Medical Inc. NASDAQ: MBOT stock spiked more than 150% on a massive 194 million share volume on a successful pre-clinical animal study for its LIBERTY surgical robotic system. Shares hit a high of $4.37 intraday before closing at $3.19 on May 22, 2023. The company also announced a $1.4 million direct offering at $2.20 per share. Microbot is a pre-clinical stage company that develops robotic systems to assist medical practitioners with minimally invasive interventional procedures. The company is not another Intuitive Surgical Inc. NASDAQ: ISRG as it has yet to generate any revenues and still needs to do human trials and FDA approval. Their front runner is the LIBERTY surgical robotic system. 

LIBERTY Surgical Robotic System

The LIBERTY system is designed to navigate guidewires and microcatheters through the vascular system, eliminating the heavy capex required for dedicated staffed Cath-lab rooms. Cath-labs is short for catheter laboratories, where catheters are used for minimally invasive procedures and catheter-based procedures like angiograms, angioplasties, stenting and installation of defibrillators and pacemakers. Cath-labs are equipped with expensive imaging equipment, including fluoroscopes.

LIBERTY Features

LIBERTY can streamline Cath-lab procedures combined with its One and Done technology or other guidewire technologies. LIBERTY provides linear, rotational and tip control and aims to reduce exposure to ionizing radiation and the need for heavy lead vests. The company partnered strategically on Dec. 22, 2021, with medical technology provider Stryker Corporation NYSE: SYK to integrate some of Stryker’s instruments with LIBERTY to address neurovascular procedures.


Pre-Clinical Animal Study Success

On May 22, 2023, Microbot announced a 100% success rate for LIBERTY used in a European pre-clinical animal study. This news surged the volume and price of Microbot shares. The study comprised six European interventional radiologists performing 48 catheterizations to pre-determined vascular targets with a 100% success rate of reaching the intended target. Vascular targets included distal branches of gastric, hepatic, splenic, mesenteric, renal and hypogastric arteries. The radiologists found the LIBERTY system easy to set up and control procedures remotely and intuitively using the remote controller.

Microbot Medical CMO Comments

Microbot Chief Medical Officer Dr. Eyal Morag commented, “The results of the multi-day study continue to validate LIBERTY and is further evidence that the ongoing adjustments we have made will ensure the safety and efficacy of the system as we plan to enter the human clinical phase during the second half of the year.” He continued, “We believe this, along with other expected opportunities for peer-reviewed publications, will lay the foundation of showing the significant benefits LIBERTY is expected to bring when commercialized and helping to accelerate early adoption,”

Microbot Medical FOMO Risks

Before you jump in head first, it's prudent to be aware of the risks involved. Don't let the fear of missing out (FOMO) force your hand in chasing shares. Microbot is a pre-clinical study developmental company. They don't have a commercial product and still need to conduct human trials on its LIBERTY robotic system. The company has been raising cash levels through secondary offerings. They did a $5 million secondary on Oct. 21, 2022, and made a $1.4 million direct offering on 5/22/2023 for 655.6K shares at $2.20 per share. The company has NO REVENUES and 18 employees. Any investment in penny stocks is pure speculation.

Microbot Medical Skimpy Financials

According to its latest 10-K filed May 17, 2023, the company had losses of ($2.85 million) in its Q1 2023 ending March 31, 2023. It had approximately $5.06 million in cash on March 31, 2023. The company announced a $1.4 million direct offering on May 22, 2023. The company said it will use proceeds for the continued development, commercialization and regulatory activities for its LIBERTY Robotic System. The technology looks compelling; the question is whether it can take LIBERTY to the commercial stage before running out of cash. It must also attain U.S. Federal Drug Administration (FDA) approval.

 Microbot Medical analyst ratings and price targets are at MarketBeat. 

Weekly Inverted Cup and Possible Handle

The weekly candlestick chart for MBOT shows a large inverse cup with a rounding top attempting to form a handle. The inverted cup lip line formed at the weekly market structure low (MSL) trigger at $1.40 in December 2018. Shares made two large spikes to $19.40 in January 2019 and $20.15 in December 2019.

MBOT stock chart

MBOT formed a rounding top a bounces rose to lower highs while drops made lower lows. The inverse cup lip line was retested when it broke in May 2023. Shares slipped under the $1.40 lip line which also became the market structure low (MSL) buy trigger.

MBOT exploded higher on May 22, 2023, on the announcement of its European animal study success for LIBERTY sending shares to a high of $4.37 before pulling back on news of the $1.4 million direct offering. The weekly stochastic is still trying to bounce through the 20-band. Pullback support levels are at $2.12, $1.61, $1.40 weekly MSL trigger and $1.05 swing low.

 

 

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Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Microbot Medical (MBOT)
2.9254 of 5 stars
$1.33+3.9%N/A-1.11Buy$8.00
Stryker (SYK)
4.9389 of 5 stars
$353.00+1.1%0.91%42.79Moderate Buy$331.52
Intuitive Surgical (ISRG)
4.6218 of 5 stars
$397.21+3.0%N/A78.97Moderate Buy$371.60
Intuit (INTU)
4.942 of 5 stars
$665.24+0.4%0.54%67.88Moderate Buy$633.29
Compare These Stocks  Add These Stocks to My Watchlist 

Jea Yu

About Jea Yu

  • JeaYu21@gmail.com

Contributing Author

Trading Strategies

Experience

Jea Yu has been a contributing writer for MarketBeat since 2018.

Areas of Expertise

Equities, options, ETFs and futures; fundamental, qualitative, quantitative and technical analysis and pattern identification; active and swing trading; trading systems and methodology development

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Bachelor of Arts, University of Maryland, College Park

Past Experience

U.S. equity markets trader, writer and analyst for over 25 years. Published four books by publishers McGraw-Hill, John Wiley & Sons, Marketplace Books and Bloomberg Press. Speaker at various expos and seminars and has been quoted and featured in USA Today, The Wall Street Journal, Traders Magazine, The Financial Times and various trade publications, including Stocks & Commodities, Active Trader and Online Investor.


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