MBOT stock moved higher in pre-market trading on January 13, 2020, after HC Wainright hiked its price target on the stock.
H.C. Wainwright analyst Raghuram Selvaraju raised his price target for Microbot Medical to $26 from $12 saying the company is publicly demonstrating the world’s first fully disposable LIBERTY robotic system for use in all endovascular procedures during the JPMorgan Healthcare Conference. The analyst believes Microbot could potentially complete animal studies of LIBERTY and start a human trial in the next 12 months. He currently projects that LIBERTY could be commercialized in late 2022 and generate peak sales of $1.3B by penetrating “just” 4% of the approximately 3M annual endovascular procedures in the U.S. Selvaraju reiterates a Buy rating on the shares.
On January 8, 2020, Microbot Medical Inc. (Nasdaq: MBOT) received an official communication from the European Patent Office (EPO) regarding its intention to grant European Patent Application No. 11795301, covering the Company’s Self-Cleaning Shunt (SCS™). Globally, the Company now has 36 patents issued/allowed and 16 patent applications pending worldwide.
“We have always maintained that a strong and growing intellectual property portfolio is one of our strongest assets and will enable us to maintain a sustainable competitive advantage while establishing barriers of entry to future competitors” said Harel Gadot, Chief Executive Officer, President, and Chairman. “We will continue to expand and seek protection for our unique innovative platforms. This provides the foundation for the establishment of a multi-generation product portfolio, including our latest introduction of the LIBERTY™ Robotic System, the world’s first fully disposable robotic system for use in neurovascular, cardiovascular and peripheral vascular procedures.”
The allowed patent application covers an inlet head for use on shunts, such as Ventriculoperitoneal (VP) Shunts which are implanted in Hydrocephalus patients for draining excess cerebrospinal fluid (CSF). The inlet head includes a tube with openings disposed in its wall, and a cleaning element comprising a central shaft with protruding bristles installed inside the tube, such that mutual vibratory motion between the cleaning element and the tube causes the bristles to move within the openings. Such movement maintains the openings clear and thereby prevents shunt occlusion.
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