Microbot Medical Stock Is Moving Higher: What's Going On?

Microbot Medical Inc MBOT shares are trading higher Thursday after the company announced the completion of its GLP pivotal pre-clinical study.

What To Know: Three interventional radiologists utilized Microbot's LIBERTY Endovascular Robotic Surgical System to perform a total of 96 robotic navigations under FDA guidelines. Microbot said all study objectives were met. 

The medical device company noted that the results gave it confidence to move on to human studies. Microbot plans to submit an IDE application to the FDA soon as it transitions to a clinical-stage company.

"I am very pleased with the positive outcomes of the histopathology report and the completion of the GLP study. This gives us confidence to move forward to the next stage of human clinical studies," said Juan Diaz Cartelle, chief medical officer of Microbot.

Microbot is trending across various social platforms on Thursday. The stock may be getting a boost from retail trading activity.

Check This Out: 60/40 Portfolio Bounces Back From 2022 Slump: Is It The Right Investment Strategy For 2024?

MBOT Price Action: Microbot shares were up 40% at $1.85 at the time of publication, according to Benzinga Pro.

Photo: StockSnap from Pixabay.