MBOT - Microbot Medical suspends development of its self-cleaning shunt project
- Microbot Medical ( NASDAQ: MBOT ) on Tuesday said it had decided to suspend research and development of its self-cleaning shunt (SCS) project, effective immediately.
- Shares of the micro-cap medical device company fell 4.6% to $4.79 in morning trading.
- The SCS was being designed to prevent obstructions in the cerebrospinal fluid catheters implanted in the brain of patients who suffer from hydrocephalus, which is a condition in which excess fluid builds up in the cavities deep within the brain.
- MBOT will instead focus on advancing its LIBERTY robotic system to achieve its regulatory and commercial milestones.
- MBOT attributed its decision regarding the SCS project to "the conflicting commercialization pathways between LIBERTY and the SCS due to different hospital call points, and the anticipated lengthier regulatory process of the SCS."
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Microbot Medical suspends development of its self-cleaning shunt project