Vicarious Surgical Reports Third Quarter 2023 Financial Results
Vicarious Surgical Inc. (“Vicarious Surgical” or the “Company”) (NYSE: RBOT, RBOT WS), a next-generation robotics technology company seeking to improve patient outcomes as well as both the cost and efficiency of surgical procedures, today announced financial results for the quarter ended September 30, 2023. Management will host a corresponding conference call at 4:30 p.m. ET today, November 13, 2023.
The third quarter brought several successes for our business, but also introduced new challenges as we focused on the build and integration of our Version 1.0 System,” said Adam Sachs, Co-Founder and Chief Executive Officer. “While we were pleased with our ability to extend our cash runway through an equity follow-on offering and make meaningful progress on our individual sub-system builds, the impact from recent market-driven cost cutting initiatives combined with certain integration challenges have compelled us to revise our development schedule. We now expect to complete the Version 1.0 System build and integration during the Fall of 2024, and consequently anticipate a De Novo submission around early to mid 2026. Although there is still work ahead, we remain confident that our differentiated technology will allow us to revolutionize surgical robotics and transform the standard of care.
