Brad Williams's questions to Microbot Medical (MBOT) leadership • Q2 2017
Question
Brad Williams from the Freedom Investors Corporation questioned the company's cash burn rate relative to its stated 24-30 month runway. He also sought clarification on the status of any remaining convertible notes, the current development stage of the Self-Cleaning Shunt, and the company's history with government grants.
Answer
CFO David Naim clarified that the reported operating loss included a significant non-cash expense of $2.3 million, and the actual annual cash burn is approximately $4 million. He also confirmed all convertible notes have been converted. COO and GM Yehezkel Himelfarb stated the shunt's design is near-final but awaits results from ongoing studies before being locked. CEO Harel Gadot added that the company has successfully received grants for the shunt in the past and can apply for more for current and future projects.