Vicarious Surgical Inc. (RBOT) saw a push of 14.14% in the aftermarket. However, the last trading session closed at $10.47 with a decline of 18.2%.
Third Quarter 2021 results by RBOT – What’s happening?
On 8th November 2021, RBOT announced third quarter 2021 results. Operating costs for the third quarter of 2021 were $8.6 million, $3.3 million more than the same quarter the previous year. Moreover, R&D costs were $5.2 million in the third quarter of 2021, $2.5 million more than the third quarter of 2020. Not only this but the general and administrative costs came out to be $2.5 million. Lastly, the company reported cash and cash equivalents of $185 million.
How’s the quarter been?
This quarter commemorates the company’s initial public offering, and the company is extremely proud of the teams and workers for their contributions to the company’s success so far. RBOT is in a strong position to continue developing the next-generation robotics system. Not only this, but the team is delighted to report that they have just submitted a thorough regulatory strategy with the FDA in the form of a pre-submission.
Long-Term Lease – More About it
On 20th October 2021, RBOT announced the signing of a long-term lease deal in Waltham, MA, for an additional 30,000 square feet. The new facility will boost production capabilities and incorporate four demonstration and testing operating rooms. The facility is situated adjacent to Vicarious Surgical’s offices, and it is the company’s second structure on its growing site.
What’s Next?
Vicarious Surgical will be able to double its capacity for research, testing, and production as a result of the expansion. Lastly, this facility is an important milestone in the journey to invent, market, and expand the company.
About RBOT
RBOT, founded in 2014, is a revolutionary robotics business working to improve surgical process efficiency. Furthermore, the company’s innovative surgical method combines patented human-like surgical robots with virtual reality to send surgeons inside the patient for minimally invasive surgery. The FDA has given the Vicarious System Breakthrough Device Distinction, making it the first surgical robot to acquire this designation.
