Vicarious Surgical Archives - Page 2 of 3

Vicarious Surgical cuts 14% of its workforce

Vicarious Surgical (NYSE:RBOT) announced a layoff in order in order to reduce cash burn and boost R&D spending at the surgical robotics company.

CFO William Kelly told analysts yesterday evening that the present economic environment has Vicarious Surgical focusing on getting a quality robotic surgery system “out the door fast.” He said the company has reduced its workforce by 14%. The company’s most recent annual report listed 165 employees. That means the layoff could have involved roughly two dozen employees.

Those who were let go were mostly engaged in selling, general, and administrative expenses, according to CEO Adam Sachs.

“While previously, it made sense for the company to deploy greater resources and parallel path multiple contingencies in order to absolutely minimize timeline risk wherever possible. In the current market environment, fiscal discipline requires a much more lean approach, focused on growing equity valu…

DeviceTalkers assemble for the final Newsmakers of 2022

In this episode, your diligent team of DeviceTalkers assembled to review our Top 10 events, trends and newsmakers of 2022.

Executive Editor Chris Newmarker, Pharma Editor Brian Buntz, Managing Editor Jim Hammerand, Senior Editor Danielle Kirsh and Associate Editor Sean Whooley joined me, DeviceTalks Editorial Director Tom Salemi, for the latest DeviceTalks podcast.

We’ve got some highs — robots, diabetes — and some lows — supply chain, recalls — and a whole lot of interesting things in between. All-in-all, we’re bullish on what’s to come in 2023! And we only mentioned COVID-19 once.

Companies mentioned in our wide-ranging discussion include Abbott, Abiomed, Ambu, Becton Dickinson, Boston Scientific, CMR Surgical, Dexcom, embecta, Intuitive, Johnson & Johnson Medtech, Medtronic, Neuralink, Philips, Senseonics, Stryker, Synchron, Vicarious Surgical, Zimmer Biomet, ZimVie and many more.

You can listen to other DeviceTalks Podcast Network shows at…

These 14 medical device inventions are the best, Time magazine says

Clockwise from top left, Osso VR, Phonak’s Audéo Fit, Molli Surgical’s breast cancer localization system, and Esper Bionics’ Esper Hand were among 14 medical device innovations to make it into Time magazine’s Best Inventions of 2022. [Images courtesy of the companies]

Fourteen medical devices ranging from patient monitoring to surgical robotics recently made it into Time magazine’s Best Inventions of 2022.

For over 20 years, Time magazine has highlighted the 100 most impactful devices and ideas around the world. The list is compiled through nominations from the publication’s editors and global correspondents, with special attention to categories such as medical innovations, green energy and electric vehicles.

Time graded each nominee on a number of key factors that include originality, efficacy, ambition and impact.

There were 14 medical devices honored in this year’s list,…

Vicarious Surgical posts larger-than-expected losses in Q3

Vicarious Surgical (NYSE:RBOT) posted third-quarter results today that fell short of the consensus forecast on Wall Street.

The Waltham, Massachusetts-based robotics technology developer reported a net loss of $24.7 million, or -$0.20 per share, for the three months ended Sept. 30, 2022.

That’s a narrower loss for the pre-revenue company than the company’s $45.1 million loss in Q3 2021, or-$0.49 per share.

The company said its cash burn rate for its latest quarter was $14.5 million, and that it had $126.8 million in cash and equivalents on hand at the end of September.

Operating expenses increased to $22.2 million from $5.2 million in Q3 2021, while R&D spending increased to $12.1 million for the quarter compared to $5.2 million in the prior-year period.

“During the third quarter, our team completed the integration phase of the Beta 2 system build, and I’m incredibly encouraged by the results of our cadaveric testing. We loo…

How IP protection is enabling robotic surgery innovation

Vicarious Surgical has been generating buzz in the robotic surgery space, but none of it would happen if IP protection wasn’t shielding the value of its technology.

[Beta 2 image courtesy of Vicarious Surgical]

Count Vicarious Surgical among a group of relatively young surgical robotics companies seeking to innovate and make a difference in a space that has been dominated by Intuitive. Vicarious’ technology uses proprietary human-like surgical robots combined with 3D visualization to transport surgeons inside the patient to perform minimally invasive surgery.

Vicarious Surgical CEO Adam Sachs announced on his latest earnings call that the Waltham, Massachusetts–based company has completed the design of its Beta 2 robotic surgery platform. It’s beginning the integration phase of the build, and the company has inked center of excellence agreements with the nationwide HCA Healthcare as well as University Hospitals…

16 surgical robotics companies you need to know

Intuitive remains the dominant surgical robotics company, but corporations ranging from Medtronic to Vicarious Surgical look to compete. The Da Vinci Xi robotic surgery system. Intuitive continues to dominate the space. [Image courtesy of Intuitive]Robotic-assisted surgery remains one of the hottest spaces in medtech. Intuitive, which pioneered the field in the 1990s and early 2000s, continues to innovate. At the same time, a host of other companies are looking to compete.

Companies making headlines in the robotic surgery space over the past year include:

Company Robotic system(s) Intuitive Surgical Da Vinci Xi, Da Vinci X, Da Vinci SP, Ion Medtronic Hugo Johnson & Johnson Monarch, Velys, Ottava Stryker Mako Siemens Healthineers’ Corindus CorPath GRX Vicarious Surgical Beta 2 Titan Medical Enos Asensus Surgical Senhance Moon Surgical Maestro Momentus Surgical Anovo Virtual Incision MIRA Stereotaxis Genesis RMN, Vdrive, Niobe Monteris …

Vicarious Surgical completes Beta 2 system design

Vicarious Surgical (NYSE:RBOT) continues to progress in the development of its Beta 2 robotic surgery platform, though supply chain disruption poses risks for the company’s timeline.

That appeared to be the big message out of the Waltham, Massachusetts–based surgical robotics company’s Q2 earnings report yesterday evening.

Vicarious Surgical’s technology uses proprietary human-like surgical robots combined with 3D visualization to transport surgeons inside the patient to perform minimally invasive surgery. CEO Adam Sachs noted during the company’s earnings call that updates to the previous Beta 1 system are focusing on ergonomic changes for surgeon comfort — and improved 3D visualization, sensing and motion capabilities. The idea is to enable the surgeon to move freely within the abdominal cavity with the system, he said.

“With significant and very positive feedback on the initial Beta 2 ergonomic prototypes, we have complet…

Vicarious Surgical reports wider-than-expected losses in Q1

Vicarious Surgical (NYSE:RBOT) stock was down in after-hours trading after it reported losses that were wider than Wall Street expectations.

The Waltham, Massachusetts–based robotic surgery technology developer this evening reported an adjusted net loss of $18.2 million, or 15¢ per share, for the quarter ended March 31, 2022. The loss was more than triple the $5.2 million that Vicarious Surgical reported during Q1 2021, and it missed The Street by 2 pennies.

RBOT shares were down more than 11% to $3.56 in after-hours trading.

“We have made measurable progress against our developmental and organizational goals, including the completion of our Beta 1 cadaveric surgical testing, qualification of our cleanroom for manufacturing of the Vicarious System, and the launch of our surgeon Luminary Group,” CEO Adam Sachs said in a news release. “We continue generating valuable insights as we finalize the Vicarious System, and we remain as excited a…

Vicarious Surgical names VP of operations

Vicarious Surgical this week announced that it appointed John Mazzola as VP of operations.

Mazzola brings more than 30 years of global operations and engineering management experience to the Waltham, Massachusetts-based surgical robotics company. He will be responsible for leading the strategic manufacturing plans for the Vicarious system as development progresses.

“We are excited to welcome John to our team as our vice president of operations,” said Adam Sachs, CEO and cofounder of Vicarious Surgical. “John’s deep operational and engineering expertise will be invaluable as we plan, develop, and execute upon our manufacturing strategies, processes, and procedures to bring next generation robotics to minimally invasive surgery.”

Prior to joining Vicarious, Mazzola was a VP of operations at Becton Dickinson Surgery where he oversaw a network of 10 manufacturing sites, a business planning and procurement organization, an advanced manufacturing engineering t…

Our top medtech stories of 2021

Covering the medical device industry enables writers to report on a wide range of world-changing news – financial markets, the pandemic, and the global supply chain problems – while also centering on jaw-dropping technology that improve patient care.

You’ll hear all those issues covered in our editorial’s team summation of their Top Stories of 2021 recorded in our recent episode of the DeviceTalks Weekly Podcast.

The editors of our life sciences pages picked the stories that meant most to THEM in a very transformational year.

The top 5 medtech news stories of 2021

The past year saw significant changes in the medtech space. Our editorial team picked their top stories.

The lingering COVID-19 pandemic was top of mind in 2021, but there was much more going on in the medical device industry. The Life Sciences editorial team here at WTWH Media discussed their top picks during the December 17 episode of our DeviceTalks Weekly podcast.

Go to our sister site Medical Design & Outsourcing to read more.

And here are some MassDevice stories that got social media attention in 2021…

The top 5 medtech news stories of 2021

The past year saw significant changes in the medtech space. Our editorial team picked their top stories.

The lingering COVID-19 pandemic was top of mind in 2021, but there was much more going on in the medical device industry. The Life Sciences editorial team here at WTWH Media discussed their top picks during the December 17 episode of our DeviceTalks Weekly podcast.

Tom Salemi, DeviceTalks Editorial Director: Vicarious Surgical goes public

Back in 2020, Vicarious Surgical seemed like the little surgical robotics company that could — seeking to succeed in a space dominated by Intuitive, with giants including Medtronic and Johnson & Johnson seeking to enter the market. Flash forward to 2021, and Vicarious was going public through a $1.1 billion special purpose acquisition company (SPAC) deal.

“We’ve got these smaller companies carving a niche for themselves,” Tom said of the surgical robotics space. He also noted that the deal was a great sign for medtech e…