Welcome to our dedicated page for Monogram Orthopaedics news (Ticker: MGRM), a resource for investors and traders seeking the latest updates and insights on Monogram Orthopaedics stock.
About Monogram Orthopaedics Inc.
Monogram Orthopaedics Inc. (NASDAQ: MGRM) is an innovative company at the forefront of the orthopedic and medical robotics industries, leveraging advanced technologies to redefine joint replacement procedures. Focused on improving surgical precision and patient outcomes, Monogram integrates 3D printing, robotics, and AI-driven machine vision to create patient-optimized orthopedic implants and surgical systems. Its flagship product, the mBȏs TKA System, is designed to autonomously execute precision tasks during joint replacement surgeries, offering a scalable solution for personalized, load-bearing implants.
Core Business and Technology
Monogram's core business revolves around the development and commercialization of robotic surgical equipment, orthopedic implants, and related software. The company employs a unique approach by linking advanced pre-operative imaging with robotics and automated digital analysis algorithms. This innovation enables the creation of high-precision, patient-matched implants that are press-fitted into cavities prepared by its robotic systems. Monogram's mPress implants have already received FDA clearance, and the company is actively pursuing further regulatory approvals for its robotic systems.
Market Position and Differentiation
Operating within the $19.4 billion knee replacement market, Monogram addresses a critical need for more precise and effective joint replacement solutions. The company differentiates itself through its autonomous robotic systems, which offer unparalleled accuracy and efficiency compared to traditional manual and semi-active methods. This hands-free approach not only reduces surgical errors but also enhances patient outcomes by delivering well-balanced, bone-sparing implants. Monogram's robust intellectual property portfolio further strengthens its competitive position in the orthopedic robotics space.
Strategic Initiatives and Partnerships
Monogram has established strategic collaborations to accelerate its commercialization efforts. Notably, it has partnered with Shalby Limited, a leading global orthopedic hospital chain, to conduct multicenter clinical trials for its mBȏs TKA System. These trials aim to validate the safety and effectiveness of its technology in real-world settings. Additionally, Monogram works closely with Reliance Life Sciences to navigate regulatory processes in international markets, underscoring its commitment to global expansion.
Challenges and Opportunities
While Monogram faces challenges such as navigating regulatory hurdles and competing with established players like Stryker and Zimmer Biomet, its focus on innovation and surgeon-centric design provides significant growth opportunities. The company's autonomous cutting technology, which improves surgical speed without compromising safety, positions it as a disruptive force in the orthopedic market. By addressing the high failure rates of traditional knee replacements, Monogram aims to set a new standard in patient care and surgical efficiency.
Conclusion
Monogram Orthopaedics Inc. exemplifies the potential of AI-driven robotics to revolutionize healthcare. By combining expertise in orthopedics, robotics, and 3D printing, the company is well-positioned to transform joint replacement procedures, offering scalable, patient-specific solutions. Its commitment to innovation, strategic partnerships, and robust IP portfolio underscores its ambition to become a leader in the orthopedic robotics industry.
Monogram Technologies Inc. (NASDAQ:MGRM) has successfully closed its upsized and oversubscribed $13 million public offering of 8.00% Series D Convertible Cumulative Preferred Stock. The company sold 5,790,479 units, each comprising one share of Series D Preferred Stock and one common stock purchase warrant. The offering attracted 3,023 investors and provided Monogram with gross proceeds of approximately $13 million.
CEO Benjamin Sexson stated that the funds will provide ample cash runway for near-term commercialization milestones over the next 12 months, supporting key initiatives such as clinical trials and technology development. The company is also working on obtaining FDA clearance for its 510(k) submission. Monogram plans to use the net proceeds of approximately $11.7 million for general corporate purposes, operational needs, and strategic initiatives, including new technology development and potential acquisitions.
Monogram Technologies Inc. (NASDAQ:MGRM), an AI-driven robotics company focused on orthopedic surgery, has declared a dividend of $0.0255 per share for holders of its 8.00% Series D Convertible Cumulative Preferred Stock. The dividend will be paid in kind based on the closing price of Monogram's common stock on September 30, 2024. Shareholders of record as of October 1, 2024 will receive the dividend on October 15, 2024.
The company has established a quarterly dividend schedule for Series D Preferred Stockholders, with payments to be made on or about the 15th day of January, April, July, and October, starting from October 15, 2024.
Monogram Technologies (NASDAQ:MGRM), an AI-driven robotics company specializing in orthopedic surgery, announced an upsize to their continuous offering from $10 million to $12.5 million. Each unit comprises one share of 8.00% Series D Convertible Cumulative Preferred Stock and one warrant to purchase common stock at $3.375 per share. Warrants become exercisable 180 days post-July 9, 2024, through July 8, 2025. Series D Preferred Stock can convert into common stock at the holder's option. Proceeds will fund corporate and operational needs, technology development, and potential acquisitions. CEO Benjamin Sexson highlighted the strengthened capacity to support strategic initiatives. The offer closes on September 12, 2024, subject to standard conditions.
Monogram Technologies (NASDAQ:MGRM) reported its Q2 2024 financial results, highlighting key operational achievements. The company submitted a 510(k) premarket filing to the FDA for its mBôs TKA System, which passed the administrative review. Monogram also secured a strategic collaboration with Shalby for multicenter clinical trials in India. Financial results showed R&D expenses decreased to $2.4 million from $3.0 million year-over-year, while marketing expenses significantly dropped to $92,000 from $1.7 million. The net loss improved to $3.5 million compared to $5.2 million in the prior-year quarter. Cash and cash equivalents stood at $7.3 million as of June 30, 2024.
Monogram Technologies Inc. (NASDAQ:MGRM) has announced a strategic collaboration with Shalby (NSE:SHALBY) to conduct a multicenter clinical trial for its mBȏs TKA System. Shalby, the world's largest orthopedic hospital chain, will enroll patients at various sites in India to evaluate the system's safety and effectiveness. This collaboration follows Monogram's recent 510(k) submission to the FDA, which has passed the Administrative Review.
Key points:
- Shalby performs over 14,000 annual knee replacement surgeries globally
- The Indian TKA market size is approximately 200,000 per year, growing at a 20% CAGR
- The trial will use Consensus CKS implants, equivalent to Monogram's mPress implants
- Post-trial, Monogram may transfer a robot to Shalby's hospital system
- Both companies see potential for expanded collaboration and global market opportunities
Monogram Technologies (NASDAQ:MGRM) has submitted a 510(k) premarket filing to the FDA for its mBôs TKA System, an AI-driven robotic system for orthopedic surgery. The 28,214-page application, submitted on July 19, 2024, has passed the FDA Administrative Review. An FDA decision is expected within 90 days, though the process may be paused if additional information is requested.
The submission represents a significant milestone for Monogram and is expected to be a catalyst for institutional engagement. The company believes the application is strong, with thorough testing based on FDA feedback. Several orthopedic surgeons have expressed support for the mBôs system, praising its focus on patient safety, accuracy, and efficiency. Monogram anticipates that this submission will open up funding opportunities and increase traction with institutional players.
Monogram Technologies (NASDAQ:MGRM), an AI-driven robotics company focused on orthopedic surgery, has announced a business update conference call scheduled for August 14, 2024, at 4:30 p.m. Eastern Time. The call will coincide with the release of the company's financial results for Q2 2024, ending June 30. CEO Ben Sexson and CFO Noel Knape will host the call, which will include a presentation and a Q&A session.
Investors can access the call through a registration link provided by the company. The presentation will be available for viewing during the webcast and can also be accessed via Monogram's investor relations website. A press release detailing the financial results will be issued prior to the call.
Monogram Technologies announced a continuous public offering of up to $10 million in units, priced at $2.25 per unit. Each unit includes one share of 8.00% Series D Redeemable Convertible Cumulative Preferred Stock and a warrant to purchase one share of common stock at $3.375 per share. The offering is expected to result in net proceeds of approximately $9.25 million if all units are sold, after estimated commissions and expenses. The Series D Preferred Stock pays an annual dividend of $0.18 per share and is convertible into common stock. The company may redeem the preferred stock at a premium, which declines over time. Digital Offering, is acting as the sole managing selling agent, with the offering being conducted on a "reasonable best efforts" basis.
Monogram Technologies will host an investor and analyst day on June 20, 2024, at its headquarters in Austin, Texas. The event will feature a presentation and Q&A session by CEO Ben Sexson, Founder & Chief Medical Officer Dr. Douglas Unis, CTO Dr. Kamran Shamaei, and CFO Noel Knape. Attendees will see a product demonstration of the mBôs Precision Robotic Surgical System, designed to enhance orthopedic surgeries. The company plans to complete Verification and Validation testing for the mBôs TKA System by Q2 2024 and aims for a 510(k) submission in the second half of 2024. Monogram is also preparing for clinical trials outside the U.S. The event will include tours of the headquarters and cadaver lab, and the company recently shared its Q1 2024 financial results.
Monogram Orthopaedics announced a corporate name change to Monogram Technologies effective May 15, 2024. The AI-driven robotics company, focused on orthopedic surgery, is merging its subsidiary, Monogram Technologies, into the parent company. The ticker symbol will remain 'MGRM'. CEO Benjamin Sexson stated that the new name reflects the company’s evolution and broadening technological applications. Monogram is progressing towards a 510(k) submission for its robotic surgical system, Monogram mBôs™ TKA System, and is developing mVision navigation. The company aims to leverage its robust IP portfolio to drive growth and long-term shareholder value.
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