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Motus GI Holdings, Inc. (NASDAQ: MOTS) is a medical technology company headquartered in the United States with subsidiaries in the U.S. and Israel. The company is committed to enhancing endoscopy outcomes, reducing costs, and improving patient experiences. A primary focus of Motus GI is the development and commercialization of the Pure-Vu® System.
The Pure-Vu® System is a medical device designed to improve the colonoscopy experience by aiding in the early detection and prevention of colorectal cancer and other diseases of the colon and rectum. This innovative system, which has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) and CE Mark approval in Europe, integrates with standard colonoscopes. It facilitates cleaning of a poorly prepared colon during the colonoscopy procedure while maintaining the standard workflow and techniques.
Recent achievements of Motus GI include strengthening their market presence through strategic partnerships and ongoing projects aimed at enhancing the Pure-Vu® System’s functionality and reach. The company continues to focus on securing additional regulatory approvals, expanding its market base, and improving its financial performance.
Motus GI Holdings, a medical technology company, has announced its participation in two investor conferences in December 2021. The company will be part of the 33rd Annual Piper Sandler Healthcare Conference on December 1 and the Sidoti December Virtual Micro Cap Investor Conference on December 8. These events will feature management presentations and virtual meetings. A webcast of the Piper conference will be archived for 90 days on the company's website. Motus GI focuses on endoscopy solutions for gastrointestinal conditions.
Motus GI reported a significant 40% revenue increase for Q3 2021 compared to Q2 2021, marking its fifth consecutive quarter of revenue growth. Revenue reached $141,000, up from $33,000 year-over-year. The company is preparing to file a 510(k) submission for its Pure-Vu EVS system by the end of 2021, which enhances operational efficiency. Additionally, Motus GI plans a multi-center trial targeting reimbursement for high-need outpatient procedures involving over 20 million colonoscopies annually in the U.S. As of September 30, 2021, the company reported a net loss of $4.8 million.
Motus GI Holdings, Inc. (NASDAQ: MOTS) will release its third-quarter financial results on November 12, 2021, before the market opens. The management team will host a conference call at 8:30 a.m. ET to discuss the results and provide updates on corporate developments. The details for the call include domestic dialing at 877-407-0792 and international at 201-689-8263, with a passcode of 13723885. A replay of the webcast will be available for 90 days on Motus GI's website.
Motus GI Holdings, Inc. (NASDAQ: MOTS) announced promising results from an independent study of its Pure-Vu System at the 2021 ACG Annual Scientific Meeting. The study demonstrated the device's effectiveness in aiding colonoscopies, particularly for patients with inadequate bowel preparation (IBP). Out of 40 procedures, Pure-Vu facilitated the completion of 37 colonoscopies and was used successfully in emergency cases without bowel prep. The mean BBPS score improved significantly post-cleansing, indicating the device's potential for enhancing clinical outcomes in gastrointestinal procedures.
Motus GI Holdings, Inc. (NASDAQ: MOTS) announces the passing of independent director Samuel R. Nussbaum, MD, on September 23, 2021. Serving on the board since 2016, Dr. Nussbaum was a member of the compensation and nominating committees. His contributions to medical innovation and healthcare were acknowledged by CEO Tim Moran and Chairman David Hochman, who praised his leadership and mentorship. Dr. Nussbaum had extensive experience in healthcare and business, including roles at Anthem and consulting for life sciences and healthcare entities.
Motus GI Holdings (NASDAQ: MOTS) announced its management team will present at the Oppenheimer & Co. Inc. Fall Healthcare Summit on September 21, 2021, at 9:55 AM ET. The company, known for its endoscopy solutions aimed at improving gastrointestinal condition management, will also engage in virtual investor meetings from September 20-21, 2021. A replay of the webcast will be available for 90 days on their website. For more information, visit www.motusgi.com.
Motus GI Holdings, Inc. (NASDAQ: MOTS) announced the enrollment of patients in an EU outpatient study for the Pure-Vu System at GastroZentrum Lippe, a leading endoscopy clinic in Germany. This clinical trial targets patients with poor bowel preparation and seeks to assess the effectiveness of the Pure-Vu System in improving colonoscopy quality. The study initiated in June 2021 plans to enroll 44 patients across two sites and aims to gather clinical data to support future commercialization in Europe's significant colonoscopy market, projected to reach 1.7 million procedures in 2021.
Motus GI Holdings, Inc. (NASDAQ: MOTS), a medical technology firm specializing in endoscopy solutions, announced its participation in two virtual investor conferences in September 2021. The first event is the Colliers Institutional Investor Conference on September 9, followed by the H.C. Wainwright 23rd Annual Global Investment Conference from September 13 to 15, with management meetings scheduled for these dates. The company aims to enhance clinical outcomes and cost efficiency for gastrointestinal conditions.
Motus GI reported a 95% revenue increase in Q2 2021, marking its fourth consecutive quarter of growth. Revenue reached approximately $100,000, up from $1,000 a year prior and $51,000 in Q1 2021. The company received FDA clearance for its Pure-Vu sleeve for upper GI endoscopies and initiated pilot patient cases. Additionally, Motus GI secured $12 million in minimally dilutive credit financing to support sales growth. The company is advancing its Pure-Vu portfolio and has enrolled patients in EU clinical studies for CRC screening.
Motus GI Holdings, Inc. (NASDAQ: MOTS), a medical technology company focused on gastrointestinal endoscopy solutions, will announce its second quarter financial results on August 12, 2021, after market close. A conference call is scheduled for 4:30 p.m. ET to discuss these results and provide updates on corporate developments. The call will be accessible domestically at 877-407-0792 and internationally at 201-689-8263, using passcode 13720949. A replay of the webcast will be available on their website for 90 days following the event.
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