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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 (NASDAQ: MOTS) announced the release of case studies demonstrating the effectiveness of its Pure-Vu System in challenging colonoscopies. The studies, collected from top U.S. hospitals, reveal significant benefits for patients who struggle with bowel preparation. CEO Tim Moran highlighted the system's ability to enhance visualization, leading to better clinical outcomes and reduced healthcare costs. The Pure-Vu System has shown over 95% success in ensuring bowel cleanliness and is FDA-cleared for use in the U.S. and CE marked in Europe, addressing a critical need in colonoscopy procedures.
Motus GI Holdings, Inc. (NASDAQ: MOTS) announced a collaboration with Dr. Nirav Thosani of Memorial Hermann Hospital to implement their Pure-Vu® System for enhancing inpatient colonoscopy procedures. This FDA-cleared device aims to address inadequate bowel preparation, potentially reducing hospital stays and improving clinical outcomes. The Pure-Vu® System is now in over 20 U.S. hospitals and is part of Motus GI's strategy to expand its market presence. The company focuses on training staff to optimize the system's use and looks to broaden its reach within the Memorial Hermann System.
Motus GI Holdings, Inc. (NASDAQ: MOTS) has announced its participation in the Piper Sandler 32nd Annual Healthcare Conference, happening virtually from December 1-3, 2020. CEO Tim Moran will engage in a fireside chat available for webcast from November 25 to December 3. Additionally, the management team will hold 1x1 meetings on December 2, exclusively via Piper Sandler. Motus GI specializes in endoscopy solutions aimed at improving clinical outcomes and cost-efficiency in gastrointestinal diagnostics.
Motus GI Holdings reported a substantial revenue increase to approximately $33,000 in Q3 2020, up from $3,000 in Q3 2019, due to a rebound in inpatient colonoscopy volumes and heightened demand for its Pure-Vu system. The company achieved over a 50% rise in Pure-Vu-enabled procedures and initiated new evaluations at key hospitals. Despite a net loss of $3.9 million, improved cost-cutting measures reduced cash burn by roughly 50%. Motus GI holds $23.7 million in cash as of September 30, 2020, and has secured 29 patents, bolstering its market position.
Motus GI Holdings (NASDAQ: MOTS) has launched a clinical protocol with NYU Langone Health for its Pure-Vu® GEN2 System to enhance inpatient colonoscopy management. This collaboration aims to improve bowel preparation efficiency, addressing issues that lead to missed diagnoses and prolonged procedures. The Pure-Vu System, already used in over 20 U.S. hospitals, cleans poorly prepared colons during procedures, facilitating a streamlined workflow. The company is focused on physician training and implementing standardized protocols for optimal Pure-Vu usage in hospitals.
Motus GI Holdings, Inc. (NASDAQ: MOTS) will release its Q3 2020 financial results on November 12, 2020, after market close. A conference call will follow at 4:30 p.m. ET to discuss the results and corporate updates. The company specializes in endoscopy solutions aimed at improving clinical outcomes for gastrointestinal conditions. Interested parties can access the conference call via phone or webcast, with a replay available on the website for 90 days post-event.
Motus GI Holdings, Inc. (NASDAQ: MOTS) announced a key opinion leader (KOL) call scheduled for October 16, 2020, focusing on enhancing inpatient endoscopy outcomes with the Pure-Vu® system. Dr. Seth Gross from NYU Langone will address challenges in inpatient colonoscopy and discuss the benefits of the Pure-Vu system during the COVID-19 pandemic. The system, FDA-cleared for use, integrates with standard colonoscopes and is currently in over 20 U.S. hospitals, aiming to improve clinical outcomes and reduce hospital costs.
Motus GI Holdings, Inc. (NASDAQ: MOTS), a medical technology firm, announced its participation in two upcoming virtual investor conferences. The H.C. Wainwright 22nd Annual Global Investment Conference will take place on September 15, 2020, at 2:00 PM ET, accessible via webcast. Subsequently, the Oppenheimer Fall Healthcare Life Sciences & MedTech Summit is scheduled for September 22, 2020, at 3:20 PM ET. Motus GI focuses on endoscopy solutions that enhance clinical outcomes and cost-efficiency in gastrointestinal condition management.
Motus GI Holdings, Inc. (NASDAQ: MOTS) has announced a registered direct offering of 8,733,625 shares of common stock at $1.145 per share, expected to generate approximately $10 million in gross proceeds. The financing is set to close around September 1, 2020. The funds will be utilized for commercialization of the Pure-Vu System, R&D activities, and general corporate purposes. Additionally, the company will issue warrants for the same number of shares, exercisable at $1.30 per share over five years.
Motus GI Holdings, Inc. (NASDAQ: MOTS), a medical technology company focused on gastrointestinal endoscopy solutions, is set to release its second-quarter 2020 financial results on August 11, 2020, after market close. The management will host a conference call and webcast at 4:30 p.m. ET to discuss these results and provide updates on corporate developments. The press release emphasizes the company's commitment to improving clinical outcomes and cost efficiency in gastrointestinal diagnostics and management.
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