FORT LAUDERDALE - Motus GI Holdings, Inc. (NASDAQ: MOTS), a medical technology company, announced today the issuance of a new patent by the United States Patent and Trademark Office (USPTO). The patent, #11904085, is for an advanced feature of the company's Pure-Vu system, aimed at improving the efficiency of endoscopic procedures.
The newly patented technology focuses on an automatic self-purging feature that enhances the Pure-Vu system's capability to manage irrigation pressure and clear blockages without intervention from physicians. This system is designed to detect and alleviate clogs in the evacuation channel used during colonoscopies, a common issue that can lead to procedure delays.
Mark Pomeranz, CEO of Motus GI, emphasized the importance of this innovation, noting that it can prevent delays caused by clogs and improve the overall experience for physicians. The self-purging feature uses sensors to identify suction loss and the location of blockages, automatically reversing the flow to clear the obstruction and reopen the channel.
This patent is a continuation of previous U.S. patent applications and is part of Motus GI's strategy to strengthen its intellectual property portfolio in the United States. The technology is particularly significant for inpatient endoscopy procedures, which often face challenges such as inadequate preparation of the GI tract leading to delays or repeated procedures. Research indicates that up to 50% of inpatient colonoscopies may result in an additional night of hospitalization due to these issues.
Motus GI Holdings, Inc. operates both in the U.S. and Israel, focusing on developing cost-efficient solutions for the diagnosis and management of gastrointestinal conditions.
This announcement is based on a press release statement from Motus GI Holdings, Inc.
InvestingPro Insights
As Motus GI Holdings, Inc. (NASDAQ: MOTS) continues to innovate within the medical technology space, the company's financial health and market performance provide essential context for investors. According to InvestingPro data, MOTS has a market capitalization of just over $1 million, reflecting its status as a micro-cap company with a niche focus. Despite the introduction of its new patent, the company is grappling with significant financial challenges. The latest data indicates a substantial revenue decline over the last twelve months as of Q3 2023, with a decrease of 37.46%. This is compounded by a staggering gross profit margin of -107.14%, which underscores the company's struggle to turn its top-line revenue into profit.
InvestingPro Tips highlight several concerns for investors considering MOTS. The company operates with a significant debt burden and is quickly burning through cash. Moreover, analysts do not anticipate the company will be profitable this year and have noted a decline in sales. These factors are reflected in the stock's performance, which has taken a considerable hit, experiencing a 95.42% decline in price total return over the last year. In light of these challenges, the company's recent technological advancements may face headwinds in the market.
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