Monogram Orthopaedics (NASDAQ:MGRM) Announces Completion of $1 Million Common Stock Purchases by Related Parties

Monogram Orthopaedics, a leading AI-driven robotics company emphasizing advancements in orthopedic surgery, made a notable disclosure in a press release on December 2, 2024. The company confirmed that specific related parties, including Chief Financial Officer Noel Knape, finalized acquisitions of Monogram’s common stock on the open market, totaling an impressive $1 million.

This recent development was highlighted in the Form 8-K filing under Item 8.01 Other Events provided by Monogram. The investments made by the executive team and related parties underscore a strong belief in the company’s strategic direction and long-term value creation goals.

CEO of Monogram Orthopaedics, Ben Sexson, expressed confidence in the management team’s stock purchases, stating, “Our senior management team has purchased shares in the open market, reflecting high confidence in our strategy and expectation to create long-term shareholder value.” Sexson also conveyed optimism regarding the company’s advancement prospects following the successful fundraising activities.

Looking ahead, Monogram has outlined several key upcoming milestones to be achieved in the near future. These include scheduling an issue-specific meeting with the FDA by December 2024, focusing on gaining regulatory clearance for clinical trials in India, seeking FDA clearance for the mBôs™ TKA System, expanding domestic and international relationships, and participation in the upcoming Arab Health event in January 2025.

Monogram Orthopaedics (NASDAQ: MGRM) is actively engaged in developing an innovative product solution architecture aimed at facilitating patient-optimized orthopedic implants on a large scale, leveraging technologies such as 3D printing, advanced machine vision, AI, and next-generation robotics. The company’s flagship mBôs precision robotic surgical system is engineered to autonomously perform optimized paths for precise insertion of FDA-cleared mPress press-fit implants, with a focus on delivering well-balanced, better-fitting bone-sparing knee replacements.

The company, which has obtained FDA clearance for mPress implants, has also applied for 510(k) clearance for its robotic products as part of its plans for market introduction. Monogram acknowledges the importance of obtaining necessary regulatory clearances to facilitate the commercialization of its products, further underlining its commitment to enhancing patient outcomes through advanced technological solutions.

In closing, Monogram Orthopaedics reiterates that forward-looking statements contained within its disclosures reflect current management assessments, expectations, and assumptions concerning future events or performances. While the company believes these statements are reasonable, actual results may differ due to various risks and uncertainties inherent in its operations and the industry at large. Monogram emphasizes its dedication to updating and revising forward-looking statements as needed in accordance with regulatory standards.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Monogram Orthopaedics’s 8K filing here.

Monogram Orthopaedics Company Profile

Monogram Orthopaedics, Inc focuses on developing a product solution architecture to enable patient-optimized orthopaedic implants. The company intends to produce and market robotic surgical equipment and related software, orthopedic implants, tissue ablation tools, navigation consumables, and other miscellaneous instrumentation for use in reconstructive joint replacement procedures.