Vicarious Surgical (OTCQB:RBOT), a surgical robotics developer, is shutting down after investors voted to liquidate the company immediately.[reference:24][reference:25] The board unanimously proposed the closure, saying it could not predict whether there would be anything left to repay investors.[reference:26]
CEO Stephen From confirmed the news, noting that he lost his job along with other remaining employees.[reference:27] From said he was in talks with a potential buyer in recent days, but instead, medical device OEMs have signed nondisclosure agreements to access the company's data room while assets are auctioned off.[reference:28]
The company had been struggling financially for years, with recurring operating losses and negative cash flows.[reference:29] As of March 31, Vicarious reported nearly 9 million in total liabilities and 7.3 million in the first quarter of 2026, following a 63 million loss in 2024.[reference:32]
Vicarious Surgical had been developing a single-port robotic system for abdominal procedures.[reference:33] The company faced intense competition in the U.S. surgical robotics market, along with an NYSE delisting, staff turnover, and dwindling cash reserves.[reference:34] As of March 9, the company had 26 employees.[reference:35]
The board will select an assignee to liquidate the soft-tissue robotics developer's assets to settle outstanding obligations.[reference:36] The company's CFO, Sarah Romano, had already tendered her resignation to take the same role at SS Innovations.[reference:37]
Vicarious Surgical's shutdown marks a significant failure in the surgical robotics space, highlighting the challenges of commercializing complex medical devices in a competitive market. The company's assets are now being auctioned off, with medical device OEMs showing interest in its technology.