Mobia Medical

MOBI

Market cap $454M

AUSTIN, Texas, July 02, 2026 (GLOBE NEWSWIRE) -- Mobia Medical, Inc. (Nasdaq: MOBI), a commercial-stage medical device company redefining stroke recovery for survivors living with life-altering motor impairments, today announced that the Centers for Medicare and Medicaid Services (CMS) has proposed to maintain CPT® Code 64568, the procedure code used for the Vivistim® procedure, under the New Technology Ambulatory Payment Classification (APC) 1580 for calendar year (CY) 2027, with an associated hospital outpatient payment rate of approximately $45,000, unchanged from the CY 2026 rate. CMS is expected to publish the final Hospital Outpatient Prospective Payment System (OPPS) rule in November of this year, with any changes taking effect January 1, 2027.

The U.S. IPO market maintained its strong momentum in May with 12 offerings raising $13.1 billion in total proceeds, which was well above April's $8.2 billion in total proceeds but one short on deal count. The largest deal of the month was technology firm Cerebras Systems' $6.4 billion raise, making it the largest IPO since Medline Inc.'s $7.2 billion raise in December 2025 and the biggest tech IPO since Uber Technologies' $8.1 billion in May 2019. The healthcare sector saw three new issuers, led by GMR Solutions' $478.7 million offering.

Mobia Medical (NASDAQ:MOBI) was initiated with a ‘Buy' rating and a $16 price target by Bank of America, which cited the company's growth potential in stroke recovery treatment and a large addressable market for its Vivistim system. Mobia's Vivistim therapy combines rehabilitation exercises with a vagus nerve stimulation (VNS) device designed to help chronic stroke survivors improve upper-limb function.

Mobia Medical went public, with shares dropping over 20% on debut, reflecting investor caution over mounting losses despite strong sales growth. Mobia Medical's Vivistim Paired VNS system targets a large stroke recovery market, with revenues doubling to $32M in 2025 but operating losses also nearly doubling. Despite robust top line momentum and a ~$200M net cash position, persistent lack of operating leverage and high per-patient costs raise concerns.