New York, June 1, 2026, 11:02 EDT
- Mobia Medical shares dropped about 2% to $12.84. The stock is still trading under its $15 IPO price.
- The new medtech stock is pitching Vivistim to investors. The device is FDA-approved for stroke rehab.
- Losses and the cost to create a market for the device are still the main overhang.
Mobia Medical shares traded lower on Monday morning, as the stroke-recovery device maker stayed under its IPO price less than a month after listing on the Nasdaq. The stock last traded at $12.84, off 26 cents from Friday’s close. It moved between $12.71 and $13.32 earlier in the session.
Mobia is in its first run as a public company. The IPO put 10 million shares on sale at $15 apiece and aimed to bring in roughly $150 million before fees and other costs.
The company started trading on the Nasdaq Global Select Market with the ticker MOBI on May 8. Nasdaq’s calendar for 2026 shows the exchange closes for Memorial Day on May 25 and Juneteenth on June 19, so Monday will be a normal U.S. trading day.
Mobia is pitching itself as a commercial-stage medical device company focused on Vivistim, a system pairing vagus nerve stimulation with rehab therapy. The treatment uses controlled electrical pulses sent to the vagus nerve, which runs from the brainstem into the body, while patients do therapy.
The U.S. Food and Drug Administration cleared the MicroTransponder Vivistim Paired VNS System for rehab in chronic ischemic stroke patients with moderate to severe arm impairment. The device is aimed at cutting upper-extremity motor deficits and boosting motor function. The company, now called Mobia, was previously MicroTransponder.
Mobia CEO Richard Foust told MedTech Dive after the IPO that the company is looking at what he called a “really large unmet market,” pointing to U.S. stroke survivors who are looking for options. He said Mobia wants clinicians to see Vivistim as a “frontline therapy” for chronic stroke survivors who could be screened. MedTech Dive
Mobia’s final prospectus puts its first-quarter revenue at $11.9 million to $12.1 million, up from $5.7 million a year ago. But the company also forecasts a bigger net loss for common shareholders—$17.7 million to $18.1 million, compared with $10.7 million last year.
Vivistim sales are climbing, but the stock faces pressure from rising operating costs, the prospectus said. Spending is up on hiring, commissions, professional fees, marketing and the post-market study.
Competitive comparisons are messy here. LivaNova’s VNS Therapy is aimed at drug-resistant epilepsy, Medtronic pushes neurostimulation for chronic pain, and Mobia’s pitch to the public markets leans mostly on stroke rehab with Vivistim and how fast hospitals, therapists and payors decide to adopt it.
The risk is that adoption might not grow quickly enough to pay for expansion. Mobia’s prospectus said the company has posted net losses in the past, expects more losses ahead, and raised substantial doubt about its ability to keep going. That kind of warning means Mobia may need to raise more capital or boost cash to stay open.
The share price is still sending a plain signal. Investors haven’t dismissed the device, but want evidence that a promising treatment can turn into a lasting public business.
