PROCEPT BioRobotics Corp (PRCT): Entry into a Material Definitive Agreement

Procept BioRobotics reported Q2 2026 revenue up 19% year over year to $94.5 million, citing HYDROS system demand and record ASPs, while U.S. procedures grew 21% but missed expectations due to softness in legacy AQUABEAM accounts. Full-year 2026 revenue guidance remains $390 million to $410 million; U.S. procedures guidance lowered to 54,000–56,000. Management expects positive adjusted EBITDA in Q4 2026 and ongoing HYDROS replacement cycle through 2027.

The acquisition transforms Processa's pipeline with the addition of clinical-stage BTK inhibitor VT-7208, while a concurrent $200 million private placement is expected to fund development into 2029. Key Investor Takeaways Processa Pharmaceuticals (NASDAQ:PRCT) acquired Vidya Therapeutics, adding clinical-stage BTK inhibitor VT-7208 to its pipeline. The company simultaneously secured a private placement expected to raise approximately $200 million to fund multiple Phase 2 clinical programs.

PROCEPT BioRobotics (NASDAQ:PRCT) reported progress in its WATER IV prostate cancer program: enrollment completed for WATER IV RP (280 patients; Aquablation vs radical prostatectomy) with primary results expected at the AUA meeting in spring 2027, and FDA IDE approval for WATER IV AS (up to 333 patients; Aquablation vs active surveillance). Evercore ISI initiated coverage with an “Outperform” rating and $30 price target.

Rubrik officer Bipul Sinha plans to sell 500,000 Class A shares, valued at $56.9M, through a prepaid forward contract with Goldman Sachs. The entity may choose cash settlement under certain conditions. Rubrik has 167.4M shares outstanding.

Rio Tinto Logistics, a subsidiary of Rio Tinto PLC (RIO), secured a $995M contract for high-purity aluminum, spanning five years. RIO has a 4.99% dividend yield, a 62% payout ratio, and a GF Score of 76. The stock is deemed modestly overvalued, with a GF Value of $74.59 vs. $94.56 current price. Institutional interest is mixed, with some trimming and others adding positions.

Circle Internet Group's CFO, Jeremy Fox-Geen, announced his departure, causing the stock to drop 2.3% in extended trading to $86.94. Fox-Geen will stay until December 2026 to assist in the transition. The company is working with an executive search firm to find a successor. Shares had already declined during regular trading due to a lack of near-term catalysts. Circle, which went public in June 2025, is the issuer of the USDC stablecoin and recently partnered with Binance.