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Transenterix needs a better robot. Someone should phone Todd and suggest that they buy Titan.
Really too bad. Saw SPORT a while back and it was kind of amazing.
We probably could collectively buy the company
Just my opinion, but this is a worse-case scenario. Trying to raise money in the wake of two major supplier disputes and a lawsuit means we are probably headed for a fire sale if the raise fails. If the raise succeeds, it’s going to be $15M in the form of like 100M shares. But the money still won’t fix the fact that R&D is now essentially dead. Shaking my head...what a missed opportunity.
Medtronic is definitely not a suitor for Titan. They just announced last week that they are sourcing the 3D video system for their robot from Storz, which rules out Titan as the manufacturer since SPORT has a proprietary camera (as confirmed in one of the recent PRs)
Nope. Earlier this year, MDT said they’d be in a position to start generating revenue with their robot in Q4. Clearly Titan isn’t there yet, so I really don’t think it’s them.
Unbelievable
Undoubtedly the news about MDT’s impending robot has investors looking for exposure in the robotic surgery space for their portfolio.
ENOS = _____ Natural Orifice Surgery?
Could be....they are going after gynaecology as their first surgical indication...
The case for single port is that it has to both provide a cosmetic benefit to the patient, and it has to provide a superior platform for surgery versus multi port.
Has anyone just what ENOS stands for yet?
We are sitting out SAGES, but there are plenty of docs there who know more than we do about what’s going on.
He’s the CMO at Storz, right? I think that’s great for him, but I don’t think there’s any connection back to Titan.
Also, SAGES is this week. Every time one of these meetings happens, word spreads about Titan.
Yep, raise came way too early. Should’ve let the technicals play out a little longer to drive up the PPS.
CAD or USD?
More accurate proceeds from outstanding warrants here:
https://www.titanmedicalinc.com/wp-content/uploads/2019/01/Titan-Medical-Inc.-Warrants-December-2018.pdf
It’s Friday. Of course all the shorts are covering so they’re not holding the bag over the weekend only to be blindsided by a Monday AM press release.
No. But it’s called Hugo.
I don't think anyone here would want to take $8/share to sell now, which imputes a market cap of only $180M. Our friends at TRXC have a market cap of over half a billion dollars with just a handful of units sold.
It's worth it to ride the wave as we engage in and achieve regulatory approval and early sales. We'll finally see something resembling the return we've long anticipated (though even $30/share is basically a buck pre-split).
Indeed. We now have around $31M in warrants in the money. Come on Randall...pick up the phone and get those all exercised since the dilution is already baked into the PPS.
Thank you. While I’m enthusiastic about the ability of this technology to disrupt the laparoscopic surgery world, I’m watching cautiously to see how the management team executes. I’ve been mostly impressed with the progress made by McNally’s team over the past couple years, though I continue to be annoyed at the way they’ve funded the project. For me, this thing has been highly speculative, and I’m looking forward to reaping the reward this year once we finally get into regulatory approval.
Makes sense..Sachin was at ConMed right before his current gig. Smart guy...knows way more than just marketing.
I suspect that the management team already have options lined up for when they hit some of the big milestones this year. Why buy on the open market when they can exercise options for pennies on the dollar when things heat up?
Also very interesting that some of the SAB members used to receive tons of support from Intuitive and now receive little to none per the OpenPayments database. Why bite the hand that feeds unless you know you’re part of something that will be bigger?
Go check out the Open Payments site and see for yourself....
I love when we see closes like this when you look at them through the pre-split volume lens. Today we saw close to 18M pre-split shares trade, which NEVER happened before this year.
Excited about getting into regulatory approval this year, but watching cautiously since I know they need more funding to get there....
Our new shareholder overlords:
https://ih.advfn.com/p.php?pid=nmona&article=78106483&symbol=TMDI
Thanks SPORT. Fairly depressing that we had a system that can do all those things as of 2013, yet we are still tinkering.
I don’t recall seeing the bead threading, the needle threading, or the knot tying before. I thank anyone who can point to the origin of that video.
If anyone is having doubts about the IP/tech behind SPORT, then you should watch this new video:
https://lifeboat.com/blog/2018/08/the-technological-future-of-surgery-new-surgical-robots-are-about-to-enter-the-operating-theatre
The tech and value in the patents is there as evidenced by who participates on the SAB. Problem is non-existent marketing, third rate partners like Bloom and Northland, and a lack of physical presence for the company. This raise was a fail in my opinion.
With no poison pill and a market cap of $28M, some device company should just come in and buy Titan outright for this amazingly low price. I mean, come on, what does it say about your company when the amount you just raised is the same as your market cap?
Pissed.
SPORT already has a waiting market in Brazil. Women there do not want surgery for cosmetic reasons (think about scars + bikinis). Single port surgery through the belly button solves that problem.
Some of my past due diligence (specifically, a write up by one of Ximedica’s consultant engineers on LinkedIn) painted the picture of a SPORT platform run by more than a dozen control computers. At the time, this struck me as being quite complex and expensive...but what do I know as an investor and not a robotic engineer?
Genova’s comment about streamlining the number of controllers and operating systems fit in nicely with this past find of mine. I’m all for making the system simpler and cheaper. Being a better platform is good. Being a cheaper platform is good. Being a better AND cheaper platform is DISRUPTIVE.
Adding to my earlier message:
In his remarks, Curtis Jensen left the door open for a CE Mark regulatory approval that may not require human trials. He said something to the effect of “We will submit our technical file to the EU with porcine and cadaver trials, and we will have human trials underway for FDA should the EU come back and ask for those.”
Reading between the lines, this means we could possibly see approval and launch in Europe earlier than the US.
Watch the AGM video. It better explains the current timeline for design freeze and regulatory approval. In short, the FDA is requesting confirmatory studies in humans to demonstrate predicate device equivalence. That stretches out the timeline when compared to a regulatory pathway with porcine- and cadaveric-only studies.
Putting aside the coincidence of the like-named CEOs of the two Titan Medicals you mentioned, it surprised me to see a younger-looking, stronger version of our CEO in this recent article about Titan:
https://www.medtechstrategist.com/mts-blog/medtech-history-robotics-2
Perception is everything, and I have to say that this version of David evokes a sense of leadership that his usual look does not.
This does seem like an oversight in the reverse split process, but I don't think it had the effect your concerned about.
If you look at the quotes on the TMXMoney.com for each of the warrant classes, you'll see that the shares outstanding for each of the warrant classes is the pre split number. For example, TMD.WT.I has over 19M units outstanding, when the post split number is supposed to be around 600K.
I don't currently own any warrants, so I'm not interested in bugging The Rock about this. But if you own warrants, it might be worth pinging him via email to get this fixed.
Here’s a new find...a growing list of pre-clinical publications by Team Titan:
https://titanmedicalinc.com/investors/pre-clinical-publications/
Your post is now sticky.
IITF
Perhaps an opportunity for funding was available via Dom’s venture capital buddies in Canada? I’m seriously confused as to the timing of this since the company has the funding to let the PPS run for a while. We probably would’ve seen additional appreciation in the PPS given BTIG’s downgrade of the other guys...
And, never mind my last post...Titan just announced a raise (SMH)