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Roll... they want credit card info. I'll have to do that from home tonight. Does Investor Village offer any additional/useful insights into Titan? I'm not much of an investor overall, most of my assets outside of Titan are IRAs, fund based, managed...
RollGard.
I can't private message you (no iHub paid account).Can you? I would like to reach you outside of iHub, about a couple things... All good!
Holy Crap! He's on a roll this morning! I have to agree again!
Trixie worth $1.5B? The Italian creators of the device tried to sell them for about 6 years, and in all that time they could only move like 1 or 2 systems. The only possible value at the time was an international patent portfolio that offered almost no competitive edge. Trixie bought the whole package and now, a few more years later, has dumped hundreds of millions of investor dollars into marketing and improving this system that still requires waaay too much floor space in any OR room. They do have a couple patents which might interest a big player, like the 3mm end effectors which could conceivably add some minor additional value to someone else's robotic offerings. That is not a $1.5B value, not even with the rest of the company attached. There are so few systems fielded at this point that any potential buyer would be looking at the cost of supporting such a small installed base, and that alone could scare them away.
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“Wait and see when one of these second tier medical device companies buys TRXC for $1.5B just to get in the game”
Seriously? You think someone will pay $1.5 billion for a POS just to get into the game??
Yeah ok
It is with a heavy heart that I must admit I agree with COVID19 on this one... No big player, but an organization that is well enough connected to have been in the imminent deal with Medtronic in order to be:
a) convinced to plunk down $18M,
b) timed perfectly to announce it a day or two after the big MDT announcement, and
c) offered in the exact amount required required to be raised according to the MDT/Titan agreement.
Also, the PR itself states it was "single healthcare-focused institutional investor." MDT, JnJ, et al are not really considered to be institutional investors, and if it was a major player, they either would have said it was (using any of a wide array of possible descriptions) or they would not have said anything at all about who provided the $18M.
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I don’t know who the entity. I feel strongly it isn’t Medtronic...based on how this agreement and milestones are written.
I also don’t think it’s JnJ or Stryker or another big med device company...
MacNally said it was an institutional healthcare investor.....not a med device company....
We will see
Well, one... SpinMaster AC.
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only assclowns thought that
Same to you! And pray for cool weather because I wouldn't want anyone to have to turn on the AC!
Initiating multi-million dollar deals with the biggest med device company on the planet which historically has led to very profitable acquisitions 100% of the time in the past does not sound to me like an act of desperation. Sounds like quite a spin you have to put on it to interpret it that way.
Careful everyone... Yo, SpinMaster AC In da House!
No, there was not. Not since the price turned positive. There is no way to even TRY to spin an increase in PPS to a doom and gloom scenario. Not even our resident AC can do that! (AC = a contiguous part of ClAss Clown!)
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Just wondering. Was there regular posts by a moderator of the current share price. Miss those posts.
Looking forward to Vegas myself! We will have all earned it and then some!
It's almost a shame there isn't a software package like "Microsoft Surgical Robot Interface Suite 3.0 for Windows" available. Even if that's what Verb originally made it sound like they were developing.
To further complicate Titan's situation, they have been farming out their development processes since the beginning, so coordinating multiple organizations providing software development means tracking for regulatory purposes must have been more of a nightmare than it needed to be. THAT is a HUGE part of the value of having the Chapel Hill facility as a central location for all subsequent development, hardware and software alike. The announcement of that facility was really a launch point for the final push to the finish line in a fashion that will allow them to meet regulatory requirements with relative ease. It's things like this that Mr. McNally and crew do deserve recognition for departing from the business model they were left with by the prior management team. (Okay, maybe it is also a good excuse for him to buy a vacation home on the Outer Banks!)
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Yer without software was wrong, I should have noted without the necessary/tested software required. Agree, as improvements are put into SPORT they need to keep up with software upgrades. I appreciate your detailed response and will re-read after work today. I know very little of all, but I was referring to how they had to scramble with the required software needed (hence vendor problems), yet they seem to be testing Sport to death. In my simple layman terms, I figured that they should focus on working with a few SPORTs and have IT software upgrades go along with the knew IT hardware improvements, in a better manner. And thanks for clarifying and I will review, and expectedly buy you a drink some day in Vegas.
pmont, please don't take this the wrong way - I'm not intending this to be a personal attack, but as this area is one my professional strengths, I would like to provide a bit more explanation for anyone who works in a different field and wishes to understand a little more about the nuts and bolts of their investment.
Building SPORT without software? Completely false, and impossible.
The entire system is necessarily driven by software. Without it, they could not have done the old IREP "chicken in a bottle" demonstration way back when. The system does NOTHING without software.
The software development process for a medical device is extremely complex, especially given the class of the device. The greatest challenges start with developing algorithms which provide proper input processing, motion controls, user interface device control. etc. Each has to be developed and integrated with all other modules with flow control mechanisms built in. Every input device, each camera, every actuator... all need to eventually be completely controlled and monitored at all times, but early on, the rudimentary functionality has to exist to build upon. Think about just operating the snake arms. Each arm has dozens of actuators providing multi-axis motion control at each link along the entire physical arm, plus the ability to monitor said position for every segment. Collision detection, grasping functions, all critical elements just to get a rudimentary prototype to be operational for the arms alone.
As the system matures and approaches clinical trials and eventual regulatory approval, the evolution of all code has to be completely documented and tracked. Databases such as Subversion will record every change and every addition or deletion to the code base including what changed, who did it, when, and what considerations were made for impact on other code. Rigorous records are required for regulatory approval and ANY gap has to be identified and fixed. Arduous.
Then we add in failsafe considerations. ANYTHING that goes wrong with the system should be able to be identified and handled in the safest manner possible. Much like the electronic circuitry design needs FMEA (Failure Modes and Effect Analysis), software must also be able to deal with failure of mechanical and electrical components as well as failures of code execution. Many systems employ redundant processors and sometimes even redundant code, often written using a different algorithm for each processing thread to determine the same output by a different method, and ensure agreement before that specific piece of robotic motion is allowed to occur. Triple redundant systems can use a voting scheme, whereby if two of three process threads agree, it shuts out the third thread and lets you complete the case with only one redundant channel. But it won't let you start a new case with only two working!
IEC 62304 is really only an outline to determine compliance; the complexity of the actual implementation can be astounding.
There was never a point in time that they were building SPORT without software; that would be a complete logical fallacy and entirely impossible. I wouldn't expect anyone who isn't involved in this field professionally to have any clue about just how demanding the requirements are, but I can assure you that the software development process will never stop for this product; it has been part of the product since its inception and will remain so for its entire life cycle, whether for fixing bugs, enhancing functionality, supporting new peripheral devices or internal components (component obsolescence happens), or just improving device performance.
And for the software folks out there, let me just say:
printf "Hello world!"
pmontx16 Friday, 07/10/20 09:37:07 AM
Re: 66Mustang post# 109812 0
Post # 109814 of 109827
McNally has not invested in this company - no risk, and he has made bonehead financing deals. He did have control over those decisions.
What about building SPORT without software - how was that good?
Apparently some people have already forgotten the state of the company just before Mr. McNally was brought in. Financial despair, no funding available, investors so desperate we wrote letters to all management and board of directors.
Now, we have cash to keep moving forward for some time, we have a HUGE partner working with us who has a vested interest in seeing that we don't fail, we still have groundbreaking technology with an award-winning Intellectual Property program. I, too, blame Mr. McNally for our current situation which I just noted.
Funny thing is, there is really only ONE THING Mr. McNally cannot control, and that is our share price. The only current negative about this company is the one thing he has no say in.
I know, some will argue that they are not doing enough to support the share price, no PRs, etc. but we also don't know the terms of the full agreement with Medtronic. They might not be allowed to put forth those PRs, at least not without approval from Medtronic's burgeoning multi-level bureaucracy. In which case, in essence, Mr. McNally has traded a temporary lull in share price for all the other benefits noted above (money, oversight, a bright future, etc.)
I'm okay with that trade-off.
HC, I wasn't trying to steal your thunder on this; I apologize if it appears that way. I did think that the overview page made more of an impact with the "63 Investments, 63 Acquisitions" right at the top. I ran into it independently of your post, but I look at the informative posters here as a collaborative effort, and you are definitely a part of that effort.
Some links shared here have a quick, "to the point" message applicable to our situation. Others are links to much lengthier expositories which may take more time to digest (when at work during the day, I usually don't have that luxury) or some are more technical in nature, having more meaning and impact to some that other. For example, the technical articles, patent approvals, etc. are more in my field of expertise than the financial and trading-oriented links, but those certainly have substantial meaning to others on this board. As a like-minded collective, I hope we continue to interpret and share the Reader's Digest versions of such content so all can understand just how bright our financial future should be!
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Post #109028...nobody ever wants to give Ole HC credit...I laugh sometimes as I scratch my head...WHO TF brought the 63 out of 63 piece of info to this board in the first place ? Yep, ME (sigh)
#109028 for all to check as u high five Stang and others. 6/30, you are over a week behind me almost ALL the time
I did include the link with that post so people can check for themselves as well... 63 for 63 so far!
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everyone, after the medtronic deal this is easy money in the end,just look at medtronics previous deals like this that end up in huge buyouts 100% of the time,they want sp sport to compete with davinci,period.i think mcnally and crew are keeping this quiet on purpose as if they announced whats really going on , all the jonny come latelys will jump on board for a free ride.again that post the other day that showed when medtronic invests in a company they end up buying it 100% of the time.i myself am holding till buyout anyway.god bless and good luck
Crap! I can't find the "Like" button for this!
At least they now admit that having COVID is classified as cause of death even if you actually die from cancer or heart attack or car crash.
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Increased testing finds increased (largely asymptomatic) cases, but has not driven an associated increase in hospitalizations or deaths. It’s a media-induced panic for the purpose of swaying the election.
Well, you can mark me in the other column on this one. It appears to me that the day to day IS the message, or big part of it, and the point is most likely that today, tomorrow, or any other day could be the breakout day we are all waiting for - at least that is my main takeaway on the dailies. I don't consider them a distraction at all. Meanwhile he provides a nice overall perspective on how the market tends to operate, complete with examples from comparable companies which are or have been in similar situations. I'm always a fan of learning from history. History is the best teacher we have, which might be why so many in this country want to eliminate our history - they can't handle the truth (I've heard that somewhere before as well!).
Anyway, my thanks to Roll, HC, Shorts'R'Clowns, and all other valid contributors who seek to share information and promote the well-being of our collective investment.
Now, for today's Alternate Theory... Just a supposition I've had in the back of my mind, a big What If which could help explain our WTF situation if it turned out to be true.
What if... This is all really a Done Deal? Maybe While Mr. Zaring was still around, all the dots had been connected, the entire script was written including the final act with a pre-determined big number at the end... Maybe 6 people between the two organizations already know what the ultimate buyout price is going to be, and PPS in the meantime doesn't mean a thing... Just maybe. If nothing else, it might serve as an explanation as to why they don't seem to care at all about PPS in the meantime. Those six people (maybe four, maybe 14 people, who knows) may have already reached an agreement. $3B? $13B? $33B?? Milestones are still requirements but they have to be reasonable. Maybe all they care about is knocking down the milestones on schedule, and if PPS goes into the dumper, it doesn't affect the end result, so why waste time and effort supporting a meaningless PPS?
Would love to hear people's thoughts on that...
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I'm with HC on this one. I find a lot of what Rolls adds to this board as some solid DD with some well thought out speculation.
That being said the day to day stock predictions or guesses on when news will hit is a bit 'distracting' from his message at times. Again, nothing against Rolls b/c I do appreciate his commentary as a whole.
We are all hoping for the same outcome but until this news vacuum ends we are in a stall and that is putting nicely.
I sooo miss Rodney Dangerfield!
I can only imagine what either he or Kinison would be saying about the state of our country right now. Would love to hear it if they were still around.
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"Good answer. Good answer. I like the way you think. I'm gonna be watching you."
Moodys, you can only get burned if you sell. Every dip in PPS feels like a burn now but eventually the heat should only be applied to our 12 oz filet.
I stand by my claim that "Excruciating patience" is required for this investment. It is misery to think too much about the dips but worse for those who succumb to the misery by selling for a loss, and even worse yet to come when those sellers whish they still had all their shares.
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66,
That was a great summation of what went down. I am just so gun shy of this stock. Been burned more times than I can count.
just hoping for the best at this point.
I believed in this stock back in 2011, Been kicking me in the teeth ever since.
Very true! MDT's closure on Digital Surgery could have been a gating item to kick off their Titan relationship - or maybe part of their plan all along! Keep both organizations and technologies out of the hands of competitors.
It was back in November, 8 months ago, that they pulled the public offering off the table. They have successfully achieved all publicly declared attempts at raising funds since then including one more round with Aspire. In January they kicked off their SWAT team to secure their future including M&A options. In April, they announced a secured loan with a "leading global medical technology company." Of course we now know who that is, based on some of Medtronic's SEC filings. So we don't know how long in advance that had been in the works, but that "loan" was as close as we could get to a Letter of Intention at that time, but without the rest of the legal reviews, internal approvals, etc. it was probably still too premature to publicize the "who" at that time. My guess is that the relationship between these two companies is approaching it's 6 month anniversary already. I would surmise that the announced resumption of development activities (late April) was somewhat under the direction or influence of Medtronic. The whole thing may have kicked off in earnest back in January with the ISO 13485 certification, showing Medtronic that Titan was a valid, viable organization, ready to conduct business in the medical device realm, so why not see what they can offer to Medtronic's ever-delayed general robotic surgery program? That's sort of how I piece the history together with my best guess at a feasible storyline.
The Mazor deal was executed on a 30 month timeline. We may be as far as 6 months into this relationship already, so I'm sticking with my guess of 18 to 24 months to go until we get a better detailed timeline from Titan. The Mazor deal also included the need to incorporate a sales force and existing customer base into the Medtronic organization. Titan has no such additional overhead tasks for them to deal with; they can be a Medtronic device right out of the gate if they want, which might mean they need to complete the acquisition in advance of FDA approval. Hence my guesstimate going as early as 18 months to launch!
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66,
So if we have been in bed with MDT this whole time. Why did TMDI try the desperation offering with no takers after we pulled all of our timelines?
That makes me skeptical about how good our relationship is with them. If they were already in with TMDI at that point, why did they not buy up that raise or something else and let it fail. Or was it on purpose. All a little weird. That leaves me wondering then who bought up this past raise....
But then again, as always with the digging around with this board. Connecting the dots has gotten me excited.
Lately it has gotten really good with the only summation that we are BO target for MDT at some point. Its like connecting the dots in National Treasure.... hopefully we do not go BK like Nick Cage and have to resort to doing a show about Joe Exotic.
Doing a little digging on my own regarding the Mazor/Medtronic deal. Just some notes for anyone's consideration:
Their agreement's Phase 2 was a three-part deal; first tranche was fixed at $12M for 4% stake in Mazor. Second and third tranches were based on 20-day average share price, with milestone requirements; 2nd tranche for 6% stake in Mazor and third tranche for another 5%, and Mazor could cap each tranche at $20M if they wanted to. Share prices were about $10.60 at the time (May 2016).
Second tranche milestones met in August 2016; share prices were up to almost $22, and Mazor exercised the cap at $20M so Medtronic only got 3.4% stake in that piece.
A year later (Aug 2017), the next part went down for $40M more, with share prices in the low $40's, giving Medtronic another 3.33% stake (10.6% total at that point). New terms were agreed upon including movement of Mazor sales team to "under the Medtronic umbrella."
Final buyout announced Sept 2018 (closed in Dec 2018) for $58.50 per share.
So Medtronic apparently likes this phased approach with milestones. The Mazor deal was orchestrated by the President of their Restorative Therapies group - coincidentally (or not!) Geoff Martha!
Now for some differences...
Our deal has milestones tied to fixed amount cash awards, not based on our feeble stock price like with Mazor. If this was Mr. McNally's idea, I'd say it was a very good one, with Medtronic willing to stray from their previous acquisition model (presumably because they too know how ludicrously low our share price is vs. Titan's realistic value). Maybe that was also a consideration for first tranche with Mazor when their share price was relatively low (not nearly as bad as ours st the moment). It would appear that Mr. McNally doesn't want to based milestone payments on our stock price, which appears to have been subject to manipulation in various forms in the past and could still be artificially suppressed as our milestones are completed.
Mazor did have an approved product on the market and the closure of their deal coincided with an announcement of FDA approval for their co-developed project. I'm thinking that because Titan isn't there yet, the closure of the deal may also be tied to regulatory approval. This is part of why from my 10,000 foot view without binoculars and no formally published milestone/development schedule made public, I'm guessing 18 to 24 months for us - also based in part by my supposition that these two parties have actually been working together already for a while before the initial announcement. I look forward to refining my guess when more information becomes available.
Can we find the equivalent agreement for the Medtronic/Mazor deal? I'd love to see how they compare.
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https://www.sec.gov/Archives/edgar/data/840551/000115752320000866/a52230799ex99_4.htm
Nice Find, HC! Thanks for sharing this!
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Man - one day I would like Andre to come out with info like this....nah, he's too lazy !
https://worldwide.espacenet.com/searchResults?ST=singleline&locale=en_EP&submitted=true&DB=&query=Titan+medical
(Top 3 are 7/2/20)
IF it turns out that Medtronic did not fill that $18 million raise, it tells me that Titan is probably playing two sides against each other. Medtronic made a milestone out of raising $18M and it was fait accomplis the day after the announcement. Not just coincidence. Titan and MDT both obviously knew about the deal before the announcement. If it wasn't MDT or one of their affiliates filling that raise, it means to me that Titan had arranged the financing in advance, possibly with a MDT competitor to provide more leverage when buyout talks come to a head.
Honestly, I doubt that happened, and I assume Mr. McNally is playing in good faith with MDT and vice versa. But to honor your supposition below, I would say that what it tells me (if it wasn't MDT's $18M) is that we quite possibly will have a "sky's the limit" bidding war in our future! I'm not holding my breath for that. But it might be kinda cool for shareholders!
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SPORT19 Monday, 07/06/20 11:46:33 AM
Re: 66Mustang post# 109439 0
Post # 109443 of 109444
Good post..
If it turns out that Medtronic did not fill that $18 million raise what does that tell you?
TIA
Lest anyone believes a buyout is "imminent", a quick history review might give us all a better idea of what "imminent" might really mean when it comes to being a Medtronic acquisition. Note first, Medtronic took their initial position with Mazor in May 2016, and didn't close the deal for another 30 months. In doing so, they announced the FDA approval of their co-developed project with them. Given the advanced development status of the Titan platform, Medtronic may only feel the need to provide input on a few items such as software integration with their new Digital Surgery acquisition. They just need to provide enough input to ensure they can validly call it "jointly-developed." The completion, plus another 6 months for FDA Fasttrack approval, would put acquisition in an 18 to 24 month timeframe, assuming they follow the same acquisition model as with Mazor. Maybe Mr. Martha's stated focus on M&A as his eventual legacy, plus his recent comments about robotic surgery being Medtronic's largest project ever, might mean he intended to accelerate that schedule slightly if possible.
Before the election? I'm not betting on it; almost nobody could pull in a schedule that far, even with all the financial resources of Medtronic behind the effort. Not to mention FDA approval alone would take at least from now until the election or longer. I'm just going to vote in a manner that will try to prevent my eventual profits from getting slashed out by some new aggressive taxation plan.
From https://www.therobotreport.com/medtronic-17b-mazor-robotics/
December 2018
"Medtronic has closed the $1.7 billion acquisition of Mazor Robotics and its robot-assisted surgery platform. Medtronic capped the buyout with the announcement that its first jointly produced product won an FDA nod.
Last month Caesarea, Israel-based Mazor said its shareholders voted to approve the $58.50-per-ADR-share deal with the world’s largest medical device maker, which has held a position in Mazor since May 2016. The company makes the Mazor X guidance system and the Renaissance robot-assisted spine surgery device. In September they closed the third, $40 million tranche of that investment, giving Medtronic a 10.6% stake for $72 million.
Medtronic, which has said it plans to develop a fully-integrated surgical planning, execution and confirmation system by uniting its existing spine technologies with the Mazor robotic system, also revealed 510(k) clearance from the FDA for the Mazor X Stealth device it co-developed with its latest acquisition. Mazor X Stealth integrates Medtronic’s StealthStation software into the Mazor X device, the company said."
With all that being said, I do not want this post to be interpreted as a negative by any means. From a Project Management perspective, this is now being overseen and orchestrated by a world-class medical device company who understands the value of time in such a potentially explosive market. They WILL push this; they WILL see it through to completion; and we WILL see the results we are hoping for. Meanwhile, my new favorite phrase "excruciating patience" remains applicable!
That sounds like money to me too! Which hardly explains our current PPS. Hopefully PPS will become relatively irrelevant!
And yes, many of our patents are potentially applicable to the next gen Super-Hugo (which hopefully won't be Super-Huge!). Snake arms, multi-camera deployment, lens wash system... all good stuff with vast potential in this market space.
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I am far from knowledgeable on what I am about to say but my assumption is that using TMDI's IP, MDT can help make HUGO a state of the art multi port robotic platform. Imagine having a state of the art single and multi port robotic arsenal to take on ISRG. That sounds like money!
I've always thought so, but I sure don't expect a Covidian-sized buyout! I'd take it and run, but I don't expect it!
When Mr. Martha said robotics is their largest project, was he talking expenditures?? I guess the Covidian acquisition could have been considered a project! Wouldn't that be something???
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Nice breakdown. FWIW I’ll add medtronic would never enter a market where they could only hope to take 5%-10% market share. They are the largest pure play med tech company in the world. Geoff Martha said a couple weeks ago that their robotic project was the largest project they have ever taken on.
So it’s a big deal. a really BIG deal.
The day Medtronic launches a surgical robot to the market will be an awesome day to own Medtronic stock! Unless they try to launch Hugo before Enos... But it sounds like Hugo is still 2-3 years away from prime time.
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ha. Yeah, the stock makes a lot of sense from a tax perspective as well as capturing what will be a rise in MDT's stock over time as the single port robot drives revenues higher.
So with 120M shares fully diluted, about $11B. That would work for me! I like the way you think... and it has HC's built-in preference for Medtronic stock instead of cash!
I had wondered briefly as well if Medtronic wanted to get us on the cheap, in "as-is condition" to minimize their $$$ output. But I figured they don't want to lose Titan' knowledge base with this product until it is readied for approval, and yes, Mr. McNally surely has some target figure in mind; he knows better than any of us what it is worth and won't give it away too cheap. He's played this game before and did fairy well.
I see you also like the Edit function to conserve your 15 posts per day! I use it all the time.
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Lets just do a 1 for 1 stock BO and call it a day:) MDT at about $93/share.
I still wonder if MDT tried to buy TMDI cheap and MC said hell no, knowing what he had, and the 2 parties came to this agreement so that MDT could get comfortable, as significant milestones were completed, with a bigger BO down the road that TMDI was seeking.
Hypothetically... or maybe hyper-pathetically, but I'll take a stab at this for fun...
How do we compare? $4B in 2007 for Kyphoplasties. 25,000 procedures done per year, with relatively low profitability because the vast majority of kyphos are performed on elderly "crushed vertebrae" patients on Medicare, so low reimbursement rates hinder profitability substantially.
ISRG did over 1.2M robotic procedures last year. Let's say we are projected, over a few years, to capture just 5% of that market (ignoring the fact that the market is expanding fairly rapidly anyway), that would be over 60K procedures/year. If profitability per case was only comparable on average, we should logically have been valued at about $9B in 2007 dollars. Inflation calculator says $1 in 2007 is worth about $1.25 today. That should make Titan worth over $12B by the time a buyout occurs (18-24 months?) if robotic surgery reimbursements are no better than the Medicare-dominated reimbursements for Kyphoplasties.
What if we were to capture 10% of that market? Double? $24B? I would be very okay with that, too. Robotics market still expanding, numbers even higher... I won't bother to type them because then it would just look foolish and/or greedy. Even these numbers are starting to sound more like a pipe dream anyway, and I don't smoke.
I know it's hard to do an apples to apples comparison when we are planting orange trees and hoping they will grow! But it could provide a reasonable frame of reference as to what Medtronic should be willing to part with. And it's a fun exercise to imagine the possibilities!
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It was about 4 Billion . It was in 2007
Mongo, what are they? Who is the source? Is this just interaction between market makers, buying and selling from each other in a coordinated effort to keep price down?
I am not a knowledgeable investor in regard to how these things work.
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Those 100-share trades are not retail.
Roll, what exactly are these buy programs for? Are they just trying to keep an adequate supply for market makers? And is there any way to tell how long it could last?
Separate topic: My only issue with folks here selling small quantities is that yesterday after the big volume quieted down, there were tons of small trades, 100 shares or lower, each bringing the price down incrementally. By not making those cheaper shares so readily available, we possibly could have retained a little more of the value from yesterday's peak. Maybe a penny or two. Maybe .0025. Maybe less. But every day, day after day, this adds up. And it continues to help out the folks who are shorting this stock in a much bigger way (of course, to comply with iHub rules, I am referring only to shorters who do not post on this message board! We are not allowed to talk about those who do.)
I thought I pasted the link...
https://titanmedicalinc.com/technology/
Videos on the second half of the page to refresh memories of long termers and provide new insight to the newcomers! These were 2 and 3 years ago so much refinement since!
I don't think the virus will impact clinical trials. My wife's OR is back to full speed plus; they are making up for a couple months of limiting cases to emergency/critical stuff. Call team usually does 2 or three cases on a typical weekend but they did 11 cases on Saturday alone.
Clinical trials on live human patients are cases that would be done normally anyway with a bunch of additional sign-offs, of course! I assume they still plan to lead with Hysterectomies unless the new boss MDT has other plans. From earlier feedback from the three COEs a couple years ago, these and prostates were a slam dunk.
Review the videos on this page (not the first two "skills training" videos, and below the pictures) and where we were before two years of additional development and refinement. With our new overlords, we will definitely be ready when the time comes.
It filled in pre-market, 2350 shares at $0.85 in 6 different chunks.That means price should tank into the mid- to low-70's today; I'd love it if it proved me wrong for a change but I have a long history of this price behavior with every purchase I've made.
Should be a big jump today right out of the gate. My wife suggested I moved more funds from savings to my trading account last night, an opportunity I would never resist! Of course, that means big jump in PPS before I can fill my order. It always jumps merely because I plan to buy, then it slips afterward. This stock is one cruel Be-atch!
Cool patent! Like a 3D mouse interface! Or a digital Theramin with an extra axis!
Does that make 50 approved patents now? Nice milestone, PR worthy if you ask me...
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New patent. Sorry Sport19 ;-(
http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&co1=AND&d=PTXT&s1=%22titan+medical%22.AANM.&OS=AANM/%22titan+medical%22&RS=AANM/%22titan+medical%22
Since you asked... I'll handle a few of your questions.
The next newsworthy event? So much to choose from. Announcing revised development milestones with a schedule that meets or exceeds Medtronic's requirements, maybe another board member (who, with a little digging, we will find also has ties to Medtronic), maybe another award for their IP program, maybe re-initiating contact with the FDA or getting their IDE approved (that's probably a few months away as I think Medtronic wants some changes to meet their marketing requests, hence the direct development oversight). Could be anything. As for your suggestions... another worthless patent? The value of this company lies in its best in North America patent portfolio. Announcing a buyout by Medtronic, you say? The road map is published and it is quite clear. Milestones first.
How about a reverse split? Ludicrous. Fear mongering at its worst. No rational reason to consider the possibility of a reverse split. A couple years ago, in order to uplist to NASDAQ, it was mandatory, and they had a reason. Now they don't; the supposition is entirely foolish because nothing in their current situation could be considered logical rationale for a reverse split.
And, I'll happily remind you that all warrants are also adjusted by the same ration as a reverse split, so it doesn't help them get "in the money" at all; it would only serve to scare investors, dropping the post-split price further. So they have no incentive of any kind to consider a reverse split, and plenty of valid reasons to NOT do it.
Maybe you should have truncated your first sentence at "What is the next newsworthy event?" Maybe someone would give you a serious reply. The remainder of your message serves only as a feeble attempt to generate fear in this public forum, with no factual basis for any of your suppositions.
To quote some of my like-minded friends here: "M-O-O-N!"
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tootalljones Tuesday, 06/30/20 10:48:15 AM
Re: None 0
Post # of 109007
What is the next newsworthy event now that BK is off the table for a while? ...Is it the annoucement of a Deisgn Freeze in 4 months? O that is right, McNally already tried that one to pump up the price. do you think he can try it again and hope nobody remembers?
How about another worthless patent? .....Maybe it is me but somehow I think that the guys who already own this market and are making a billion a year can afford to develop patents better than tmdi.
Maybe they can do a fundraiser at Dave the Dude's nightclub?
Maybe they can announce they are being bought out by MDT? All the books on stocks say the number one reason to buy a stock is that it will be bought out some day, and this is why you should buy it.
How about a Reverse Split? .....Nobody is gonna buy a 80 cent stock so here is what you do, there is this rule that lets crapy companies pretend they are big companies by reverse splitting a stock, a real con job.
If they Reverse Split (they know how to do this already), they can do a 1 for 20, they can pump this stock up to 16 bucks, and in this way, a ton of funds will fall for it. Warren Buffett is really good with airlines, so you know he will just plow into it.....TMDI management are kicking this idea around at this very moment no doubt, and they can all just reprice all their stuff so they get free money somehow by monkeying with the stock price........This is really why you should buy a company's stock price, not because it is guaranteed to be bought out soon. You figure out which group of managers can artificially monkey around with the share price, and get warrants into the money....I always put my money with the best tricksters. It is all about the stock price. somehow maneuvering to get it up there somehow. Maybe they should devote a bunch of new employees into cold calling too?
***Repost with minor modifications: Admin said we can't talk about other people or groups of people who post on the board. So if I am referring people who short the stock, I will be clear here: I am referring to the ones who don't post on this board.***
I initially shared that same concern. But as I kept re-reading the PR, I could not come up with any logical reason for Medtronic to be making payments based upon completion of development milestones which are to be overseen by Medtronic and Titan together.
If they merely wanted to raid the technology, that's basically already done; they just need to write the last couple checks. They instead want oversight into the development process and achievement of certain goals. If Medtronic just wanted rights to the technology, well, they have it. The license NOW means they can try to incorporate some of Titan's technology into their own multi-port design as well as oversee the creation a single port platform of their own, and the exclusivity of the license means Titan can't go out and license it to anybody else as well. Don't you think ISRG would also love a camera wash system, two-camera deployment, and snake arms that don't need to cross over each other inside the patient? There is still huge value in our patent portfolio, and Medtronic has basically locked it in for themselves.
Why would Medtronic want to guide and provide oversight into the additional development process if it was only for Titan to go it alone and compete with Medtronic? Helping Titan would be like Medtronic shooting themselves in the foot by helping their eventual competitor. The oversight is to ensure the development process creates an end product which is to Medtronic's liking and meets their marketing objectives, taking a pre-determined place in their product lineup.
Other than maybe shorters (the ones who don't post here) and other folks spreading fear-mongering conspiracy theories which actually don't hold up to further scrutiny (when the PR states fairly clearly that something else is happening), I cannot explain the ridiculously low PPS at the moment. There appeared to be some sort of PPS suppression going on at the time of the MDT announcement in order for the closing to occur within the allotted percentage of PPS, but beyond that... As FlyBabyFly pointed out, the interest rate on borrowed shares is absurdly high, indicating the popularity of this stock for shorting - and the apparent continued profitability because someone is willing to pay it.
Medtronic's oversight of Titan's development process can only be explained by the idea that Titan is developing it from here forward FOR Medtronic, otherwise Medtronic would not expend the resources to monitor the development process, the Board Meetings, etc. to help develop the competition. This is a done deal except the passage of time to achieve the milestones, and an eventual announcement.
As for why the buyout wasn't effective immediately, I can only conjecture, again based on logical inference and decades of medical device development experience, that it would be foolish for Medtronic to start from scratch on developing this single port platform when Titan already has intimate knowledge of it. They are a resource for Medtronic's development program. Another way to view it is that Titan is basically being kept whole for now as a develop contractor for Medtronic because of their knowledge and experience with this technology. It's a big time saver for MDT, saving them valuable months or even years if they tried to take over this program themselves. They want to get this, heck, ANYTHING, to market as soon as possible, and their Hugo program showed that product development isn't really their strong suit in this realm. Mr. Martha apparently knows this, and that is likely why he has announced the plans to go heavy on acquisitions.
It's just a waiting game; I try to ignore the games being played with the stock (which is very difficult to do) because I know eventually it will break free. I have repeatedly used the phrase "Excruciating Patience" when discussing Titan. Meanwhile, a nice PR here and there about development status, revised timelines, etc. would go a long way to support shareholder morale, especially if it also helped PPS.
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Closed at .805
Down another 5%
Has Medtronic commented on this deal with Titan? No
Go back and read the PR. I’ll post it for you...you can see why this is falling back....they wouldn’t need a license if they were buying the company.....
Titan Medical Announces Development and License Agreements With Medtronic and Senior Secured Loan
June 4, 2020, 7:30 AM EDT
TORONTO--(BUSINESS WIRE)--Titan Medical Inc. (“Titan” or “Titan Medical”) (TSX: TMD) (Nasdaq: TMDI), a medical device company focused on the design and development of single-port robotic surgical technologies, announces that it has entered into a development and license agreement with Medtronic plc (“Medtronic”) (NYSE: MDT) to further the development of robotic assisted surgical technologies, as well as a separate license agreement with Medtronic in respect of certain intellectual property of Titan.
The development and license agreement provides for the development of robotic assisted surgical technologies for use by both Titan and Medtronic in their respective businesses. Titan will receive a series of payments totaling up to U.S. $31 million for Medtronic’s license to such technologies, as technology milestones are completed and verified. A steering committee comprised of representatives from Titan and Medtronic will be established to provide oversight regarding the work toward achievement of the milestones.
Thanks! I did request a review. Wouldn't mind seeing it back up where it belongs. Maybe it was too rational? Too logical? Who knows...
Sometimes when someone reaches out with an olive branch, the other party sets it on fire.
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I was able to read your post before it was deleted, and it was excellent! There was no reason whatsoever for it to be deleted, no violations.
TMDI