Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I'm not ruling it (a raise) out completely, but I believe they are trying other options first. Mr. McNally and Mr. Randall have both repeatedly indicated that they are going to do their best to minimize further dilution. But they still need to keep the doors open, so I can't rule it out yet. However, I believe they are in a much better and stronger position now for negotiating non-dilutive options.
I'm not attacking anyone. I'm asking people to vouch for their honesty with actual data. People who are negative shouldn't hold shares right now, and people who are positive should be holding.
Most of us are down overall, myself included, but if I didn't believe we are on the right track, I'd be gone already.
How are they going to fund this? Well, for starters...
https://titanmedicalinc.com/titan-medical-to-participate-at-upcoming-investment-conferences/
They now have more to offer than the last round of conferences and meetings last year. They now have high-confidence finalized hardware design. They have positive feedback at every step. They have a very recent precedent of Auris being bought for enough money to make everyone here at least some profit, while we have a product with far superior capabilities.
I apologize if my post was interpreted as an attack; that certainly wasn't the intent. But on the other hand, those who feel it was an attack just might be among the folks who aren't really being truthful on this board about their feelings toward Titan.
Message in reply to:
Tell us exactly how they are going to fund this?
That would be helpful as opposed to your attacks on shareholders who have suffered massive losses at TMDI!
Once again, the negativity being expressed about this stock probably doesn't match reality. I don't know why, but I think the sentiment on display is somehow false. The truth lies in your portfolio.
For those of you who believe we are going to tank the PPS with an imminent raise, why are you not selling all your shares now to buy back in cheap after the raise? If you are still holding shares right now but are SOOOO sure this thing is going down, that is, by definition, hypocritical.
I own 31000 shares. I'm not selling. I'd buy more if I had the funds.
Anyone else out there have the balls to tell their true position right now?
I think you just want a raise so you can get back in on the cheap. Obviously would not be good for any other shareholder unless they have the funds handy to average down further.
I don't think buyout is imminent, but if it happens, keep in mind Auris went for $5.75B with milestones when the first offer was only $1.7B. It would be interesting to know if Auris told them to take a hike with their insulting first offer, or if there was a behind-the-scenes bidding war with another organization. The final tally was more than triple the initial offer.
Message in reply to:
Who’s predicting Buyout PPS???
We need the late-day push to break a million shares and close north of $4.50!
BigT, any idea why it's been such a wild ride so far today? Huge volume, huge swings...
If they were giving them away, one would think they would be able to move more systems. That must really say something about the system!
Message in reply to:
Trixie has a $600M market cap and that is with them giving away product. A $600M market cap for Titan is $26/share currently.
Mostly automatically generated stats with a little customized overview, but the overview looks somewhat promising:
https://www.kymanews.com/2019/02/19/a-lot-of-investors-are-still-shorting-titan-medical-inc-tmdi/
Maybe from someone who doesn't buy into the negativity that is still sprinkled around the message boards?
CUIN2, Thanks for the PM... I don't subscribe here so it wouldn't let me reply but I definitely agree with it!
We've had the pain... now it's our turn for the good!
Message in reply to:
Correct assumption BelizeMe.
Nothing good ever comes without pain/effort.
I'm hoping the PPS will drive more warrants, which will drive PPS even higher, which will drive even more warrants, etc.etc.
Was that ($*) their earlier guesstimate? Or were they at $6 before?
Message in reply to:
BUY rating and $8 PT
https://www.analystratings.com/articles/titan-medical-inc-tmdi-gets-a-buy-rating-from-maxim-group/
SPORT, nice to have you on board today!
I've been hoping all along they go it alone long enough to maximize value. Mr. McNally's history has supported this notion - get approved, market the product long enough to prove your value, then get top dollar. And since he came on board, they have been talking of their intent for direct sales, or possibly a distribution agreement as the only type of "partnership" they would consider. For me, this would probably be an optimal scenario with perfect timing for my dream retirement.
As Todd Pope has relied on since Trixie's US approval, big ticket items require a 4 to 6 quarter finance ramp-up by hospitals, and since they are now in this window, it is do or die time for Trixie. If they sell 3 to 5 systems (in US) per quarter, I consider it a major flame-out. A dozen systems per quarter? Trixie would have to be taken seriously, and that also would bode extremely well for Titan, given our shared price point ($1.2-1.3M/system) and the fact that sales of a monstrosity like Senhance would prove how desperate some hospitals are to get away from ISRG.
And if Titan gets FDA approval first half of 2020 and has orders lining up at the door, the bidding war could start even earlier!
Message in reply to:
At this stage you can make a case for practically any company in the space to acquire Titan....
I hope they go alone initially.....
Get the money to get to commercialization...
MDA says they will use a direct sales force for commercialization..
I think they get it approved...
Prove it....
Sell it....
Flendy and BigT, I'm with you both! $5.75B for a one-trick pony (Auris) should bode extremely well for Titan when the time comes. Just need folks to pick up more of the existing warrants to keep the train rolling without amping up the dilution.
Just think... a week ago the news was out that JnJ was offering $1.7B for Auris, and they ended up settling for three and a half times that amount (presuming the Auris milestones are met). Just the milestone bonus cash is more than their original offering. I'd say that leaves all big players (JnJ still included) about 2 years to save up for a nice bidding war after we've been on the market for a year (as Auris has been).
Just like Titan last year??? (Maybe we could use our own Rory at Titan...)
Message in reply to:
It's also the new name for FUSZ which is about to uplist to NASDAQ and the stock price is expected to soar.
Sooo... Is Verb a Winner or is Verb a dog?
https://start.new.toshiba.com/news/read/article/the_associated_press-dog_agility_aces_compete_as_westminster_show_opens-ap/category/entertainment
Every morning around this time I see $6.30 on the Ask, at least for the past week or so. Let's see the Bid back at $6.30 for a change!
So did Ronald Reagan predict this week's price action? Looks like the Trickle-Down Theory has popped back up to define this week's PPS. It's like there's some giant wall preventing Titan from releasing anything to support any momentum.
Please Mr. McNally... Tear down that wall!
(Or give it to Mr. Trump - I hear he's looking for a big wall.)
Number 6 is better than no mention at all!
https://www.nasdaq.com/article/best-of-january-biotech-stocks-that-made-tripledigit-gains-20190204-00142
Element, was "Conmen" merely a typo or an honest assessment? (I have been saying all along that I don't think they would be the optimal partner for Titan.)
Message in reply to:
At BigT82:
Never owned a single share in TMD. Because there are a few years before expiration and after FDA approval, its like holding the shares for me. Less capital invested and much more leverage. I know this field very well, so it was a no brainer for me but would not have bought the shares anyway even with the major potential here. Warrants are NOT for everyone and most should just stay with the shares if they want to sleep well at night. People are waiting for TMD to go into commercial production. IMO, will never get the chance as they will be taken out long before under a business combination proposal. The logical business choice would be an existing "manual endoscopy" manufacturer like Karl Storz, Olympus, Richard Wolf or Stryker. Others are possible like Conmen etc, but that would be less logical & unfortunate to my first choice for a newcomer to own those valuable patents.
The fuzzy dice on the mirror look right at home in the casino parking lot!
1978 was the last production year for the AMC Gremlin. It was probably a '78 Gremlin X with the black stripes, another candidate for lead role in a Transformers movie! (That's my robotics tie-in for this conversation.)
There was sort of a spartan coolness to the Gremlin in its day - Especially for the few owners who chose the 304CI V8 and opted to pop on some wider rubber. The Pacer, on the other hand... Zero coolness until Wayne's World, and even then it was only cool because it was the epitome of bad 70's culture, which they were mocking.
So, Backfermore... Who on this board drives a Pacer??
Message in reply to:
Backfermore - Nickname the varsity cheerleaders at his high school gave after repeatedly chasing him off a ladder as he peeped through the second-story window at their slumber parties. Likes to be draped in velvet. Eats alot of cheese. Drives a yellow '79 AMC Gremlin. Hocks fake autographs on sports memorabilia at Single-A baseball games. Has several plastic cupholders in his Gremlin to hold his friend's drinks. Collected 50 tons of aluminum during the summer of 2015 so he could invest in Titan. :D
DRG, I expect some big players will express a serious interest starting after our FDA filing and maybe prior to approval. I think the current management team including BOD has a good idea what it will really be worth, and I'm not sure the big guys will offer enough up front, unless it becomes either a bidding war or a defensive move (someone buys us to prevent competition from buying us).
Every MD&A and Short Form Prospectus that I can recall echoes the same sentiment that (I just found it...) "the Company intends to utilize a direct sales force and/or distribution partner(s) to initiate marketing of the SPORT Surgical System to hospitals." They also throw in tidbits like "our intention to retain future earnings, if any, to finance expansion and growth" which probably would not be taken into consideration if their primary objective is to sell the company.
On the other hand, once they are established in the marketplace and moderately profitable, their value will likely be some multiple of their value at time of regulatory approval, so well worth the wait, maybe two to five years (depending on rate of adoption, capabilities of a distribution partner, etc.) to get their feet solidly planted for real negotiations. History for Mr. McNally is just that; get the organization on solid ground, optimize value, then sell. My best guess is a repeat performance.
Message in reply to:
Hate to break up the shop talk '66. But, do you think the chances of Titan being approached with serious solicitations of a buyout shortly after FDA clearance (Pre-Revenue streams) is probable? By "serious" I mean offers that get the attention of management to actually consider taking. Or do you think management is hell bent on going at it alone? Which is more probable in your opinion?
BrooklynHH, welcome back!
We're in a very similar situation... My kids are 21 and 23, and for their birthdays last fall (3 days apart!) I set them each up with a Roth IRA and 500 shares apiece. I told them it's a birthday present that they can't unwrap for about 40 years!
I should probably tell them that they have already more than doubled their money.
Also, be sure to stagger the pumps on the dual quads; that's a lot of fuel for a 340. I had a friend with a '72 Satellite with the 340/dual quad setup and it bogged miserably off the line if he opened it up too quickly. The 340 is reasonably sized so it won't be too heavy dogging it around the back roads in the Catskills; just be sure to buy good quality rubber and a good-handling suspension kit.
Having recently downsized, I also parted ways with my last Mustang ('66 convertible) and since I still have some parts in storage from my old '69 Camaro, I could end up back in the Bowtie camp. I have a sweet pair of double-camel-hump 2.02 fuelie heads and a nice Holley 750 dual-pumper. They just need a nice car to bolt onto!
Nice scoop, Janko!
$2B for a robotic system with fairly narrow scope (no pun intended) of indications. A general abdominal robotic system should have a much larger market and therefore a much higher buyout price. The money is apparently out there! I'd still rather see Titan fly solo for a while to maximize value first. But I wouldn't complain with a $7-10B buyout!
Message in reply to:
https://www.bloomberg.com/news/articles/2019-01-23/j-j-is-said-to-pursue-deal-for-robotic-surgery-firm-auris-health
Interesting times...
Flendy, I'm in the same boat as you with regard to PFIC. I knew nothing about it when I got in, and after reading articles from several links, I can now say that I am an expert in not knowing anything about PFIC status! I'll just have to take my lumps when they come due. The one piece of info I got was that it seems it doesn't apply to retirement accounts (not confirmed) and about 80% of my Titan holdings are in IRAs so hopefully that will be true!
On a subsequent topic... Uggs should be illegal in ANY climate. And the phrase "Man Bun" is an oxymoron!
Message in reply to:
I'm not advising this, but not bothering with PFIC at all. If down the road it actually pertains and they miraculously figure it out I will oblige. Until then I'll plan on paying normal tax rate.
Two and a half years ago I had a spreadsheet with input from most of the frequent posters on this message board, listing everyone's number of shares. Together we owned nearly 6% of all outstanding shares, and when were subsequently wrote letters to management suggesting an overhaul of the management team, we got their attention.
Ah, the good old days!
Message in reply to:
You must have a board in your office that tracks which posters say they are in/out
I will continue to congratulate those who have been able to either jump in low enough or continually cost average down to be at or near black. I will continue to sympathize with those were not so fortunate, some much worse off than me with regard to cost average. No blame, just fate, timing, etc. that comes into play. We're all in this together and I don't foresee anyone here who isn't in the black and subject to "Perma-grin" if they hang in for another 2 years.
Message in reply to:
Many of us HAVE averaged down...and we are still hovering around a $10 cost basis.
QuidWilson, I'm in a similar situation, questioning if this is really it. I do have a moderate sized accumulation of shares, but I just put in my SEP IRA deposit last week and I'm sitting on that, waiting to see what will happen. If we run into the $5 range by next week, I will be forced to consider this our final lift-off which should override the immense volatility we are seeing, so I'll need to buy. If we stay under or around $4 for a couple weeks, I'll keep waiting to see if a raise announcement is forthcoming, based solely on history (which should no longer be applicable but one never knows). With this level of volatility, anything is possible including another true "buy opportunity" but that is starting to look much less likely. This is all based on nothing more than "gut feel" at this point, but that is my tentative plan at this point (probably more "tentative" than "plan").
With an $8 cost average currently, whatever I do should improve that metric, but I would certainly like to optimize the end number as much as possible.
Message in reply to:
What is happening? As a sideliner do you think I should re-enter? Are we on the way to the analysts estimate if $6 or $11?
Institutional folk because... large blocks today?
I see it...
"we expect to prepare our regulatory submissions in the U.S. and Europe and to submit 510(k) and CE Mark applications before the end of 2018."
ex·pect - Regard (something) as likely to happen. Used to indicate that one supposes something to be so, but has no firm evidence or knowledge.
Synonyms: anticipate, await, hope (for), watch (for).
Doesn't sound like a guarantee to me, just sharing what the plans were at that time (Nov 13, 2017). Over two weeks later, the short form prospectus was released (Nov 30, 2017) likewise indicating the same expectation, with additional details on the uncertainties which could have, and ultimately did, affect the schedule. It was all there for anyone who chose to read it all instead of cherry-pick a key date from the text and consider it gospel without regard to all the info which was presented at that time. You may recall I was concerned about a full and accurate quote to ensure proper context could be derived.
They didn't know the FDA would come back and say they need more clinical trials than those written into the original plan. But they knew it was possible and publicly made allowances for that possibility.
It was not a lie merely because it was not what you want to hear. It was not a lie at all. I will re-assert that those here who have such strong distrust for the company and the management team probably shouldn't be here at all, and certainly shouldn't be poking around LinkedIn to "Like" posts which call our system a piece of crap by someone who is so heavily invested in ISRG. If a surgeon who used it called it a piece of crap, they would at least have some credibility. It turns out that any surgeon who has used it thus far has had very positive overall feedback and actual hands-on experience from which to derive a valid opinion. Or else they also all must be lying because they are saying things you don't want to believe.
If you are going to re-post that daily, be sure to include the full quote so people can know what he really said.
Message in reply to:
Titan Medical's (TITXF) CEO David McNally on Q3 2017 Results - Earnings Call Transcript $TITXFhttp://www.seekingalpha.com/article/4124481
There is a consistent pattern of findings already emerging from our preclinical studies. First, we're being told by experienced robotic surgeons that the user requirements which we finalize in a milestone earlier this year are right on target. These surgeons are telling us that the system is useful in its present form as they've been able to perform the basic functions of surgery, including tissue manipulation and approximation, grasping, cutting, suturing, and coagulation with our advanced prototypes.
Throughout the year, we will continue to refine the system to optimize performance and manufacturability. And most significantly, we expect to prepare our regulatory submissions in the U.S. and Europe and to submit 510(k) and CE Mark applications before the end of 2018.
No need... I found it in the Nov 2017 prospectus.
"Although an estimate of the timing and costs for the development milestones in Q4 of 2018 and beyond remains
highly speculative, the Company presently estimates that a total of US $55 million of additional capital, inclusive of
amounts raised through the Offering, will be required to fund development work through submission of the 510(k)
application to The Food and Drug Administration of the United States Department of Health and Human Services
(the “FDA”) and submittal to European authorities for the CE Mark, which are projected by year-end 2018.
However, given the uncertainty of, among other things, product development timelines, regulatory requirements, the
timing and number of future animal studies, human cadaver and clinical studies that may be required, and the
availability of required capital to fund development and operating costs, the actual costs and development times may
exceed management’s current expectations."
That doesn't sound to me like a firm promise to file in Q4 2018. It sounds like a plan to try to achieve, pending what turned out to be subsequent clarifications from the FDA regarding the timing and number of clinical studies, etc. Did he lie, or did several people on a message board cherry-pick bits of info from a formal, legal document which clearly stated the inherent schedule risks as known at that time? I'd say the latter. I wish you were right and he was a liar, because that would so much more convenient and easy to point a finger at.
No need to re-post this every day; I still think that would be a waste of everyone's time. And I'll gladly compensate for my memory issues by retrieving FACTS as needed, thank you.
There may be no need to thank you, but I'll do it anyway, as I recognize the time and effort you do put into this exercise on a daily basis.
BigT, could you please pass me the Grey Poupon? My caviar is a tad dry today and isn't sitting well with the Lagavulin.
Message in reply to:
Everyone here remembers him saying that....except you apparently....
My memory of his quote may actually be spot on but because you asked for it I will find it and post it EVERYDAY.
Not a waste of time since you obviously have memory issues. This way you’ll have a hard time forgetting it. No need to thank me
Well, thank you for validating my concern. Without the exact quote, correct context cannot be derived. Paraphrasing by a known critic inherently loses validity due to the viewpoint discrepancies between the origin (Mr. McNally) and the interpreter (you, in this case).
A daily re-posting would be overkill and a bit of a waste of time. If, however, you did have a convenient link to the original material, it would be timely evidence to substantiate your claim, and I would in fact appreciate it for purposes of achieving clarity on this controversy.
Thank you in advance for your thoughtful cooperation.
Message in reply to:
I said I BELIEVE his words went SOMETHING like this......
Clearly indicating not an exact quote...but you know that....if you don’t remember were he said it that, and you probably don’t because you struggle here, it would be the November 2017 CC.
When and where did he say that? You used quotation marks. It would be interesting if you can point us to the actual quote so we can ensure the broader context of his statements support your apparent theory that he was intentionally lying to us, particularly in regard to the "we are on track for..." statement.
This is an opportunity for you to prove yourself correct.
Message in reply to:
Last units “worked” too according to MacNally.
I believe his words went something like this “there is a clear pattern emerging. Surgeons are telling us the platform is useful in its present form” and “most importantly we are on track for a 2018 FDA submission”
Yeah that’s Mac for ya....
Can’t trust him.
Yes. Often enough that I'm not getting too worked up over it today. Maybe we'll get a pop today from yesterday's news, but that paper was finished in September and pertains to the old system. If anything, the conclusions reflect negatively on the hardware compared to the current platform and all the improvements which have been made.
A day after the WSJ article we got a nice, brief run-up and gave most of it back the same day; the rest has since dissipated. A WSJ article should be much more impactful than a 5 month old paper about our outdated platform being published in a very specific, relatively small circulation trade magazine.
Message in reply to:
There’s a 1000 shares that went off at 2.30, have you ever seen premarket higher trades here?
4 (yes FOUR) shares at any price hardly merits that much excitement. Sure, $2.33 is going in the right direction but a $10 investment is not going to make or break this company. I wish I could share in your level of enthusiasm over this.
My own thoughts initially were just that the big blocks aren't normal retail volumes, at least not for Titan.
The warrant question was initially a Rocko question, and I just wanted to point out that there could be a feasible explanation for that as well, if it was a contributing factor.
Trading volume is trading volume. Obviously. I think the question of the day for Tuesday is who was buying, especially 100,000 share blocks per order? That is not typical retail trading, especially for a stock with recent historical daily volumes only in the high five digit range. I suspect we had some commercial entities engaged that day.
That being said, if some warrants were exercised, it could take several days before the reporting cycle catches up, and if said commercial entities caught wind of the warrants being exercised, they might have figured they need to jump in with both feet. Just a hypothesis, maybe low in probability but nobody yet has offered a solid explanation of that volume or the spike to $3.48 (over 75% jump in an hour or so!).
It would be nice to hear some other rational hypotheses, maybe even something that could be replicated! And it would certainly be more welcomed than the quality of recent "information" shared here.
Message in reply to:
The volume was TRADING volume. Period. Couldn’t be warrants or private placement. Just trades.
I’m shocked that you would think warrants would be included in volume....just no understanding of how things work.
Message in reply to:
It could be that warrants were exercised based off milestone achievement of engineering confidence build.
I guess I can see why we haven't seen much of Scalpel on this board lately! Palpable hostility toward a respected contributor such as him might explain some of it.
Slipping back a little... but still higher than Trixie's share price!
Update:
Oh well... it was fun while it lasted!