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Thanks Sport19. Great post. Sorry to hear you are losing your shorts on this investment as well.
It is upsetting to be down on this stock but don't make a mistake and sell. It is going to be an interesting year. The stock tripled in less than a week on good news. It is going to happen again.
Bottom line is you own a stock many are unaware of in a market with only one player at the moment. Soon Titan will be a part of that market and again, its pps will not be at these levels.
This stock is like a coiled spring. Just finished a raise. Institutions bought recently. Board members will get their options repriced. Only down to $2.50 pps. A lot has been done that has NOT been released. Going to be an interesting couple of months. Will be interesting to see the announcements in that time.
Agree RobotMaster. We need to hurry up and wait.
It has to do with the FDA. Just GUESSING but AGAIN, they are in close talks with the FDA. McNally knows there is competition coming. Whatever makes the smoothest path to acceptance by the FDA is what he will brand it. Once FDA approved, will be bringing in revenue. Share price goes up. ISRG will have competition though in a narrowed scope. The Teleflex deal makes sense then. As McNally mentioned, Teleflex is for future applications of the product. A little easier to venture into other disciplines ie. general surgery when you are bringing in revenue, pps is up, shareholders are happier and you are in the market. Again, I suspect partners will be lining up to help Titan at that point.
Thanks Debbie
Bring it on! I still have $25,000 to spend. Any other negative comments Debbie? The more negativity you post, the more people who see your comments realize what you are truly about. Like the Boy Who Called Wolf. Only named Debbie.
But if we do we are looking at no further raises. And with FDA approval and an announcement of a partner after approval, pps will soar. Thanks Debbie.
Totally agree ribguy. I do not believe anyone here understands how truly difficult it is to get a product to market through the FDA. I believe McNally understands this. He is as you say focusing on one area FOR NOW, reaching ALL milestones and taking baby steps to help shareholders with trust and get the INITIAL product to the finish line.
Has anyone here worked with the DaVinci? A lot of us in healthcare thought it was a joke when it was approved. Incredibly heavy, takes up an entire OR, cannot be used in an outpatient setting due to the size of the machine, is very expensive and often needs another port or an assistant scrubbed in to help the robot do what is was supposed to do in the first place. You have to dismantle it to use the room for other disciplines. You crap your pants when you move it, hoping not to hit one of the arms on a door or wall. Some of the parts have to move to the hallway where it is not supposed to be as JCAHO and OSHA say it is a fire risk to safely move patients. And this is supposed to be the best robotic system we have for patients?
McNally understands competition is coming as well so he wants to get this little piggy to market first and let it in develop into a big sow for a future luau.
Another negative comment by SPORT19. Who didn’t see this coming? Lol
I believe the board was working closely with the FDA and the definition of the device and the rebranding will be determined based on the discussions they are having with the FDA.
Exactly!!!!!!!
Agreed Honeycomb
I believe the rebranding will be determined with continued discussions with the FDA. He mentioned robotic versus non robotic. My guess is it is the verbage necessary by the FDA to get the product to market. Whatever verbage the FDA deems necessary is what Titan will become.
Reviewed the responses of the teleconference on this site and some of the negativity and then I listened to the teleconference and these are the key points I learned:
1. Achieved an over allotment of funding from recent raise and with warrants being reached from increasing pps, they expect an additional $55 million in revenue.
2. They have achieved all milestones for 2018.
3. THEY ARE WORKING VERY CLOSELY WITH THE FDA.
4. They are focusing AS A START on gynecological surgery with a potential revenue of $900 million per year.
5. There focus is on surgery centers with smaller footprint ORs.
6. They have 31 patents and 76 pending patents.
7. They are using a haptic interface.
8. They are focusing on surgeon curriculum training.
9. There is an untapped market of roughly 90%.
10. They have enough existing funding to get to 3rd quarter 2019.
11.No change in deadline for a design freeze in June 2019.
12. Launching the product mid 2020.
13. Applying for FDA approval for a 510K device.
14. Their discussions with the FDA will determine the rebranding of the product to meet the needs of the FDA.
15. Their agreement with Teleflex is for future uses of the product once the system is approved for gynecological cases.
16. The board members want a repricing of their options.
It appears to me the board has their crap together and are focusing their energy on getting the device approved by the FDA by working with them closely and focusing on one discipline.
Non dilutive funding will be necessary in the future.
If I were to guess, I would see a buyout once the clinical study is completed and the device is approved. There will be no extension on the design freeze, the study will be done, pps will slowly increase and a buyout will occur. IMO
Fine with me. I did not spend all my money yet. I can buy more.
And sometimes you have to make an extra incision for a DaVinci case for an assistant. Four robot arms plus a fifth. So a robot case that needs another assistant helping through another trocar. Seriously?
Anything positive to say Sport19? Like ever?
$4.94
Thank you for the question. It made me look at total shares my family has. Was not looking forward to doing this due to the number of shares we have. Actually made me feel pretty good since we have been in it too many years to count. It also helps me to determine the positions of other people on this site. If we are ALL telling the truth, it will allow you to determine whether people on this site are just shorting the stock or are sincere in their comments. Bashing the stock when you are down significantly is understandable. Bashing the stock when you are in the green suggests you are possibly shorting the stock to make more $. By end of year, it would be nice to break even.
So if I understand correctly, 8.5 million shares just hit the float and more people are trying to scare shareholders and short the stock. And Titan knows this. So Titan purposely threw this carrot of good news out Monday at 7 am to people knowing it would help to lessen the effects of shorters to keep the pps at a decent level. As a result, the pps would be relatively stable. Also as a result, shareholders will vote in favor of the board for their request for repriced options for the hard work that they are doing. Am I following the dynamics correctly?
Wonder what other good news Titan knows about that they are not telling us?
Thank you for the information. I really appreciate the insight on this board. You have taught me a lot since I have been watching it. Allows you to understand the dynamics going on which helps you understand the price action. People shorting the stock versus board members trying to get their options exercised. Just wish we were at December 2019 and we did not have to discuss the stock at it's current values.
So ignore all the naysayers out there and buy shares!!!! Do not let them win!!!!
What the hell. Just bought more.
Why would this stock drop after news like this? Anyone?
Timing
Why announce this partnership now when they could have announced it before they JUST diluted shares. This partnership didn't just happen. And if it happened over the weekend, why announce at 7 am? Thoughts?
Another question. If you are holding an updated business discussion on Thursday, why announce this partnership at 7 am this morning? This was a planned announcement to be given before opening hours today. Why not announce this on Thursday?
I do not follow you. You talking about JNJ?
Announcement came at 7 am EDT. AT 8:50 am EDT premarket stock price was $2.95, down 1.67 per cent on Market Watch. Hilarious. You can's make it up.
The Teleflex deal was announced at 7 am EDT. Titan board members are still asleep right now. I find the timing of the partnership rather hilarious. What else are they not telling us that they have known about? It also tells me the JNJ partnership was a joke. I suspect they already have plans in place to build and market the robot from companies people are not aware of. Titan is thinking outside the box. I mentioned the dilution shares were a gift. I still believe that. Another post on this board informs us most of these shares were bought by institutions. Whether that is truthful remains to be seen. Exciting times.
View this email in your browser
Titan Medical to Webcast Business Update Conference Call on March 28, 2019
March 22, 2019
TORONTO (March 22, 2019) –Titan Medical Inc. (“Titan” or the “Company”) (TSX:TMD) (NASDAQ:TMDI), a medical device company focused on the design, development and commercialization of a robotic surgical system for application in minimally invasive surgery (“MIS”), announces that management will webcast a conference call on Thursday, March 28 at 4:30 p.m. ET to provide a business update on the Company and its SPORT Surgical System. Speakers on the call will include David J. McNally, Chief Executive Officer of Titan Medical and Stephen D. Randall, the Company’s Chief Financial Officer.
Investors can access the call through Titan Medical’s website at www.titanmedicalinc.com, by clicking on the “Investors” page. For those unable to listen to the live webcast, a replay will be archived on the Company’s website.
I hear you. Very depressing to be holding this stock for the same time and being underwater. I came into some money lately and was just lucky to buy more to average down. The good thing is you like I had the courage to hold onto the stock this long because you feel it will come to market as do I. Been through wars with other stocks and the incredible amount of manipulation that goes on to scare shareholders into selling. Stocks drop on good news. Stocks jump on crappy news. PPS manipulation. Secrecy with boards. A drug not FDA approved then suddenly a reversal. People jump in last minute and make a fortune. You cannot make it up. Good luck to you. I hope we all succeed.
Strong work!!!!
Wanted to be in with $100k. I am at $80k now. Was going to pull the trigger at $3.50 but hesitated. Glad I did. Bought some at $3.30 and 6000 more around $3.10. $20k left. If it drops some more tomorrow, will finish my goal. Then sit back and pray.
I actually did buy 6000 shares today.
Picked up 6000 more shares. Thank you!!!
Board members are going to get paid an increased price for their options. Bottom line. It is going to happen. Design freeze will happen.
Told you. They are handing you a gift art these pps prices. People like me who have been holding for several years and are in the red do not matter. We are lucky we did not lose everything!
Buy more and you will make a profit. Not a big a profit as I thought I would make but a profit nonetheless.
Once this funding is over I believe you are going to see some big announcements. Even if there are no announcements, the clock will still tick and investors are going to jump in so as not to miss the big raise. Do you want to be on the sidelines when this happens?
You really think after ALL of these investor conferences, nobody is interested? Come on. Agreements have already been made behind the scenes. The board is going to get paid and then things are going to go crazy with TMDI.
Agreed. I mentioned last week. You are being handed a gift at these prices.
One of the best posts I have seen on this site in a long time. Thank you very much for this post and the valuable information contained within it. If you have ever worked with the DaVinci in an actual OR, you will know it is like lugging an elephant around a small room. The patient has to be brought in through a maze. The circulating nurse has to then position this million dollar monstrosity over the patient guided by the surgeon. The main unit is attached to the surgeon console through large heavy awkward cables. There is a speaker that comes from the surgeon console for the surgeon to communicate with other staff in the room which is difficult to hear. Once the robot is positioned over the patient, it looks like a car assembly line with four gigantic arms hovering over the patient's abdomen. Even with four arms, more often than not there is an assist helping to manipulate the arms over the patient in very tight quarters. The DaVinci rep is usually in the room to help the staff and surgeon as a teaching tool which adds to the cost of the procedure as reps cost money to be in the room. For example, a Stealth robotic back case costs $3000 to $4000 per case just for the rep to be in the room! We are currently teaching some of our nurses in the use of Stealth to reduce this cost.
When the procedure ends, again this monstrosity has to be separated and stored somewhere. Again, the components to this system are huge. The parts are often stored in the corners of very large OR rooms if they exist. Staff were always fearful of bumping one of the arms into a door or wall resulting in thousands of dollars in damage. Most ORs are dated and small in size. Ambulatory surgery centers are compact. Trying to fit a DaVinci robot in these rooms is difficult. And where do you move it once the robot cases are done and the room needs to be used for another discipline? In the hallway where it creates a risk for patient safety in the case of a fire. A lot of ORs have inadequate equipment storage areas and overcrowding hallways is commonplace and a safety hazard. The other difficulty is with keeping the robot in the room in the corners of the room. Then you decide to do a vascular case with the patient having a history of MRSA. Can you guarantee that MRSA will not contaminate the robot and create an infection on the next robot case? Currently, they cover the robot with sheets when a subsequent MRSA case is done in the same room. Sheets protecting MRSA! Great idea.
Health care professionals are going to laugh 10 years from now and talk about how the DaVinci robot was equivalent to a Ford LTD or a Buick or a Lincoln Towncar. Newer nurses are not going to believe it. "Really?" No way! The robot was that large and cumbersome. You are making this up, aren't you?"
Finally, most individuals lugging the DaVinci around are nurses and predominantly women. The wear and tear on nurses bodies over time is ridiculous. Reducing the footprint and wear and tear on staff for hospitals is very advantageous to staff.
Titan Sport will be better for smaller ORs and especially in ambulatory surgery centers. There is a current shift for outpatient surgical procedures to be done in ambulatory surgery centers. Health care insurance companies are demanding it. Hospitals have lost 20 to 30 per cent of outpatient cases to surgery centers.
DaVinci is the best and only thing we have right now and health care professionals see that it is cumbersome and antiquated.
And you can buy the stock for $3.30. Hilarious. And very few people know about SPORT. You cannot make it up!
Totally agree!