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I think yesterday was just collateral damage from Intuitive's earnings. Seeing a nice, early bump back up toward the $1.40 range this morning on light volume.
Intuitive fell off its intraday high of $559 today and then missed on earnings and revenues after the bell. Transenterix has been drifting back lower after intermittently spiking on the GLP testing news.
Investors in the medrobotics space had to rob one of their piggybanks to pay for their losses, and that piggybanks was Titan.
On Intuitive's miss and TRXC's fluff PR and questionable analyst event, Titan would be very wise to come out with some solid, unexpected news right about now. But I'm not expecting that they will (come on guys, prove me wrong)
It seems like an in house robo program at Applied and them partnering with Titan on robotic tools for SPORT would be mutually exclusive?
Applied Medical is presently hiring a Robotics Engineer at its California location, so perhaps they are not the manufacturing partner that Titan is referring to:
http://www.appliedmedical.com/Careers/Position.aspx?Title=Robotics%20Engineer&ID=17503
(note: This job positing hit the web around April 2, 2015)
Titan Medical Reiza Rayman will be speaking at the Discovery Ontario Centers of Excellence Conference on April 28.
Panel: Exploring Exponential Medicine - Telesurgery & Robotic Surgery: Healthcare’s
Next Frontier
This panel will explore how telesurgery and robotic surgery innovation has been
integrated into the scope of surgical work being performed in Ontario hospitals, and
how it will serve to benefit people in developing countries where medical
professionals, especially surgeons, are hard to access.
Panelists:
Dr. Mehran Anvari, McMaster Medicine Professor & Centre for Surgical Invention &
Innovation
Dr. Reiza Rayman, President, Titan Medical; PhD, Telesurgery
Dr. Christopher Schlachta, Medical Director, CSTAR at London Health Sciences Centre
Source:
http://www.ocediscovery.com/docs/default-source/default-document-library/discovery-2015-agenda.pdf?sfvrsn=2
New PR regarding research presented by Titan SAB member Juliane Bingener-Casey at SAGES:
http://www.healio.com/gastroenterology/interventional-endoscopy/news/online/%7B004466e2-4efb-4c77-8b5a-b2e2669bf8bb%7D/single-incision-cholecystectomy-more-stressful-physically-demanding-to-surgeon
Bottom line: "Single port choles are stressful on surgeons...BETTER ERGONOMICS REQUIRED"
Sounds like foreshadowing for SPORT...
LTG, you may want to Google what GLP testing is before you get excited.
Can you elaborate as to how you know they're already looking for NSMs?
Was this the chicken in a jar video, or the pig surgery from November?
We will find out either when the other company PRs on this, at Q1 earnings, or at the AGM.
This is great news, but who the heck is the supplier?!?!?
I suppose the short list is Olympus or Karl Storz Endoscopy.
Anyone out at SAGES this week?
Glad you chose the red pill over the blue pill. I'd be lying if I didn't tell you I'm jealous that you're going to get a peek behind the curtain.
Have fun!
CUIN2, I don't know which hospital it is. All the doc from Twitter said is that one of the beta sites would be near him. A quick look showed that he works closely with Albala in Syracuse. The rest is an educated guess based on these facts.
Do you know who either of those docs are?
Saw this interesting Twitter conversation on the upcoming clinical testing of SPORT. Looks like this guy knows that one of the beta sites will be near Syracuse:
Ficarra: what is most needed to reduce costs of robot-assisted surgery? Competition. Anyone know re: the Google/J&J robot project? #USANZ15
— Matt Cooperberg (@dr_coops) April 13, 2015
Investment managers Abner, Herman & Brock have actually increased their holdings in this stock over the past several quarters. Click below for their holdings as of 3/31/15, and then scroll down to the bottom of the page to look at their past holdings...you'll see an upward trend:
http://stockzoa.com/fund/abner-herrman-brock-llc/
In other M&A's that involved warrants, the purchasing companies have either converted the warrants to warrants for shares of the acquiring company at some conversion ratio, or outright honored them them at buyout minus strike price. I have yet to find a solid example where they simply canceled the warrants.
New SA article on TRXC that briefly mentions Titan in a positive light:
http://m.seekingalpha.com/article/3060656-robotic-surgery-is-transenterix-a-better-buy-than-intuitive-surgical
All (as in 100%) of the money that they've made so far comes from the sale of shares and warrants to shareholders. This is all passive income (they sell shares and use it to hold massive raves at Ximedia HQ for all we know). Once they (hopefully) start generating income from sales, they won't meet the 75% rule anymore and won't be classed as a PFIC.
In the meantime, though, you should make sure you talk with your accountant and have them include all the right paperwork with your tax return, or else you will probably get stuck paying through the nose on your long term cap gains later when you try to sell.
(As always, do your own homework....this is just my personal opinion!)
Dak, that's the same link that I posted. They won't post the one for last tax year until 4/15.
LTG, to be fair, this is taking place in the same building as SAGES, but not as an official function.
Classy move on Mr. Pope's part....wait until you can get a bunch of docs in one place on their respective hospitals' dime and then have them talk up your product at a sideshow event.
Nevertheless, I'll be listening. It should be interesting to hear them all tell the world how much they love standing on their feet for hours with Surgibot rather than comfortably driving daVinci at the console.
Not sure what you mean by that?
Another SAB member sighting at a big upcoming surgical conference:
http://www.acog.org/-/media/Departments/Annual-Clinical-Meeting/2015PreliminaryProgram.pdf?la=en
See page 23... (page 25 in the PDF)
Place the order and let your brokerage worry about filling it. Market makers are there to make the stock liquid enough to fill a 100k order relatively quickly.
You're correct. Not sure what happened there,
40K share order at open? My realtime streaming showed that, but I'm not sure I believe it! Can someone else check?
Need more evidence that it's JJDC. There are 10,000 entities in MA that have the resources to plonk down that kind of cash. JJDC is a strong possibility, but there's no smoking gun.
If you want to know what's going on, go to the upcoming shareholder meeting. They can't ignore you in person.
That'd be great, though they're not listed anywhere on the SAGES program at this point (other than the possible Dutton talk this we discussed earlier)
He is a bit nuts, but correct that the projected outlays for this year will exceed cash on hand. Management knows this (and that the first warrants are coming up on expiration). They'll either act shortly in a way that will prop up PPS so warrant exercise funds further operations, or they'll issue more shares (which I think would prove unpopular with both current and new shareholders).
My guess is that they'll do the right thing and prop up PPS by letting us see what they have. No point in hiding something that you have to protect it if you have no more money to build it.
HC777, as of Dec 31, 2014 Titan had $26,165,182 cash on hand, per their recently published financials. They expended about $10M on R&D last year, which fits nicely with the $7M they projected they'd spend on the alpha model + $1.5M for tissue testing through the end of 2014 (source: April 2014 Annual Information Statement).
The real question is whether the $11M they have in the recent MD&A for the "feasibility prototype" is a separate cost, or if it builds upon the $7M spent on the alpha model. The way they have it listed in all of their filings suggests to me that the additional work to enhance the alpha model into the feasibility prototype cost only $4M more, not $11M more.
Yes. A single photo of a prototype installed at a clinical trial site would change everything.
Gentlemen, let's keep on topic please. The ECIGD conversation belongs on that board. Thanks.
The J&J connection does possibly make sense if you look at this SEC Form D filed last year:
http://www.sec.gov/Archives/edgar/data/840551/000106299314002497/xslFormDX01/primary_doc.xml
It shows that some entity in Massachusetts bought a big chunk of one of the offerings. At the time, I figured it was some brokerage or hedge fund. But another way to look at it is that it was JJDC - Johnson & Johnson Development Corp, which is based in MA.
http://www.jjdevcorp.com/
Obviously it's all circumstantial, and I really have no idea if it's true. But it does kind of fit the puzzle.
Why not take your $30/share in Titan and then go buy shares in the company that buys them?
I'm still curious about Intuitive's ability to sell SP. It'd seem that Columbia University's IP on IREP (the underlying basis for SPORT) would prevent a design like this from being sold.
Mentioned in new article on SA:
http://m.seekingalpha.com/article/3044596-the-rise-of-the-robots-mazor-robotics-intuitive-surgical
Titan listed as competitor to Mazor. Good stuff in this article about the growth potential of Mazor over the next 5 years....a good proxy for what we might see happen with Titan.
This TD Waterhouse research page on Titan popped up today...it sort of demonstrates, though, how they don't thoroughly research these pages...check out what they say "MIS" stands for in the company description:
https://research.tdwaterhouse.ca/research/public/Stocks/Overview/ca/TMD