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No, not all caps, but please proof read. How fast you type is up to you.
We don't have a CLUE how much work is being performed for Titan by Ximedica, or anyone else. Maybe, one person half-time, or maybe a team of 15 full-time? Maybe hardware, maybe software, maybe training, matbe sales infrastructure, maybe only patents work. None of us know anything but $0.38
We don't know. This F'ing company never tells stockholders anything material of use, ever, that provides any real information about one's investment.
Please speekee Inglish.
Right, and at the very least Verb would have a hand (at this moment) in SPORT development, software, even if not hardware.
I just don't think that is happening, let alone information that Titan would not be obliged to make public, especially when they are making public offerings of stock.
Hope I'm wrong.
Agree completely. In fact, McNally drew distinctions in his last presentation between Titan and the Verb initiative.
What would be the sense of suppressing a partnership for this long, with no leaks? If Verb is designing, or tooling, or reviewing IP, or developing a digital platform, or doing anything (which they say they are), WTF is the point of letting Titan piss and crawl moneyless, under inept leadership, for what, close to 3 years now?
Got to admit, Transenterix tries.
I want Titan to get into regulatory review, now. These F'ers will drag this out forever, until bankruptcy.
$0.38 That about says it all.
Yea, unfortunately no other of the thousands of other investors see it. Might make a half penny up by today's close.
No conflict of interest when there are two separate technologies.
Yea, the secret handshake deal between Titan and JnJ/Verb/google...whatever that has been under wraps for two years with no speculative leaks raising the pps and the CEO master of the deal shitcanned due to incompetence. Oh, and Fowler leaving when he could be the biggest player in surgical robotics since ISRG.
I wish there were a deal.
I do not think there is any deal.
Why keep it quiet? Why let Ximedica stop working due to non-payment?
That about sums it up for many of us. Great post!
They should have someone at Ximedica and anywhere else development is being done, frequently if not permanently.
We have zero information about the scale of Ximedica involvement.
You hit the nail on the head,Slick. I'd qualify the "lies" were more like inept over reaches, but what they exhibited surely was 75% looked and 25% substance.
Following the same course for 3 more years is not going to do anything but repeat history. You don't think that a competition is heating up to squelch them?
McNally please SELL OR PARTNER soon!!!!!!!
You are right, and I've been saying this since my first posts: either the snake arms are advantageous or not. As yet to be proved. Maybe the winning paradigm will have one wristed and one snake arm, or more of both.
But if McNally wants to push and protect the IP envelope that is a good thing.
Good luck with that.
Even a $75M infusion right now is only going to translate to "we can now hope to get this thing to market after 3 more years".
PPS rise on that news may double it, temporarily. Still stays sub $1.
JH probably just had some scraps of paper from the patent Office in an old shoebox under the desk, and no one had a phone number for RR so he could call and ask him. Randall asked what does IP stand for, and Fowler was at the spa getting ready for a new bio photo. Paige was at a cooking class in Tuscany.
Hopefully, McNally is getting review and appraisal of potential value of IP, up-to-date and done on his own watch. He must do that to help put a certifiable value on the company. Hopefully for when he sells it. I'll settle for partnering too.
Of course it is three years, and that's under the best of circumstances.
Couple that with a company barely able to get their name out and man you are looking at a long downtime for your money to sit, while Verb gathers steam.
Any reason why this F'ed up company NEVER mentions its partners, or suppliers, or anything concrete like medical institutions where it is (or will be?) evaluated. Never anything to give one iota of concrete grounding in what is happening in the real world. Like, "Here is a video of SPORT in action on a cadaver procedure, being driven by Dr. Joe-Blow". OK, he mentioned Columbia U. Big deal - been known for ages. How about mentioning Ximedica (unless I missed it). First time I've EVER heard explicitly stated that the snake arms may be more natural to use than wristed instruments. Went right over the audiences head, I'm sure.
The only bait he threw to the supposed money-lenders out there was mentioning ISRG, and by implication that we are the next to take space in their market. Really!!?? Not at this frigg'n rate.
He should have said, "We need big money now and we can turn this thing in to the FDA in one year gentlemen!".
So my take away is that there is still a lot of technical hardware and software work to do. How many people at Ximedica, at this moment, are working on that? That's WTF I'd like to know.
I want a buyout within a year. It'll take a miracle otherwise to see this stock over $2 in two years.
Well McNally sounds like a confident and capable guy, but beyond that I'm sorry to say I am underwhelmed at the chances for any significant improvement in valuation of this stock within two years, if not three.
It still appears to generate the same amount of excitement as the next disposable razor from Gilette.
The presentation put me to sleep and it sounded the same from the audience.
I'd be happy to get out at $1.50 and then just keep tabs on their progress for the next 2 years.
Wonder what Paige is up to for the next 2 years?
If the presentation says two years (if we get the money and if we get approval) let's just be honest and call it 3 years.
Seems we are about neck and neck with Verb who are "just starting out". Strangely, we actually have software and hardware that already works, but that we are never shown.
No way at this level of development should we be more than a year away from the market, if we were partnered with a company used to making medical products. Thanks JH, RR and the other clowns who lost us 2 years.
Looks like another 3 years at sub $2 pps. That or sell your stock. Or hope the company is sold for a decent-enough price.
Have to agree.
When the founder, "robotic pioneer", major shareholder, and (former) President, goes underground for years, it kind of gets you wondering WTF is going on. Speaking about RR, of course. Guy still isn't anywhere to be found. I suspect he has physical or mental health issues; that's all I can suppose (with sympathy).
Other than that, McNally let's sell this thing off pronto so I can invest my money elsewhere.
Agreed; the Med Robotics FLEX sleeve is essentially a "functional port" that can snake-in endoscopically to more distant locations. Med Robotics would be nuts if they are aren't considering this. Again, Titan has got to go into sprint-mode now to leverage the ISRG-only market.
HC, like you I'm glad to see the extensive interview, but still feel empty on the content. I didn't see anything that is news or shouldn't be happening anyway.
But yeah, JH and RR rode this right to the edge of a cliff, and we are barely holding on. McNally is paying them lip service just to be nice.
No, I don't, and you don't either.
My point is you can spend years in an approval process, especially with a low manpower, low budget, low profile company on a VERY, VERY complex high risk device.
We need an experienced powerful partner as soon as possible to push this through to market.
I hope the basic prototype is better than daVinci; that's wonderful. But that doesn't get it approval or to market any faster.
CE mark and FDA approval take a long time, even after initial submissions of material. How many iterations of approval paperwork, revisions, explanations, calls for additional data etc., will need to happen. I think if today it was announced it was design frozen, then if we have the submission ready (thousands of pages of documentation), you thing CE and FDA turns this stuff around overnight?
I know companies gave up on simple clinical test equipment getting FDA approval because it took so long as was so expensive. One mistake and you are screwed for more time and money.
Where are we in the pre-approval process? Has Titan given us a timeline or status? I am not sure we are even ready to begin yet. Last thing I heard we were dealing with a change on pedals and software; is that finished? They don't have their Engineering VP to be overseeing this process yet either.
I'm just pointing out that unless all this is being kept under wraps by management, I (we) don't know a thing, except we better hurry up.
I say within 3 months.
McNally is not going to nurse this thing along for another year or two under the previous strategy.
It is M/A material right now and frankly with the number of people who have gone way out on a limb investment-wise, I think a small return on investment balances out the agony of going it alone.
Cuin, Per your two options, we know #2 will not get us anywhere. And a small cash take on even larger dilution just leaves us where we are and time is wasting. There is nothing material for Titan to show for investors except we are under new management. For those unfamiliar with the company that means nothing.
Only #1 makes sense.
Exactly; the correlation is like Honda and Ford both claiming more comfort, safety, efficiency, and driver assist AI for their upcoming car models. Fowler was just stating the buzzwords that all surgical robotics are after.
We don't know ONE THING about the physical SPORT system that we did not know over one year ago.
Titan is out of time, unless they begin a regulatory testing process within the immediate future (within a couple months from now).
Pressure for Titan to sell/partner to a company with deep pockets is unavoidable. Titan will not go it alone, in any case.
The money to get the job done in a timely fashion is not available by public investment. Investor participation, even after favorable showing of the product (and that hasn't even been done lately) has been mediocre. We have just gotten so used to it we can't see how ridiculously low this company is regarded as an investment opportunity.
Likely that ISRG or Verb will be the medical market's options for robotic surgery systems. Just like PC or Apple was for decades.
Sorry, but we are up against big forces, and we continue to just shuffle along.
Scott Huennekens further noted that Verb has been demonstrating the working prototype to its stakeholders for the past several months. “Verb is in a very unique position to leverage technology in ways never imagined before,” said Huennekens, “and we’ve just taken one major step forward to creating the future of surgery.”
That along with commentary by the co-founder of Google, mention of Ethicon, JnJ, Alphabet, Verily, etc...
More investors and potential SPORT buyers know about Verb than Titan.
We are now actually behind the 8-ball. Are we even close to "beginning the lengthy application process" for CE and FDA? No.
Step back.
Now, are we even close to design freeze to begin beginning the application process? Who knows.
Verb might be two-three years away, but we could be a solid 2 years away from getting to market, even if we get through approval.
Who has more money in their pocket, Verb or Titan?
Titan is out of time, unless they begin regulatory testing in the immediate future (within a couple months).
"But the company needs to act fast before technology passes it."
Exactly my opinion. As I've said before, the snake arms technology is an alternative paradigm to wristed joints. It is not proven superior or inferior to ISRG's or any other surgical robotic manipulation on the horizon. But it will have ZERO traction until it hits the market and surgeons can try it. It's adoption will have to compete against the daVinci model and all the training that goes along with mastering that technology as a surgeon. Surgeons will not initially want to put in the resources to become adept at both. It is unlikely that either will supplent the other. As such, SPORT is an additional one step behind other more typical developing companies in robotics. The ace in the hole would be if SPORT is demonstrably "better". That is unlikely. My point is that initially SPORT will find it difficult to "break the mold". Price point will be its greatest ally early on.
We don't have years anymore to get SPORT into the regulatory pathway.
Agree. It is a side job for him. "FDAnews" is not affiliated with the FDA. Good for Titan that he knows the ropes well enough to present as an expert in FDA regulatory protocol.
Should have been, for the last few years.
I'm in.
I'm very happy with the content, and especially your gift for relaying it with such classy writing.
Not real important but I'd like to know the how's and why's of the SAB as it is currently selected for Titan. I have a feeling this was an idea of someone on the board, or JH or RR way back when. We were all impressed with the list of names ("Wow!. Titan has its own SAB!") but practically speaking, aside from Valvo's visibility, have ANY of them EVER been involved in ANYTHING related to SPORT? If not, I'd say drop the whole SAB and concentrate on developing (and appointing) surgeon or institutional relationships that DIRECTLY have something to do with SPORT development or testing. And put that on the website.
I'd rather have one or two surgeons and one or two institutions listed as officers or co-developers in the company rather than a dozen far-flung and minimally involved individuals.
Nice to see the need for in-house engineering being addressed. Only about 7 years late! Seriously, JH and RR now look even more like complete morons.
Nice if they could lure away someone big from ISRG but I don't think we have the money. Maybe better to find someone really hungry to make a mark, and a buck.
No wonder for some of them. They had nothing to do.
Agreed. If you can't even post a recent cell phone photo of yourself that's pretty lame.
These think tank/advisor groups are a dime a dozen at universities and academic medical centers. The purpose is to employ non-technical managers to encourage engineers and scientists to throw everything at the wall and see what sticks, hoping to strike it big for the old endowment coffers and a fancy new building on campus.
Now if Fowler is still active in promoting the word on Titan, then that's good, but what would be his advice for them? Raise money, design freeze, regulatory approval are what they need and are all the things he is not he is not expert in. That's why he left in the first place. So, so-so news.
Titan is like heroin for cynics.
Hell, I wonder what Paige and Rayman did 5 days a week for the last 3 years.
Aren't the patents mostly related to snake-arms technology? ISRG wouldn't care to have them.