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quick glance it looks like TRXC needs a lot more money, renegotiated terms and credit limits with the Lender and offered up almost everything they own as collateral.
April 24, 2017 is the key date - this will remain in limbo until that time
no verb-titan connection
Verb-Titan connection
Another patent for Titan, I believe trxc has zero
Kinda like going down with the trxc ship
Alf-X...sorry Seahence is DOA - no way hospitals will give up that much OR Space - that thing will clog up the flow in an OR room
Paul L bought out Ximedica b/c he realized that he was losing a ton on TRXC - he observed how much TRXC botched bringing a basic robot assisted laparoscopic platform to market and saw the immense value that Ximedica brought to medical device design.
or they are negotiating a partnership, that would help the PPS to rise.
Doesn't Senhance mean "piece of crap"?
Thanks, interesting they have money for this ( probably cost some coin), wouldn't be surprised to find out their potential partner helped cover the cost of this
The upcoming conference where SPORT will be show and discussed in a physician presentation tells me the following:
1. It's been used quite a bit at this prominent facility by this prominent physician
2. SPORT can perform all the necessary tasks required of a surgical robotics platform
3. They have started the CE process
4. They are done with the design
Great point
Must be very close to CE mark
Don't think so, why the gap in employment then?
Common knowledge based off of the info out there
Leon left bc he was bought out, Talarico was let go bc they didn't need a full time employee dedicated to biz development bc it was decided that they were going partner w a bigtime company.
Fowler gets big payout w platform imaging
JnJ will also be showing their robot by year end - there's will be different than VERB's (did anyone really think that JnJ will not grab the capital, instrument and service revenue - they weren't just going to let another entity have it). The JnJ robot will run the Verb Operating System - that is a given.
It was Dr. Doctor
Here's a fact - TRXC was at $14/share just over a year ago.
They made changes to the foot pedals about 2-3 months ago (had to come from Fowler) - that change means cost/expense go up and a ton of downstream changes to documentation required for regulatory approval. So we know that the pursuit of perfection (really foot pedals) was hanging over completion.
It's possible that Fowler signed a two year agreement with Titan when he was given the Executive title. Part of the agreement could have included the Options agreement with Platform Imaging. It's been two years and all the work he needed to get done was complete. Time to move on.
Or an old man trying to return soup at a deli.
The leverage they have is a operational, functional, surgical robotic platform that addresses and included one of the top priorities required by the FDA - Human Factors Engineering. They have patents and IP protection, they have done all the R&D, Development and integration (took them over 6+ years).
Big Companies have a value they apply to the innovative work done by companies just like Titan that take a concept thru design and development to approval. That value fluctuates depending on the market opportunity and competitive marketplace.
She just took over talaricos role and one sales person is very far from building an infrastructure required to go it alone.
I never bought into the theory they were going alone, none of their actions (raises, etc) gave me reason to think they decided to go alone. I honestly feel that the expenses got out of hand bc of constant tweaking of the platform and that is where they got bit. I think this has actually moved things up and we will see some important news soon. Wouldn't be surprised to see an announcement of CE submittal by late October, November. Remember they have already completed audit for CE submittal.
I never thought they were going alone. If I had, I would't have invested in the company until they got FDA approval and put together the infrastructure to handle sales, marketing, distribution, clinical, service etc.
I invested bc they will either partner or be bought out. I'm even more convinced that this is their plan of action and it will happen by q1 2017. I believe JNJ partners w Titan (think Medtronic/mazor).
I'm not worried about FDA, ximedica has this covered and it wasn't half assed like TRXC. Ximedica just needs to make sure we are done tinkering with the robot so they can complete all the paperwork and submit the required documentation. When u change the foot pedals, you have to redo all the work that needs to be done for CE and FDA approval.
That's why they will partner w a JNJ
Wasn't that other company close to fda approval 4 months ago and the fda sent them back to the drawing board. They still don't have a predicate device which means they are 12-15 months away from approval.
Razor/razor blade model as well as all the service contract revenue. To provide context, ISRG makes almost 70% of their revenue from these two revenue streams. That is where the money is, it's not in the robot itself.
Interesting that Verb posted a similar job that is now open for Titan
he gets paid b/c they use Platform imaging for the pan and tilt camera - Fowler will end up making the most of any of the executive team in the end.
I agree
you got burned by the warrants (bad investment by you), i think you pump and dump. Your post remind me of a Bill Murray quote: "It’s hard to win an argument with a smart person, but it’s damn near impossible to win an argument with a stupid person."
food for thought for the board:
Fowler is one of the main reasons I've invested in Titan - brilliant thought leader in this arena, IREP technology, snake arm technology etc so he gave credibility to my investment. At first I was stunned that he resigned but like any good investor, can't react to the info (too late at that point) and gave myself some time to digest it. Even though Fowler is brilliant, it doesn't always mean he is right. I could see a scenario where he kept wanting to tweak SPORT to make it perfect (some of the board have alluded to the pursuit of perfection) and every time he did that, it meant a ton of work downstream for Ximedica to get this ready for regulatory. Every little change now (like foot pedals) means another how set of changes has to be made to the filing process for CE/FDA etc. Also, every tweak that has to be made and every change to the regulatory process involves adding cost and expenses. IMO, i think Ximedica said enough, this is ready for submittal but we can't keep tweaking it b/c it continues to delay the process and increase expense. Their only option to force change was to suspend manufacturing, which they did and it resulted in Fowler resigning today. Now, Fowler still brings tremendous credibility to the product and I could see if JnJ/Verb were to buy/partner with Titan, the only one of the mgmt they would want to have would be Fowler. Hence, all the others get the options b/c this is the end for them and Fowler will get a "consultant" gig with Verb/JnJ or actually be employed by them while getting a big piece of the Verb IPO. He is also going to get paid off the Platform Imaging part of SPORT.
Also, IMO Verb is going to be the biggest player in robotic surgery and dwarf Intuitive in 5-10 years - I believe Verb will buy up technology as they go along and bring Fowler in to oversee the Clinical education of the marketplace (incorporating the other technology they acquire along the way). It makes complete sense to me since the IREP technology can be implemented to have multi quadrant, single port and the future micro robotic surgery (think Fredrick Nahon presenation).
With all this being said, I'm like everyone else and don't know but that is what I have concluded after digesting all the information and applying it to everything else I've researched.
1 cent left with Fowler today, that's not a lot of money
Highly doubt that
Thanks, I got them.
Also, there is a company called the Mullings Group that is the primary recruiter for Verb Surgical. Titan announced that they have initiated a search for a new Regulatory person. This job was posted a day ago by the Mullings group:
Job description
Senior Regulatory Affairs Role
This role will be breaking new ground in the Digital Surgery realm of medical devices. Verb Surgical is developing a massive surgical robotic platform that includes unique system development in the areas of imaging, patient positioning, human computer interaction, surgical robotics and data analytics. This regulatory role will be part of the team developing, gathering and organizing the information and evidence with internal partners as well as external partners as we build our 510(k) and Technical Files (CE Mark) to obtain regulatory clearances / approvals for new products in a very exciting market.
The ability to collaborate, investigate, write and lead is critical as you role will have you working closely with product development, clinical engineering, manufacturing and suppliers/partners. Individuals should have 5+ years experience in Regulatory Affairs, experience with submitting 510(k) and tech files, experience setting up MDR processes and have a BS in Engineering or equivalent.
Found this to be very interesting
In the PR it says they have initiated a search for a regulatory person.