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Not bad. We are up 47% on the day.
According to crunchbase, McNally landed $41M in investment for Domain Surgical in three rounds from just two investors. That's similar to the magnitude of financing that Titan needs to complete SPORT, so hopefully this will be the end of shelf offerings.
Looking forward to a more productive discussion here. Can I be a mod?
It may have been overlooked by some here, but they also put McNally on the Board of Directors.
Putting a face to the name:
https://www.crunchbase.com/person/david-j-mcnally#/entity
Titan's been updating some of the SPORT images on their web site over the past few days:
http://www.titanmedicalinc.com/technology/
Track changes by doing the following:
1. Go to google images
2. Enter the following search:
site:titanmedicalinc.com
3. Click Search Tools
4. Set the Time Option to One Week
A new patent application for the SPORT hand controller to kick off 2017:
https://worldwide.espacenet.com/publicationDetails/biblio?DB=worldwide.espacenet.com&II=0&ND=3&adjacent=true&locale=en_EP&FT=D&date=20161222&CC=WO&NR=2016201544A1&KC=A1
Which ticker are you watching? I only see 3780 shares purchased by insiders on 12/30.
Source?
No, we do know they've done cadaveric cases. See their press release from November 2015 here:
http://www.titanmedicalinc.com/titan-medical-inc-completes-first-successful-surgical-cadaver-studies-using-the-sport-surgical-system/
An insider (not sure who yet) bought some shares today on the open market. Go to https://m.canadianinsider.com/company?menu_tickersearch=TMD%20%7C%20Titan%20Medical and then select "Marker"
Not a huge buy (only about 11k shares), but the first insider buy we've seen for awhile.
Yes, I recently asked them to share an unedited case with us. Didn't get a response.
Agree. I, for one, would like to see them release an unedited cadaver case showing SPORT completing a nephrrctomy or hysterectomy from beginning to end.
I think there are a few people on the Titan BoD and at Ximedica who feel the same way. Not to mention Dennis Fowler.
I only hope the Board does something in 2017 to salvage as much as possible. I'm sitting on top of some pretty crazy red ink with this and would frankly be happy to just get back to break even.
Found the follow picture from the recent conference:
http://www.colorectalsurgery.eu/ecc2016-gallery?lightbox=dataItem-iwdl8ydr
A little underwhelming...just a poster and some chairs. No robot.
Transenterix has none of these things, yet they have a list of finds a mile long with large investments in the company. Think about it...two failed products, and a third one with a very questionable marketability, yet the dollars flow in. Why? They're on a legitimate exchange.
Titan apparently exhibited recently at ECC2016 in Switzerland. See page 14 of http://media.wix.com/ugd/fe838e_37ad2df980ce462291c9330fbec14cec.pdf
The simple difference between Transenterix getting funded vs Titan is the exchange they're listed on. Put Titan on a real exchange and hedge funds will drop money on it as nothing more than a new play on the robo-surgery space.
They could minimize share dilution by trading on an exchange where more investors would be able to invest in Titan. Getting on to a legit exchange and removing the taint of this being a penny stock will increase demand for shares and buoy the PPS.
I can confirm all of the points in Mic's post as being authentic, as I had almost the same conversation with Barker recently.
One thing I'd add is that Barker said that the Board is looking to minimize further shareholder dilution as much as possible, and to increase shareholder transparency. The only reason they're not saying more now is because the focus is on finding the new CEO and letting him or her shape the executive plan.
Best thing I took away from my chat with him was that the tech is in good shape, the stock is not, they know it, and the remaining Board is smart enough to know that they need to find the right person to lead the march toward commercialization.
Rocko, if there is an intellectual property issue regarding Davinci Sp, it's not between Intuitive and Titan. It'd actually be between Intuitive and Columbia University, which is the institution that exclusively licensed the IREP snake arm technology (and associated patents) to Titan Medical.
I took a quick look at Columbia's IRS form 990, and they currently have $14,639,477,138.00 of assets at their disposal, making them well matched against Intuitive from a litigation standpoint.
A small mention of Titan in Scientific American:
https://www.scientificamerican.com/article/new-surgical-robots-may-get-a-boost-in-operating-rooms/
The Q3 MD&A clearly called it $5M for software dev.
The Investor Presentation on Titan's web site was updated today:
http://www.titanmedicalinc.com/wp-content/uploads/2016/12/Titan-Medical-Investor-Presentation-November-17-2016-1.pdf
Pontiac...in my opinion, it's hard to play the market reaction to politics. The market was melting down at the idea of a Trump presidency before the election, yet its hit all time highs since he became PEOTUS.
Still here CUIN2 (and still holding the same shares). Just waiting to see what actions come from the investor letter sent recently (new CEO selection...new Director of Engineering, updated timeline, etc).
Q3 results just went out.
And we are back in positive territory
What's Dr Fowler up to? He's been adding dozens of new connections on LinkedIn to people like bankers, VCs, IP attorneys, and heads of robotic surgery programs. Seems pretty active for someone who just retired.
Hope somebody comes along today and buys a big block to drive the price above 40 to get us into technical bull territory.
These MMs are really fighting the 50day MA. Let's get above .41 already.
Thanks for sharing.
That article give me an idea. They should release a video of SPORT removing all of the parts from an Operation board without setting off the buzzer ;)
150 shares finally traded on TSX at 11:16am...which is odd because the TSX typically trades in round lots. Not sure what's going on.
Bristol, here is the patent for one of Titan's key components with Reiza's name on it:
http://patents.justia.com/patent/9033998
Don't forget, we will have to hear something from them by November 15 for their Q3 performance report.
No diagrams yet...I'm sure they're coming.
Robert is the Mechanical Engineering Manager from Ximedica:
http://www.ximedica.com/people