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Love the new videos. SPORT looks increasingly adept at all manner of surgical procedures, and the on camera feedback from the surgeons has been genuine.
I look forward to the call next week, especially Dr Estape’s feedback. Someone should ask the management team to contrast SPORT with davinci Sp and the Medrobotics device.
No PR, but they did post an updated investor presentation this morning, so perhaps something interesting might happen this week:
https://titanmedicalinc.com/wp-content/uploads/2018/01/Titan-Medical-Investor-Presentation-January-2018-.pdf
I don't have time today to parse the presentation for changes, but perhaps someone else here does.
Now would be a good time for the uplist. The downward momentum of the other company places their institutional investors in a position where a new surgical robotics growth stock with upward momentum would be very attractive to them. Hopefully this happens in early 2018.
Meanwhile, the other company sold their star technology to some no-name company in China for pennies on the dollar, and their stock is up?
New interview. David is certainly excited and thrilled...
https://www.midasletter.com/2017/12/podcast-titan-medical-ceo-david-mcnally-prototyping-robotic-technologies/
If you're going to go to Javier's, I recommend the one on the Newport Coast over the one at the Spectrum. Delightful ambiance, excellent service, and the margaritas will have you buying another 100k shares of TMD before you finish the second one.
I completely agree...they have what they need to go the distance. My earlier message was in response to another poster who asserted that Titan will go bankrupt. My reply was to point out that they cannot go bankrupt unless they are indebted to someone, which to "The Rock's" credit they aren't.
Yes, I read the termination of the CU license as meaning we no longer owe Columbia a per unit royalty.
Running out of cash is certainly a possibility (we've flirted with that end game a few times already). But bankruptcy is not in the cards since Titan is indebted to no one. They could just sit on their granted patents and license them ("Flexible robotic arm with moveable shapers" or "Roll-wrist mechanism" for example)
Suckitup...there was no conflict with Columbia with regard to the trial. They exited the licensing agreement because said agreement is now irrelevant to the commercialization of SPORT.
It's all in the patents.
Did you notice in the recent prospectus that they're using the money to complete the clinical runs, to finish the SPORT software, and (as a stretch goal) to validate their simulation software and its ability to summatively assess if a surgeon is properly trained to use SPORT in the OR.
The thing that intrigues me is that ALL of the elements necessary to bring SPORT to market are now in motion. Nothing is "planned for next year"...it's all in progress *now*
I predict the RS will end up being between 10-1 and 5-1. The strength of the current offering and the prospect of being almost fully funded now suggests to me that we will organically rise above $1 as we hit the upcoming milestones.
The fact that the last couple of raises have been uprounds bodes well for the strength of the stock. That's something the Board didn't have going for them when we voted for the RS.
Above $1, a smaller RS gets us in line with NASDAQ listing requirements. Instead of uplisting because our backs are up against a wall, Mac can now uplist when we have 510k in hand...the perfect storm for a NASDAQ IPO.
Happy Thanksgiving ladies and gents.
We have a lot to be thankful for:
- Real surgeons went hands on with SPORT this year and proclaimed that this is a game changer.
- Three of the best facilities in the world opted to participate in trials of SPORT.
- When they put metal to swine, we saw that SPORT can do everything laparoscopists can do straight stick or with a multi-port robot...but through a single incision.
- We saw warrant holders falling over themselves to take profits and fund the company.
- And lastly, our most recent upsized offering, if maxed out, will generate over $50MCAD of the $70M CAD McNally says we need to go the distance (assuming all the $0.60 warrants get exercised). The rest should come from exercise of existing warrants, which means we are essentially fully funded to get to FDA without a pressing need for the RS.
Yes, we have a lot to be thankful for. This is our year. This is finally our time. Let's get this thing over the finish line and into ORs!
As in the case of yesterday, I'm speechless with this development. I'll reserve judgement until I see how this gets priced.
Speechless :)
As it turns out, we don't need Columbia University to move forward with SPORT. It's all in the patents.
Even though the IREP license is no longer necessary, its obvious that the relationship between CUMC and Titan is strong since they ended up placing one of the pre clinical SPORTS at the Vagelos Simulation Center....
"Completed first of preclinical studies in Q3, additional studies scheduled for Q4 Correspondence with FDA and European Notified Body has been initiated"
Page 9
...it's usually after the market closes.
Titan confirmed it'll be today, but
Q3 results today.
Something interesting seems to be brewing next week. First Titan schedules this mysterious call for Monday, and then November 17, 2017 $8 call options for TRXC heat up...
https://finance.yahoo.com/news/options-traders-betting-big-move-133701963.html
Favorite theories for Monday (all wild guesses):
- Partnership with a big player
- Partnership with Transenterix
- Sold a system in an unregulated locale
- Accelerated plan for 510k or EC mark
- Sold the company and need shareholder approval.
Then why not just PR a 3rd quarter conference call? Why the very specific wording regarding a "product update"?
When your directors buy a ton of stock, followed by a bunch of doctors, and then the company announces a "product update", that's probably a good thing!
It's fixed now
New SEC filing regarding the recent insider action:
https://disclosurequest.com/form/titan-medical-inc/0001062993-17-004621/?returnURL=
NASDAQ offers several different avenues through which a stock can be listed, some of which require zero revenue from operations. Please see https://listingcenter.nasdaq.com/assets/initialguide.pdf
TRXC CEO Todd Pope had a pre-planned sell set up that resulted in a huge chunk of his holdings being sold when the PPS popped after their FDA approval. Though it was pre planned and triggered automatically, the optics looked bad because it made it look like he was making a quick buck now instead of waiting for even more appreciation in the PPS.
Correction to my post last night. Bernholtz added 500k shares, not 1.9M. His total holdings now amount to 1.9M shares.
That's what I get for posting half-asleep. Sorry guys!
Still, 500k shares is nothing to sneeze at!
Hallelujah...we now have $10M with which we can get through finishing software development and run the clinical trials. And all without another shelf offering!
Smart for Titan to announce warrant exercise today too, since TRXC will probably do the same next week when their accelerated warrants expire on Tuesday.
The reason for the uptick today was a SEDI report indicating that one of our insiders, Martin Bernholtz, bought another 1.971M shares on the open market on October 20 (filed yesterday, reported today).
Nothing like a massive insider buy or a surgeon's nod of confidence to send this soaring...
ORrep8, I just came across a new article that talks about the behind-the-scenes manufacturing process for SPORT, and also indicates that there are five completed units floating around. Perhaps Mayo might end up getting one later?
https://interpromodels.com/interpro_blogs/kd-cast-urethane-case-study-the-titan-medical-patient-cart/
It makes sense that JBC is off of the SAB. Since Mayo didn't make the cut as one of the clinical trial sites, there isn't much more she can add to the conversation at this point. The only meaningful feedback will come from the surgeons at Florida Hospital, Columbia, and IHU who will be hands-on during the trials. I'd expect to see some additional tweaks to the SAB going forward.
Dr. Advincula was one of daVinci's early adopters, and has essentially been Intuitive's top robotic gyn surgeon for the past 10 years. It's certainly interesting that he's getting behind a new robot, and very interesting that his financial benefits from Intuitive dropped significantly last year when he started playing a bigger role on the Titan SAB.
I'm finally back in the green. Cost basis is .34
TWO million in seven minutes?!?! Am I dreaming this?
Go SPORT!
Thank you JUrology and Scalpel for leading the way forward.
One million shares in FOUR MINUTES. Holy moly!
My hat's off to whomever planned the current PR sequence around the TRXC approval. What a great way to get eyeballs back on this thing.