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Although not nearly as exciting as our new surgeon-investor overlords, a new patent app was published Friday:
https://worldwide.espacenet.com/publicationDetails/biblio?DB=worldwide.espacenet.com&II=0&ND=3&adjacent=true&locale=en_EP&FT=D&date=20171019&CC=WO&NR=2017177309A1&KC=A1
Great news on the private placement, led by investor surgeons who have frequented this board, no less!
Best part is that this round was an up round! No more 10 cent raises!
Example of a $3B valuation w/o sales:
https://www.google.com/amp/s/amp.businessinsider.com/facebook-actually-paid-3-billion-for-oculus-vr-2017-1
I would like to see us sell at a $2B valuation post 510k. That puts the PPS at just under 10 bucks. I'd settle for an earlier buyout at 6-7, which would still make my 5+ year affair with Titan well worth the time.
Is it still the case that their next MD&A should be released next week? I think they get 45 days to release quarterly results after the end of the quarter, if I'm not mistaken.
How do you know all of this? What is your source?
Florida Hospital Nicholson Center
Our world-renowned @Florida Hospital physicians, Vipul Patel, MD and Eduardo Parra-Davila, MD tested out the feasibility of @Titan Medical Inc's SPORT System through single port abdominal robotic surgery last week at our facility. Both physicians found this system to be a valuable tool in their surgical disciplines. Read more: https://lnkd.in/eGhnR4m
Florida Hospital is talking up SPORT on LinkedIn again this morning, this time saying their surgeons find SPORT to be surgically valuable...
A great breakdown showing how Titan has been able to develop a game changer for an absolute bargain:
http://surgrob.blogspot.com/2017/08/funding-of-surgical-robotics-projects.html
Canadian Insider is showing an insider buy yesterday (9/28), though it seems like they only bought 2500 shares? I hope that's a typo! Look in the "Marker" tab to find it (login required)
DRG1025...it's good that we're heating up slowly. I like the action where we are up 15% midday and then close up 6-7%. This is allowing a strong foundation to be built as we head upstairs. It's also good to see that we're making these moves on huge volume instead of flimsy action.
I think news on the uplist, R/S, and/or financing will need to come fairly soon. Titan is due to report on Q3 by 10/15, and they're not going to want to follow up all of this good news with bad news that they're out of capital.
Though I'm skeptical of Suckitup's ALL CAPS ramblings, I think he's right that we're going to get some more news next week....this time on the $$$ front....
I had a chat with Hargrove a couple of years ago, and he explained how Titan will innovate on the disposable/reusable front.
When a hospital or ASC buys SPORT, the capital expenditure is for the surgeon cart and the patient cart. The system will also come with several sets of snake arms, which can be used repeatedly. During each case, the arms will be covered completely by a shrink-wrap material (as we saw in the recent video), all the way up to the end effector.
The end effectors will be new for each case, and are actually interchangeable mid-case (a technology for which we saw a recent patent application). At the end of each case, the end effectors are thrown out, but the articulating arms can be processed for another case by removing the shrink wrap sleeve and sterilizing the arms. Key to all of this is that each hospital will have multiple sets of arms so that they can get through multiple cases without having to wait for the arms to be sterilized.
At the time I spoke with Hargrove, he said they were still working to understand how many cases the articulating arms can endure before being replaced, but said it could end up being anywhere between 15 and 50 cases (the clinical and bench data will determine what's reasonable). This model of reposable arms and disposable effectors is key to their revenue generation model (the "razor/razorblade" model)
Again, take this with a grain of salt since the conversation was a couple of years ago. For all I know, they figured out a way between then and now to make the arms more cheaply so that they can be completely disposable, or perhaps they've learned how to make the arms last for 100 cases....
I can't believe 10% of the float traded today. FINALLY!
The company reports on warrants exercised during the previous quarter when they release the quarterly report.
Warrants from this year's offering are all well into the money this morning. If fully exercised, an additional $12m for the Company, and an instant $7M for the investors exercising the warrants. Let's go Titan. Get 'em exercised!
BKT, it won't be hard to spot the building it's in:
http://www.archdaily.com/793971/roy-and-diana-vagelos-education-center-diller-scofidio-plus-renfro
Amazing that one share of ISRG buys 5000 shares of TMD. Seems like a worthwhile hedge for Intuitive shareholders....
As of this afternoon, Titan has around $11.9M of warrants that are in the money with a ~20% cushion. I sincerely hope that they aggressively lobby the small number of investors holding these to exercise.
The earlier videos were done by Valvo...he's no slouch...
Question for the OR minded people on the board… Is it me, or does the dexterity of the device seems way better than in the previous videos?
Wahooo! Nice opening!
LinkedIn just informed me that news stories about SPORT's installation at Nicholson are trending at Intuitive Surgical =P
Florida Hospital Nicholson Center
We are grateful for the opportunity to work with partners like Titan Medical. Today we are installing the world's first Sport Surgical System at our facility!
Check out Florida Hospital's LinkedIn. They are busy hyping up the SPORT install...
cptjsd, keep in mind that the four most recent warrants issued by Titan are not listed and are not tradeable. The only way the people holding these make money is if they eventually are in the money. They'd exercise the warrant and then sell the resulting share for a profit.
http://www.titanmedicalinc.com/wp-content/uploads/2016/06/TITAN-MEDICAL-INC-WARRANTS-July-31-2017.pdf
I am! Still long and strong....
Now at 4.77 split adjusted...
Moving to Nasdaq would be great, but I'd rather see Titan go from an OTC nanocap to an Amex micrcocap where it can raise money from Wall St instead of from retail investors and mysterious entities like Longtai.
I think we've been barking up the wrong tree talking about a NASDAQ uplisting. Check out the Amex alternative listing requirements here:
http://smallbusiness.findlaw.com/business-finances/markets-and-listing-requirements.html
Assuming a 30-1 RS, we've been well above $3 split adjusted for awhile now, and we also have the market cap to support an Amex listing.
I have a prediction which I can't yet support with facts… Part of the requirements for moving over to a different exchange is to not have shares on offer for sale on any other exchange. I believe that the reason why they removed the shelf offering was so they could uplist on to another exchange. The next raise will not be on the OTC IMHO...
ST, for a validation trial in porcine models and human cadavers, the units shipped to Nicholson and ICU should be commercial-fidelity units. The point of the study is to show that the platform, as developed, can be safely and effectively used in the surgical indications that they're going for, and to publish the results for the world to see in a scientific journal.
The only reason that the design would change after the upcoming clinical runs is that some major usability or safety issue was uncovered that needs to be fixed. As much as we scream for design freeze around here, the company can't freeze the design until they get through this next phase of testing. That's just how the validation process works. If Titan eschewed best practices and announced a design freeze pre-trial, it would jeopardize getting 510k approval.
Nicholson Center is 60+ miles inland from the East Coast of Florida. They'll be fine.
How about an unboxong/uncrating photo at Nicholson? That'd certainly build some buzz...
TRXC is about to put another 62.5M shares on the bar-bee....
http://www.massdevice.com/transenterix-inks-sales-agreement-offer-50m-stock/
I think TRXCs recent run-up might have been a short squeeze.
Yeah, but .111 to .115 sounds much better when stated as a move from 3.33 to 3.45 (post 30-1)
The Longtai transaction is now up on SEDI