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Valid question. Honestly, not sure. Perhaps, they are waiting to make a big announcement further down the road (closer to release) so there is no time lapse which could give the stock time to move down. Once up listed, you need to stay above water. I have seen companies misjudge the market and time it terribly, never to be seen again, then I have seen some time it perfectly along with execution. The bottom line, some companies who have may had a chance to get to market and make an impact never really had a great mousetrap to begin with and also failed to execute. I believe Titan is well poised for the market where there is only one really true competitor. This product has all the markings of a winner. My only concern and it always has been, did they bring in the right guy for the end game. Sell it or go it alone. Either way, I don't think you can screw this one up. It will go higher. How much depends on the ability of the guys in charge.
Correct me if I am wrong, I believe the other company starting with a T is further along and closer to release. If that is the case, I can see more investors expecting a pop upon approval. Also, being further along, they are up listed providing them more exposure. I agree that their system is inferior and I believe it will fail miserably. Not everyone is as sophisticated as this board. If they were, everyone would be rich. People mostly make poor choices. We have come a long way in a short period of time meeting milestones. Once we jump thru a few more hoops and a little more time has expired, we will move to the next level. I am not sure if this makes you fell better or not. On another point, I am not worried about people leaving. As I have stated, I am concerned about Hargrove's ability to execute . He comes from a World full of established and complacent people. Start ups and VC people are another breed. I believe the product to be too good to screw up. It has to take its course and time is always a difficult factor to struggle through, especially when we are personally invested.
The only thing I saw were the videos of each units. The articulation appeared better, but I agree, you need it in your hands. The camera is 1080p, pretty good I would imagine. Another competitor will make it to market and I can't believe TRXC is the answer. The smaller hospitals that don't invest in robotics because of costs whether it be cost or the types of procedures, I would think are a good target. Any thoughts on how disposables would be impacted going forward with ACA taking hold?
Purchasing the disposables clearly needs to be considered in the equation more so than ever.
Thoughts?
Interesting points of view. I would like to hear from others on their patents in any detail that can be provided. Also, to the surgeons, what I noticed to be different was the articulation movements of Sport vs. ISRG's.
Better reach around and no arms crossing over. Also, first versions of any product and a little crude. I believe Sport, as they come to market will be more refined.
Lastly, my concern has been how they will enter the market. Start with small sales force and expand or try to partner. Partnering can alleviate some costs, but you give up some control in doing so.
Great story and yet it is also sad. I wish you and your family the best of luck. There may be many on this board, probably all of us with not that kind of risk. I could not imagine going all in regardless of how much or how little one has. I will say, I feel you will be rewarded handsomely. I know a little about start ups and there are very few that have this feel for success. My hope is that management reads these stories from time to time and take note of your post. That will assuredly keep them up at night and focused on executing this thing to the fullest.
Best of luck to all and Titan.
I believe it is 2-3 years,but it is all speculative until we know their full intent of how they plan to enter the market. A reverse split will never happen. Look at Points interaction with the board meeting when asked about the possibility. Not that it matters, as they closer to release, I will be at the next board meeting monitoring my investment.
It is inevitable that they will be sued. If you put up strong numbers quickly, cash comes in and value accelerates. Intuitive will definitely go after a threat. If our IP is strong and we make a huge impact, our PPS will catapult. Start ups are all about maximizing value quickly. This is worth 18-24 easy. It could be worth twice that with execution. They have the cash to go it alone. European approval will give us some insight as their intent. On another note, if this is my technology, I interview and hire someone who can maximize my investment and dream. Hargrove may not be a spring chicken, but he had better be looking for a big finish. I wouldn't hire someone who wanted to sell my dream quickly nor cheaply.
If you are truly a venture capitalist, roll the dice. This is a home run. Hire the people in the upcoming months to execute a strategy for acquisition. If you put any meaningful numbers on the board and are going it alone, your payout at the end will be huge. First, do you believe this is a viable technology and a product (second in this arena) that can compete? Take market share and more importantly, expand this market. If robotics are truly the future, why not embrace Titan? Do we have people in place that can put together a team and execute? Maximize all our investments. If someone is going to take this to the next level, why not Titan itself?
Agreed.Why would you give away the fountain of youth for short term gains. This is a home run. Execute and maximize everyone's investment. These guys can retire comfortably or retire never looking at the price of anything.
Pretty good perspective.
The market cap is up due to the IP. once upon a time, you could sell any idea. Then, you needed to build it. Then , could it get approval and lastly, can you generate revenue (sell it) and take market share. The question still remains, do these guys go long and retire us all all, or do they sell out based on a short term mentality?
sales team not 'slew"
Any news as to why this guy was really let go? Do you think for a possible Director of Sales? And, what would a slew team look like? Still a ways to go but no mention of how they will take on the market. A dedicated sales force would and will get sales generated much quicker and make the PPS move.
I would think some kind of news would be out if that were true. It sounds like the licensing of the two would account for the missing two. Still 12 apps filed?
Have the patent apps for 12 changed? IP is very relevant to this market segment. Can patents be revoked or challenged without lawsuits after being issued?
I'm even laughing
Good question.Non competes are usually written very general. Not too specific, because lawyers will be able to spin it to their advantage. I have not seen robotic non competes. I can only assume based on experience that they wrote them for general and broad reaching to the robotic field as a whole. If Titan is moving forward, I am sure or at least hope that they have looked at this. As stated before, my biggest concern is having Hargrove coming in from a commodity organization. I know he is good. He needs to be better than good. I hope he realizes they values of a sales rep that is geared for the environment he has entered into. I don't know the man, but hopefully he has that insight or belief. You very rarely can take a good sales rep out of a commodity sale and put them into this type of environment. Good discussion.
Each state is different. Selling in the USA, non compete's are enforced. I know California is an exemption. There are several blue states that won't enforce. Unfortunately, there are very few. The good news is, getting a start up mentality is key and there are a number of people to fill that role. Having the robotic experience is a plus. I just hope that management realizes that value.
A little thing called non compete will play a role. We all sign them. ISRG has that as well. Unless these guys have been sitting out for at least a year, you will need others to fill out your sales force. In the device World, you cannot move freely from one company/similar product easily.
Agreed. hiring a sales force is as important as all the other components we have been discussing thus far. Your person that represents Titan will undoubtedly be versed on the procedures and how robotics will benefit the patient and customer. I also might add that a rep with start up and VC experience is a different breed from commodity sales. ISRG was smart to recognize that as well as other successful start ups. Commodity based sales reps inherit a book of business; they maintain and grow existing market share while introducing new versions of products along the way. Nothing wrong with that. A start up mentally is a risk taker that starts with no dollars in the area; just connections, successful track record and a desire to win. Any thoughts. i like to try and keep my comments short. Very impatient at times.
One additional point, Titan will not only take on and compete for some of Titan's market share, they will also increase the overall market due to the fact the number of hospitals that are looking for an economical way to enter the market with robotics. smaller hospitals will not compete on the high end complex surgical cases, but ill be able to market a Titan robotics as an alternative for many general surgical procedures. still need a sales force that can sell and support those hospitals that will be new to robotics.
To take on ISRG, we will need a dedicated sales force that can create awareness, drive technology and innovation as well as address any concerns or questions from the customer on a daily basis. Breaking into ISGR's market will be a challenge. Being able to show commitment, desire and support for a new company will be expected from hospitals. I have not heard of any discussion regarding representation in Europe let alone USA. In my experience, most sales force personal are brought on in stages with timing in respect of market release. Has anyone heard of or had any discussions as to how Titan will sell entering this market?
Agreed. The volume is continuing to be strong. Percentage wise, this stock has moved a lot over the past week. People will take profits. I predict we will not drop as low as a few weeks ago. We may dip under 2 or hold just above. I would look to add to my position at those points.
As stated before, a reverse split is the kiss of death. If you have to manipulate the share price to achieve your goals, then your product is deeply flawed and suspect. Titan will do it own it's own timeline. This will go, be patient.
It appears that we are still on schedule. Good news on the tissue testing. CE mark towards the end of the year would allow selling in the first quarter of 2015. If all goes well, Titan could be selling in the USA as planned (latter half of 2015).
As for the stock price, we have held in pretty well despite the anemic volume. The price appears to be stabilizing which to me would suggest most of the sellers are done. Buyers should start to return; having positive news, we should move higher here.
Well said. Can't value anything yet other than speculate on what the IP is worth. Revenue is King. Design it, build it, sell it. Hopefully a lot of building and selling.
Well said. I agree that the new and continual changes in Obama care and ACO's will challenge our health care system. We are moving towards socialized medicine. So, as technology will be restricted going forward, here is where I see Titan fitting in.
There system will be less expensive from a capital and disposable stanpoint. Will the pen to paper make it appealing enough to perform these surgeries. I also agree the untapped hospitals will be a nice fit for Titan. This will also expand the market. I also believe that many institutions paid for a high price robot to do complex cases as well some surgeries that could easily be done with a single port, more cost efficient system. Also, as large robots have been depreciated, they will be replaced. A scenerio could be, a large institution has 8 ISRG's. as they replace them, perhaps they integrate Titan as a more cost efficient approach and purchase 3-4 units and stay with 4 larger ISRG's.
There are a lot of scenarios, but I still agree their value proposition will need to be solid in today's world of healthcare. Everyone is looking at the bottom line. Outcomes and patient satisfaction, as you know, also plays into the equation.
These guys should be smart enough to know what they have. I don't believe they will sell in the single digits, unless they know they can't execute. I believe as you, FDA clearance will happen first; sales will be generated and market share will either be taken and or the market will grow as smaller hospitals invest in the future. No one wants to sell cheap then realize this might have been their only real shot to make it big. Opportunities like this are far and few for many to participate in. I say be patient until we get closer to years end and see what the stock and progress looks like. That is, if they post any progress.
Jet, nice summary. Good analysis.
Questions. 1 year from what trial? EU approval and FDA acceptance?
I agree with your assessment. TRXC is doomed. We need to sell something to make this move.
Market cap is 145 million. Nothing has been sold yet. Get it approved, build it, sell it. The needle will move North. It appears to be a viable product in which that market segment dreams for competition and addresses a market segment that has been raped by an over kill product such as ISRG. There are much simpler surgeries that Titan can address economically as well as hospitals that have been waiting for an alternative.
If a product, still not yet approved by the way, cannot make an impact in the market, where clearly competition is welcomed by investors and a need, a reverse split basically suggests that the product could not stand on its own. The outstanding shares are slightly high, but we have to believe that the product is sound. We will have better insight next week. Be patient. Good things never come easy.
Relax.
The 21st will give all of us some insight as to what Hargrove's capabilities are. Depending on how he handles Titan's position going forward; will either make us feel comfortable or really start to question what he is doing. This is a start up company with a corporate leader coming from an established industry and an established spread sheet. I for one believe if he surrounds himself with good advisors he can pull this off. At least I hope. It is a very viable product that will fill a necessary need in robotics. This would be hard to screw up. Do everything first class and don't cut corners .
TRXC reverse split is a sign of desperation. They have squandered shareholder money, burn rate out of control, have an inferior product and offered stock at a discounted rate that throws their supporters under the bus for a significant loss.
All I am saying is, JNJ people are very good at managing business. I hope he has the ability to see outside the box and execute. we will know soon. CUIN you have good insight, lets just hope and pray that the team can execute. Having a better mouse trap still demands being able to deliver on all fronts. The SPORT makes perfect sense and a fills a need in a very limited marketplace. They can go it alone and succeed. Bring on a sales ten that can deliver. Start up guys with VC experience and any competitive reps with no non competes.
stop with the reverse split discussion. that is the kiss of death. this stock will move. it is still early. stop with the impatience. if it was easy, everyone could do it. believe in your d/d and the fact that competition is inevitable. this stock will be all over the board. Pros are 1) need for competition, 2) fill a need for all hospitals at a financially acceptable price point, advanced technology as robotics moves forward (better mouse trap), concurs are 1) is the IP solid ?, lawsuits are inevitable, 2) can you manufacture at a high rate with quality control?, 3) can a JNJ guy pull off a start up? they are good business people, but can they step out of their box and work in unfamiliar territory? i believe the product is legit. it all comes down to execution.