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Also used to think the sky was the limit. Started buying in at 2, and told myself to get out if it ever hit 1.
I never did, and in fact have only bought more on my way down, doubling my position yesterday.
Maybe I should have stuck to the plan of selling at 1, but it bothered me that this washout of retail investors, losing money, while the big guns make the money, is a story that keeps repeating itself. We'll find out...
This whole thing is about financing and confidence IMO. If those are taken care of, we should be up by a lot in the next few years. But I certainly will take profits as soon as I can, and switch to options with some of those profits to stay in the game over time if they do start selling a lot.
Lol...that was what I was thinking..best case scenario 20...pre or post RS?
20 pre RS would compare to 600 post RS with a split 30:1. Hard to imagine...and just shows how far we've sunk.
Right now, the numbers don't add up, and we need to get out of this hole...
Whatever it was, something came to a head. I certainly don't think the rupture between Xi and Titan was about money, becuse they would not have restarted otherwise with the little money available now. It had to have something to do with the partnership not working due to irrealistic demands and probably clashes in personality.
What is telling in this regard was the recent press release starting with" "...the Company and its principal development partner, Ximedica LLC have reached agreement on the initiation of an acceptable development plan for the SPORT™ Surgical System. "
In other words, simple logic dictates there was something that Xi considered unacceptable in the past in terms of the development. That can't just have been "pay us for 6 months in advance" even though that may have been the cover to give TITXF management the opportunity to blow up for the better.
Rather, it sounds like they were fed up with whoever from Titan was giving them orders on what to do in terms of development, and that person was responsible for the delay and had no choice but to resign with all those who previously supported him now following.
Xi runs the show here, and frankly, I don't mind at all until we got something better. The fact that it is possible for a contractor to have more power speaks both the investment of Xi in SPORT and their willingness to see it through (good thing) and the weakness of Titan management (bad thing). But...at least someone cares....
Checking in again after a long vacation from the board.
Glad to see some news that Titan made a beginning to crawl out of the hole it dug for itself. Still fully invested probably thanks to me not visiting here too often. But thanks to the investor activists here and the letters that have been send to management.
I think it has become crystal clear there was something seriously wrong with management, and the road seems clearer to resolve the remaining problems there. I expect it will be a prolonged long climb up in terms of PPS, but the worst hopefully behind us.
Never held a stock requiring this much patience and belief in the product. GLTA
Irregardless...it produced a better product than 200 executives and engineers under the same roof like the Surgibot. Regardless, I agree we need a more serious management team and central office.
Irregardless, notwithstanding and nonetheless...a decent bounce today.
Long time member but stopped visiting and have not watched my investment in Titan too closely. It does wonders for one's peace of mind.
The latest developments are disconcerting, but I remain invested with some level of belief that the company might be able to pass this hurdle and come out stronger in the end. I mean "company" there. Management needs to go and make way for some real business people.
Over and out. I'm back to peace of mind. GL to all.
In that context, this phrase from the MD&A stands out:
"Other factors that impacted the change in our timeline include Titan’s participation in a two day demo in New York City for the investment community and exhibiting at SAGES and AORN conferences in March and early April."
The whole Verb narrative with Titan makes sense to me, given recent interviews and their focus on being less about being a new robotic device, but transcending it with a platform that would be applicable to all sort of robotic medical devices.
Yet, a robotical device would still be needed to advertise such a platform, and clearly it won't be dependent on ISRG devices. I cannot think of many others except for SPORT to do so.It would be ideally suited for such a purpose, and Fowler has alluded to it almost ad infinitum to it in the past...software..software..software...
And...the whole timeline of Verb is getting in line with Titan lately..although that is a bit bittersweet...but I can't help but notice...
I have to agree, and feel bolstered in that opinion that despite the low PPS, the market is just not that smart, as evidenced by recent events with TRXC. On the other hand, almost on these boards were right about that company, so I go with the general intuition and gut on this particular board. We all might be fools, but certainly lesser fools than a lot of the so-called "smart money."
The Longtai deal was still mentioned in the recently filed M&A.
Frankly, I was almost hoping it would not be there, given the recent news on a global manufacturer and supplier with global reach. A J&J would want to take care of distribution themselves, or at least through their own distribution network but Titan management may still be holding the reigns in that department.
In any case, it's still there in the M&A, so I assume it will either be belated news release as usual, or something that is scrapped. I'm pretty much okay with either given the above.
Some big buy orders coming in although no lift yet. Yet, certainly not going down so far. Digestion mode....
At least some news outlets are starting to see the implication. It won't be long I think before TITXF will be considered first in line to bring a new product to the market under the shadow of Verb.
http://www.massdevice.com/fda-transenterix-not-meet-criteria-substantial-equivalence/
Interesting from the point of view that Titan is still ignored:
http://www.fool.com/investing/general/2016/04/20/3-reasons-why-intuitive-surgicals-shares-soared-25.aspx
I'm not worried there. Don't forget equivalence refers to both operation and safety. It has already been known for a while that the FDA is not happy with how this space is developing, and increasingly concerned about patient safety. In terms of operation, obviously the Surgibot does not operate as Da Vinci. It's not even a robot. In terms of safety, I'll leave that to the surgeons out here to assess, and the comments already received on how difficult it was to move that thing around with the kid toy knobs.
In my opinion, the FDA just put the breaks on a company they considered the worst offender on both these points as a warning to all in the industry, but I do not think this will affect Titan, or is in any way directed at them.
Titan has a very highly qualified professional board, and Fowler at the foreground of patient safety in surgical robotics nationwide. Safety has always been the highest priority. In terms of operation, SPORT is not only equivalent. There is a strong case it will perform better.
This is why Titan has the FDAs respect and why they wanted input from them. In fact, such input from respectable companies is probably exactly why TRXC did not receive approval. The company is dead, gone, bye bye LTG...you were dead wrong.
Difficult to imagine an immediate bump from the many average investors who got burned with TRXC. I doubt they are thinking about investing in another medical robotics right now. I would be in the toilet throwing up in their position.
But, it makes Titan management and the company look pretty good in comparison, not the mention the robot, so it certainly won't hurt. Also, I imagine this must have quite an impact throughout the industry, also among boards and institutional investors. Not sure how far or where that carries, but again, can't be bad for Titan.
Mostly I'm just happy that virtually all the posters and those who recently saw the robots are informed investors and specialists. It feels like the crap (incl. sketchy posters) is finally getting weeded out in this industry, and perhaps some more attention towards the real deal out there - SPORT.
It seems to be a move informed by a closer looking into and contacts regarding FDA procedures. They say that pretty clearly in the supplement. Not sure why not anticipated beforehand, but it appears they at least use it to their benefit and with appropriate planning in place with Ximedica at the forefront of that.
Same here...and I have never said that...nor am I crazy (or so I believe)
Yes, I find the supplement quite unclear in several areas. But given market reaction, my sense is that it is a positive development in the long run. A 100k and 40k block on the buy side right now.
More precisely put, they plan to spend a great deal of money over the next 3-4 months in Q2, and yet there are no milestones they are supposed to be working on in Q2. Either the milestones dates are misprinted, which is unlikely, or they have something else going on in Q2 that costs money and they are not ready to divulge.
It is slightly confusing that the in-human verification which was planned for Q2 is now stretched from Q3 2016 all the way to Q1 2017. The good part is that this development was engineered with Ximedica who have in-house specialists for FDA approval all the changes are based on that. But whatever happened to Q2? Also, the additional in-human units seem to have been scrapped. In fact, there no in-human units.
Little reaction in the market so far, so I guess they are taken it well. I guess the biggest take-away is that instead of 1 quarter, as it was previously, they are now giving themselves a lot more time to the in-human cadaver studies to get the info they need for the FDA application in Q1 2017. This is what essentially leads to the one quarter delay of everything else. All in all, when this offering is completed, we're really close to commercialization either way, with not a great deal more of money needed to get to commercialization outside of the US (11 million).
Quick reading of the new prospectus...highlights...
1)application of CE mark, FDA submission, and clinical trial delayed by a quarter. Commercialization outside US Q1 2017 and in US Q3 2017.
2) the five in-human units are now referred to as extended verification units (EEVs)which have been completed and will be used for optimization trials and cadaver studies in Q2 2016. Quote: The cadaver studies are expected to provide more comprehensive and higher quality information in a shorter time period and to have the potential to enable earlier regulatory submission to the FDA.
3) Money for 3-4 months if the offering is fully filled. Another 11 million still needed to operate till the end of 2016.
I would be interested to hear surgeons with experience with the FDA and clinical trials to comment on this.
But, if the FDA is going to demand a clinical trial for the Surgibot, it would not come as a big surprise to me. And I feel it would be a good decision as well...given patient safety as a priority and how little we know about that machine apart from paid consultants...
Agree. Very muted market reaction compared to what we're used to and that usually means good things. If you would have a patient with that chart, you would think they had flat-lined, yet volume was very high. Something is giving stability. I hope it is that financing may be in order soon, since that has been dark cloud hanging over this stock since November last year. Maybe it's something else we're average investors are not privy to. Either way, I got a pretty good feeling about this price action.
Curious to learn of the size of this offering.
If it's a smallish one, like previous, it should get them well on their way to the end of Q2 and CE Mark submission, which is not too bad, but double that, and we're almost there including clinical trials. That would be good news.
https://finance.yahoo.com/news/titan-medical-inc-announces-overnight-203603144.html
It better be overnight for real this time.
Sages led to an almost 100% rise in PPS. It just did it ahead of the conference rather than after. These are huge moves. A pause or pullback is not unhealthy in this context. Just not sustainable otherwise and those who bought in at the lows have to take some profit. The next run up should not take too long if this was a true reversal.
Guys like him are not nervous. Just scientists/clinicians and too accomplished for feeling any need to make an effort. He doesn't care about the business aspect in terms of how he comes across.
So you basically get them as they are...as distracted and uninterested as the occasion allows. I have no issues with it.
Looks like the shorts and traders had only a short lived victory. Sooner or later we will snowball over the 1 dollar mark.
1.02 on the ask now. very nice recovery so far. doing what it is supposed to do, which is nice for a change.
Well..someone just blinked..lets see if carries
not a lot of sellers today and the few that are unwilling to go below 1.07 sofar. Same for the buyers unwilling to budge but large block of 125k at 1.05. It's a standoff
Not sure if this is known yet, or accurate...but quarter results and milestone updates in 2 days according to this:
http://www.octafinance.com/analysis-and-titan-medical-inc-tmd-earnings-review-3/380868/
It's a winner.
Appreciated here too.
I just got to the FB pics, which included some of TRXC and DaVinci
....and boy...does it hit in the gut how far SPORT is miles ahead of that.
If I can get feeling just with a few pics, imagine seeing it in person.
Good assessment.
There is a lot of reason to be far more confident in this recent jump than some of the others we have seen in the past. The buying blocks we have have seen recently say it all.
We're hanging right now just below the $1 as I expected yesterday, but no reason to assume it will drop like a stone this time. The traders are outmatched this time by some big guns bringing in the stability this stock needs (thx to the recent IR partnership I suspect)
We're all waiting for a large jump,even thought personally with some trepidation about a "sell the news reaction" as brought up someone else recently, or potentially a non-event reaction. Yet, I'm not worried about any big pullback, and I feel there's a good chance for the opposite. I am not counting on anything however, and prepared for either - a 10% drop or 50% jump. The upside is clearly better than the downside risk in this case.
So we'll see what the rest of the week will bring and wishing everyone the best.
My best guess is that it occurs for the same reason that frozen pizza boxes have the instruction "do not eat before cooking" printed on them. Some people just do foolish things.
Looks like a false breakout and failure to get over resistance. No reason to assume it will go down from here with this volume expansion. My guess it will hang here a bit, pick up steam, and then get over the hump. Tomorrow or Wednesday.
Could be a lot of other uses before using them for sales. Think marketing units in multiple locations, training units....and last not be least...to play a game of chess with...!
Took advantage of it with my last buy for a long time..maybe ever. Kind of fitting...99c US