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TRXC market cap was at $500 mil at the time of fda submission and moved up to a peak of $650 mil prior to fda decision.
Market opp and legit product should push this higher than those numbers. Hope the market agrees.
There was a PR on Nov 16th. Also the Columbia location is an educational facility so there is probably less traffic and more challenge in coordinating schedules.
Why can't Titan list under the equity standard as opposed to the market value standard?
Could be wrong, but have to agree with ST.
RS to uplist makes sense to attract institutional money. In theory, that momentum would pull alot of warrants into play if you announce design freeze alongside that event and follow shortly thereafter with an early FDA submission. That could potentially offset need for an additional raise.
It's also better to raise while on NASDAQ so institutions can participate, which is a better dilutive outcome bc of additional stability versus weak retail money and shark OTC market makers. We all know this by now.
Trump also gave a nod in last night's SOTU to getting med devices approved more quickly which obviously bodes well for us.
My take for the call is a general business update on status, software, and an update from Nicholson progress including reinforcement from Estape.
Shareholders have been battered time and time again and should fear PRs like this but we are SO close to realization and our patience WILL pay off at some point.
L&S
Great video by Vijay Singh MD, a cardiothoracic surgeon, discussing the future of robotic surgery and preaching the promise of single port!
You're right we know Plexus. I think this is just showing a peak under the hood about the SPORT system, like use of Altium and components like the Cortex-M0 controller.
Those two items are all over the Verb job descriptions and Verb engineers LinkedIn profiles.
At the least, Titan probably has the same bones as whatever Verb is involved with.
The board should go town on these connections. Release the hounds.
Video Feedback:
If you watch the new video there are a couple nice attractions that I noticed.
1. This is my non-medical opinion about something that may not matter or is commonplace but at one point the left snake is being used as a blocking forearm to easily create space and post up some tissue. Thought that looked very intuitive and fluid.
2. What looks like a new feature is a visual aid tracking camera placement that pops up on the top of the screen as the tools navigate the workspace. This means to me that they are actively updating the software. Exciting.
"Huennekens asserted that Verb, the joint venture formed two years ago between Johnson & Johnson's Ethicon and Google's Verily, is not a developer of a surgical robotics device."
ST, you need to consider taking a hiatus. Your negativity is becoming toxic.
You can add some value and do this yourself but here are a few articles that support what everyone else agrees to, that Verb is building a digitial surgery platform focused on software that will be used by multiple bots and J&J will lend scale, industry expertise and advanced instrumentation. Getinge will offer the same as J&J, just different equipment. I'm sure more partners will be unveiled soon enough.
https://www.massdevice.com/devicetalks-qa-verb-surgical-ceo-scott-huennekens/
https://www.mddionline.com/democratizing-surgery-qa-ceo-verb-surgical
https://www.slideshare.net/JosephMullings2/how-verb-surgical-will-deliver-on-surgery-40-by-tina-tan
I’ve posted previously where Huennekens is quoted saying they are not building a robot, nor is J&J. Same validation through other articles, job postings, etc.
Addressing this is getting old. Same old speculation. Nobody knows for sure until the veil is lifted.
L&S
To expand on this, check out Huennekens tweet from yesterday, "Look forward to incorporating the benefits @VerbSurgical with each of our robots connected, aggregating data and continuously learning."
https://twitter.com/scotthuennekens
Need institutional investment to run PPS. Retail only takes this so far. Need stakes taken by ETFs and index funds as well. Need off the poorly regulated OTCs. You know better, ST.
Getting on NASDAQ and off the OTCs is imperative. Can't emphasize this enough.
I disagree with the Intuitive partnership. Verb wants to disrupt and revolutionize.
ISRG's footprint is large but their tech is stale and hospitals are tired of cost, process, and size around their offerings. They breed a monopolistic framework. The SP is a potential solution to the natural progression of industry demands (single port, better patient and hospital outcomes), but for some reason they have had it on the shelf for years. Now that's stale too. ISRG also doesn't have a malleable software solution in its current form.
Alternatively, Verb wants to own the digital framework and be platform-agnostic so they can actually enhance the surgeon experience, share data, and benefit patients. They will have certain strategic partners that will likely have a place on each platform (Ethicon, advanced instrumentation), but I think they push for an open network.
I'm still 50/50 whether Titan will align with Verb, but Titan's tech will likely be adopted by a big box player or a strategic given its advantages.
Verb has publicly stated that i) they are not building a robot, and ii) they intend to work across multiple platforms.
A partnership between Titan and Verb would not isolate either one of them. IF Titan runs on Verb software, it would be an advantage for both to take part in the machine learning and data analytics and connectivity which ultimately are stated goals for both Titan and Verb.
Verb's relationship with Getinge is centered around Getinge's deep knowledge in instrument reprocessing, OR equipment and IT solutions with Verb's expertise in robotics, advanced instrumentation (Ethicon), enhanced visualization, connectivity, and data analytics/AI.
As far as disclosing a potential partnership, they don't need to announce until they want to. There are so many factors, including sensitivities to existing partnerships.
Titan was on the precipice and raised $20+ million overnight. That should speak volumes as far as viability of the technology and the opportunity.
I have no idea what's next via PRs, market, partnerships, or anything else and neither does anyone else on this board.
L&S
Unlikely we get news at this point in the year. Even if there is news, they are better off waiting until 2018 and positioning into a RS within 3 months and submission within 9 months.
Whether this goes well or goes poorly in the long run, we should be in for a very exciting 2018, which is a huge catalyst in and of itself.
I'm signing off for the remainder of the year. My christmas present to myself. Happy holidays to all.
Year end selling pre holiday!
Love the conviction of the board fortune tellers that keep coming back while batting zero for a million. Hilarious.
L&S! Can’t wait for 2018.
Hey sport, when did McNally say that? I missed that.
I recently posted an interview with Huennekens. He confirmed that they are focused on doing the software and Ethicon is doing the advanced instrumentation.
There are numerous job postings from both companies that reference multiple novel surgical platforms. Verb has already partnered with Getinge to access their global footprint and use general OR equipment.
It’s only a matter of time until they begin divulging the hardware partners.
Also, Mullings recently posted for a position based in Boston for a “gamechanging” surgical robot. Could be anyone at this point.
Verb echoed Titan as competition from the article. I'm good with this publicity.
Don't be a skunk.
L&S
Verb Surgical tweets about Titan! They have also recently been in China and Japan if you look through recent tweets.
From article - Increased competition is driving innovation with new entrants developing prototype products for launch over the next one to two years. Some of these companies include Medtronic, Titan Medical and @VerbSurgical https://t.co/TxMzoUM5uc
— Verb Surgical (@VerbSurgical) December 13, 2017
Another recent patent published: Robotic system display method for displaying auxiliary information
Application Number: 15/490,098
https://portal.uspto.gov/pair/PublicPair
http://www.freshpatents.com/-dt20171123ptan20170333140.php
Institutions can't (generally) invest on OTCs
Keep in mind that there are 5 SPORT systems out there.
Where oh where are the other 2?
https://interpromodels.com/interpro_blogs/kd-cast-urethane-case-study-the-titan-medical-patient-cart/
You got it, BigT. Just need to manage the messaging and have investors lined up.
The nature of companies that reverse to uplist is generally in jeopardy or significantly more spectulative than even Titan. With Titan, there is substance, a legitimate product that investors can touch and feel, and tangible milestones to achieve.
I can see an uplist coupled with design freeze, continued press and milestone achievement, then FDA submission. The reverse impact shouldn't even be a consideration at that point.
Have to agree with that, 66.
Reasons for Titan to run into 2018:
1. Flush with cash thru 3Q18
2. Should easily get to FDA submission with no additional capital
3. Cash thru warrants continues to come in
4. Continued progress updates from centers of excellence
5. Anticipation of reverse to attract institutional investors (good riddance OTCs)
6. Word spreads organically regarding game-changing technology
7. Speculation of potential partnerships
8. Industry tailwinds
9. Already in discussions with FDA
10. Significantly less $ to get to commercialization than previously anticipated
11. European investors open their pockets
AND
12. AHEAD OF SCHEDULE (Q4 milestone complete, already started Q1 milestone)
Anyone have thoughts on this partnership? Announced last week.
https://www.prnewswire.com/news-releases/getinge-and-verb-surgical-inc-announce-strategic-partnership-to-develop-digital-surgery-solutions-300564823.html
It's not what others were valued at but that was a couple years ago when TRXC was about $500-700 mil pre-FDA and ISRG has gone from $20 to $45 bil market cap.
We will see a big jump. And all of that is soon.
Important note from new presentation slides:
As of December 1, they have received USD $9.5mm in warrant exercise.
The last they reported was $4.7mm through October.
This adds another $4.8mm to cash on the balance sheet.
GREAT NEWS
CLOSING ANNOUNCED. MAX OFFERING CLOSED!!!
The "Underwriting or Agency Agreement" as filed states that the offering will close on or about Dec 5.
I am looking at the last offering from June. It is simply not a 1-2 day turnaround. Takes a week from filing of amended short form. Just like this time.
Given this is likely one of the few and most centralized locations for information regarding Titan, I am shocked that you don't think it has any influence on retails buyers or sellers.
If you are referring to institutions, I agree.
Yes, this implies that the offering is being finalized. Should expect a closing announcement after market close today or likely first thing Monday at which point the final prospectus and PR will be filed.
If you annualize ISRG's most recent quarterly earnings ($800 million) and divide current market cap by that number you get a multiple of 14.1x.
That would put market cap at $49.2 bil on $3.5m annual revenue.
10k at .35 last week to put me at way too many shares.
I was referring to the lack of spine (conviction).
And I like my panties extra tight.
L&S&M
I hear you but once they decided to upsize it's like hitting the reset button on timing with the regulators and all documentation, legal, etc etc. That's why it feels longer.
The reason the PPS goes down is in part because all of you jellyfish come on the board and scream bloody murder. The other parts being consolidation and the beginning of year end tax loss selling.
How do none of you understand that a deal doesn't just simply close overnight?
Do some homework and look into how long these processes take to close and you'll find your answers. Should never have expected a closing announcement prior to next week.
Mint, despite your overwhelmingly positive attitude as of late, I know you are not a grand prognosticator. Hasn't everyone learned by now that not a single person outside the company knows the extent of things happening at Titan. There are some that are more informed than others, but it is all confidential until it's not.
To stir interest, raise awareness, and encourage institutional participation organically.
Read the offering document.