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See second article on the page...some quotes from McNally...
https://investingnews.com/daily/life-science-investing/medical-device-investing/medical-device-outlook/
That's a very serious and ridiculous underestimation of Scotch.
Agreed. Not to mention that it kills the potential for money coming in from the warrants, many of them quite near.
So at least let PPS climb until the point that a substantial portion of the CAD $.60 warrants are exercised.
I still come across articles now and then stating that SPORT is intended for sport injuries.
The FDA has recently introduced a higher level of flexibility when it comes to testing predicate devices, with life subjects testing results that can be submitted even after approval and post market.
This is very good for Titan, and exactly what they plan for in their timeline (over-support SPORT at centers of excellence with the first human surgeries) after submission. And they can start taking orders and selling right away after approval even without life subjects.
This article from the FDA blog is very informative in this regard, which seems to have the right intention in making it easier for innovative products like SPORT (how it exactly works in practice is not yet entirely clear, so that is the only catch).
https://blogs.fda.gov/fdavoice/index.php/2017/12/new-steps-to-facilitate-beneficial-medical-device-innovation/
A Santa Clause rally still in the cards in my mind. No idea how far it will run, but expecting a nice run-up before January, and it will only get better from there.
Just listened to the webcast of the Annual LD Micro Main Even. Never got to it earlier, assuming nothing new would be said.
But...I was very pleasant surprised at how strong Titan comes across these days with McNally at the helm.
The positivity and promise of SPORT is extremely palatable throughout the presentation and in the audience as well as you hear the questions.
That is sentiment, folks, which is everything...
Mention of Titan in this recent article as one of the real upcoming competitors for intuitive and mentioned in one breath with Verb and Medtronics. Interestingly, TRXC is conspicuously absent, not even considered worth a mention. This is certainly different from what we have seen in the past where we were often ignored.
https://health.economictimes.indiatimes.com/news/medical-devices/da-vinci-leads-the-way-in-global-robotic-surgical-market-says-globaldata/61987452
FDA communications are the biggest wildcard at the moment.
Already they seem to indicate cadaver studies, which is not yet planned for in the milestones, and they might even require some clinical feasibility studies with life subjects.
If there's any delay, that will be probably be the one, and I don't really like how Mac seems to be hinting at potentials delays in this recent podcast.
However, I agree with him that in the end it is more important to get everything right, which I assume refers to getting it completely right before before FDA application, rather than unpleasant surprises afterwards.
It's news for sure. Is it already baked into the PPS? We'll know as soon as the market opens.
I find it really hard to predict the movement of this stock, but I do feel this should be the bottom, and we should go back up from here either way.
Does not look like Longtai is dumping their shares either, which they could have as of 1st of December, and hopefully they got their warrants exercised as well.
Like BT said: of course. The idea that PPs moves only on news is ridiculous. It often moves way ahead of that, hence such a thing as technical trading. Besides, history shows that TITXF has some of its biggest moves up to 500% without significant news, and just the anticipation of it.
that was in relation to big data as is being developed by verb. They are not pursuing that at this point although they expect the aystem to be compatible with such an approach.
Software development already begun in this quarter according to final prospectus filed today, so they are ahead on that one.
I think we're done bleeding.
The commentary with the Q3 2018 milestone is phrased a bit differently I think, relating to FDA requirements and initiated conversations: Preclinical studies will be designed to satisfy the regulatory guidance provided by FDA and European notified Body.
But funding for that quarter looks okay, they just don't say it explicitly yet, but we should have the biggest chunk of it with the maximum offering (around 4 million US more). So only around 3 mil needed from warrants for Q3 2018 milestone.
In addition to the proceeds of the Minimum Offering, the Company estimates that approximately US $7.2 million in incremental funding (net of offering expenses) will be required in respect of the Q3 2018 milestone. Such funding will not be required for the Q1 2018 and Q2 2018 milestones.
Rowing boat my source told me. Keeping a lid on expenses.
The last prospectus is unclear about how far it will take us in Q3.
I do not expect more clarity on anything beyond Q2 at this point, and this was more or less confirmed by Flenderson. They're unwilling to discuss it.
They do say in the latest prospectus that with maximum proceeds that have enough for regular expenses in Q3, but they do not address the completion and costs of the Q3 milestone itself in relation to the proceeds of the offering.
My guess is that the lack of clarity has to do with recently initiated conversations with the FDA. They just don't have all the information yet they need to more clearly state anything about Q3.
Q3 is right before FDA submission with the final tests pork tests and after design freeze, so they want to get everything right.
Best case scenario would be that there are no unpleasant surprises from conversations with the FDA, or perhaps even that they need to do less than anticipated in terms of clinical testing required by the FDA finishing ahead of time.Once they have all the information they need, I expect more clarity on Q3 2018.
Nice little pop at the end of the day. Looks like we're staying above 50 day MA.
Happy to take some of that coke off your hands. It's for your own good.
PPS still playing around with that 50 day moving average. Hope some news comes soon.
Yes, it looks that way to me from a chart perspective and in terms of probabilities.
We should have seen the worst. Nothing extraordinary happening here in my view, and so far very predictable from a technical perspective (which the MMs and computers use as their guide to either push PPS up or down).
The charts suggests this is the end of it, with support at the 50MA (see blue line).
http://stockcharts.com/h-sc/ui?s=TITXF
If it goes under it, we have a problem, but more likely in terms of probabilities, the chart predicts it will bounce from here, and that good news is coming very soon.
Too much eggnog.
No-one is paying attention lately to anything, including the latest filing.
Oh well...happy thanksgiving to all!
My last two post were about the latest filing. It was on sedan ahead of the press release
The prospectus states:
In addition to the proceeds of the Minimum Offering, the Company estimates that approximately US $8.6 million in incremental funding (net of offering expenses) will be required to fund the anticipated pace of development and operations through the first three quarters of 2018.
That surely can come from warrants, or from the maximum offering.
In general, they are very unclear about the funding of the development milestone of Q3 and its funding, and only refer to operational costs in Q3, less so on the development milestone.
Looking at that milestone in more detail, it seems to me that the only difference with what is already going on right now in this quarter at the centers, is that it involves more formal clinical life swine studies, but more than anything else, something they need to re-do after a design freeze, but perhaps not something that needs to take very long. I think what happens in Q3 (and Q4) will also depend on the recently renewed communications with the FDA adding to lack of clarity there.
It does seem that the additional funding in the amended prospectus to the first half of 2018 could have something to do with a faster pace of development, but they are not willing to move up timelines yet in the prospectus itself. I could see the milestones moving up 1Q with FDA submission end of Q3 instead of end of Q4.
Amended prospectus is now SEDAR.
Looks like they allocated a higher amount of the proceeds to the completion of the milestones for Q1 and 2 as compared to previous one. A little strange, since they did not raise the costs of Q1 and Q2, yet do allocate more money to it in terms of the proceeds from the offering in comparison to the previous prospectus.
In terms of the company being able to operate they extended it by two months, from 7.5 till 9.5 months, which takes us almost till the end of Q3, just not the finishing of the milestone of Q3.
I have to disagree. There are lingering issues with investor confidence due to the history of previous management(s), not to mention that we are on the OTC.
I have no doubt history wont repeat this time with unnecessary delays (well, maybe they decide on coffee cup holder to be attached to SPORT), but I'm pretty sure there are potential investors out there that will have not the same confidence. This will correct itself in the coming year as milestones continue to be met.
It's all algorithmic and automated trading systems, not even people behind a keyboard typing the orders, just a computer. They simply follow the instruction they have been given based on technical analysis or whatever they have programmed with.
That's why it's so difficult to understand the price movements we see often, because you're trying to understand a computer, not a human.
Right now, the programs decide to keep us on the same spot, competing with each other even for fractions of a penny, until they eventually get overridden with enough human demand or whatever other variables it takes into account, and they will follow a new strategy, but still always there in the background to squeeze out pennies for a substantial profit in the long run.
To understand why the stock is not going up right away, as some expected, is to realize that in a sense, the PPS went up 20-25% just by PPS remaining stable.
If there would have been a second offering, which would have to be priced at present PPS, then the PPS would have dropped another 20-25%. That did not happen, and thanks to strong investor demand just up-sizing the older offering was enough, keeping the PPS where it is, which is a very strong move to start with, even when it seems nothing has happened on the surface of it.
We'll start climbing again in the traditional way soon enough.
Flendorson means setting up a sales team. I don't think they will do that themselves either, but I could easily see them using an existing sales team with a strategic partner, as noted in my previous posts. Less costly, and early sales.
Yup...a lot more money to come in, making Titan's position even stronger.
No options...thank god. If there were, the premium would be ridiculous (look at TRXC options for example) and there would be even more manipulation.
The shares are pretty much options already given the volatility.
The actual numbers will all depend on how desperately Titan needs money, and they may not need that much, and I would not make any direct comparison, apart from the overall construction itself. The utilization of a sales force of a large company is most interesting to me. It will be difficult and costly for Titan to set that up, and a large company with many existing contacts at hospitals taking care of that would have great benefits in terms of units sold and quickly after FDA approval. It could be a huge first wave of selling in the case of SPORT.
In the case of Mazor, they are selling with a much smaller market, but not making profits, because they continue to invest in research and development like madmen, and because they went at it alone in the beginning. They have to invest a lot, because of the competitive landscape of their robot. It does not apply to Titan to the same degree. And even then, if you look at Mazor's stock in the last year, they are doing great.
In any case, future looks bright with being fully funded till FDA!
Mustang...it could look something like this as an example, including using the entire sales force of a partner with shareholdership, warrants and commissions for the partner. Titan being in a strong financial position when negotiating that deal will make for the best possible outcome.
https://www.mazorrobotics.com/index.php/investors-relations/investor-press-releases/488-mazor-robotics-and-medtronic-enter-next-phase-of-strategic-partnership-medtronic-to-make-a-40-million-third-tranche-investment-in-mazor
In my view, apart from removing doubts about financing, I believe the main reason for the early raise rather than wait is very much in order to be in a strong negotiating position with potential partners.
Any partner that invests in the company will definitely try to squeeze Titan as much as it can in terms of shares and warrants in return for their "favors". That's just the name of the game.
However, if over the next year Titan is not in desperate need of more money, this makes for a far stronger position in those negotiations. McNally very clearly said in the CC that he is looking for partnerships that would be as non-dilutive to shareholders as possible.
This is the way McNally chose to do it, which is that he decided that it is better to dilute now on their own terms, and be in that strong position from there, than be at the mercy of the good graces of a partner and the market later on.
I think so as well. It won't be that long before we try getting over .50 again, hopefully the next time successfully.
But, extremely boring right now, with not much PPS movement, and the the only news being old news.
Suckitup is not wrong.
The whole thing with estimating buyout figures hinges on whether SPORT is a game changer, without any real competition offering the same thing (looks like it).
So any buyout may very well "defy logic" as stated by Suckitup, and traditional comparisons to reach a buyout figure, or ultimate PPS, may not work here.
Those months are a little off. Right now, anticipated FDA approval slated for first half of 2019, so probably around 18 months from now.
I don't understand your statement.
At first glance in the SEDAR filing, I see no change except maybe the overallotment. 4.5 million max overallotment in this last one. Not sure what the previous one was. Also, it now states one warrant instead of the half one, which we already knew.
Maybe not, but I'm not so sure there will be an immediate buyout, and I think a partnership is just as likely. I particularly like a set-up like Mazor has with Medtronics.
https://seekingalpha.com/news/3292599-mazor-robotics-medtronic-enter-next-phase-strategic-partnership-shares-mazor-6-percent
It sounded like McNally was refering to a such a partnership when he mentioned they want a partnership to be as non-dilutive as possible for shareholders and increasingly able to be selective (note how eager he was to point out they do not have a contract with Longtai as if it was a source of embarrassment). Good chance medtronics is one of the interested parties already.