They have two units, i.e., one is called ALF-X which has had EU approval for sometime, but was a product of another firm that didn't have the finances to bring it to market; the second is a derivative of their original spider that was reworked for the haptic/3-d robotics and since the original was FDA approved they tried to fastback through without trials and the FDA shot it down.
Now, the ALF-x has been in two hospitals in the EU for some time performing hundreds of surgeries building data for FDA approval and it looks like they just sold their first 1.5 million dollar unit. Frost and Frost Gamma were invested with the original owners and when his shares were unrestricted he sold into the rally; I might add.....he did so in a few others at the same time, like PGLC. When it rallied to six I could tell that someone was selling but I just speculated that it was ATM sales and the company was raising extra cash (they have 75 million free cash too). Have seen Frost keep his shares a few times before after his shares were unrestricted, so I never ever dreamed it was him. I think he was selling a few things to stiffen up his pup OPK. As you investigate.....you will see several lawsuits from those who bought in that were misled; however, most have proved invalid. The ALF is similar to ISRG Intuitive's product, but the ALF posses haptic feedback (which simply means the surgeon can feel and sense the information) and the ALF has greater 3d capabilities.
The beauty of the SURGIBOT is.....it is easily set up and can move from room to room with ease. The surgeon can be scrubbed in with the patient (which is a major positive) and it costs only a half a million. Both the ALF and Surgibot tooling is much cheaper and reusable (unlike the ISRG's Davinci). And, the benefits of these types of surgeries are post op healing (time in the bed) times are extremely mitigated as well as insurance liabilities. Less tooling, less incisions, less potential problems.
Friday is earnings and I would be willing to bet they announce their goals of obtaining FDA approval on the ALF and EU approval on the Surgibot. It should spike up through the week. This sale makes TRXC a buy out for many will have to wait several years to get a product this far......Googles VERB or ISRG to suck up the patients. ISRG has had total market control for decades. This could be a Amazon or Netflix moment.
