Titan Medical Inc (TMDIF)

[66Mustang]

That article said TRXC has a timeline of May 2018 for FDA approval on Senhance. Not sure when it went on sale in Europe but only seven systems in place so far and only one sale in Q1 2017. They don't seem to be lighting the marketplace on fire yet. But they also don't seem to be offering anything improvement over ISRG's offerings. They booked $1.9M for the sale of that one system, so they are priced in da Vinci range; no advantage there. I assume it will run up from the 60 cent share price at some point and I had been considering picking some up in the current price range because they really are at rock bottom right now. But we have thought that about Titan too, so...

I'm not selling Titan to get into TRXC, but I think TRXC has to go up from here. It already took the beatings for FDA rejection last year and all the recent fund raising, plus they have that $17M loan to keep them running so they shouldn't be diluting over the next year or so. Despite moderate-at-best competence in the past, I think they are due for something positive.

On the other hand, B. Riley (whoever they are) just downgraded them from Buy to Neutral. And they burned through $16M in first quarter; not sure how their $40M budget will last for another full year.Maybe the downgrade will hit their stock price further and we can snag some at 45 cents next week!