Biotech Values

[semi_infinite]

TRXC - From CC yesterday. 3mm "micro or scarless" lap instruments to be released in EU in 1H 2018 then articulating instruments also first in EU to be followed by US after FDA clearance. No time line given for submittals. It will be interesting to see how well the instruments do in the EU. I thought articulation maybe tricky to implement with haptics and conventional Lap movement. Apparently not.

On financing front, they wasted no time gathering $$ using their ATM and completed it in October. $100M of cash now on the books should be ample if early interest turns into sales. Sales cycle is 4-6 quarters as with other large cap hospital equipment. Some early adopters have placed or close to placing orders, Taiwan (q3) prior to clearance), EU and US. One each in latter regions.

IMO prior comforting words from CEO that they have no intention of going head to head with ISRG should not be very comforting at all to ISRG particularly with regards to release of articulating tools.