Replies to post #63035 on Titan Medical Inc (TMDIF)

[SPORT19]

This is will be the longest stretch of time we have been funded since I've been invested in TITXF. If we continue to hit our milestones for the next 9 months and all reports from the testing sites are positive I gotta believe we will see an increase in PPS such that many warrants will be exercised over that time. We have .40 .50 and .60 CAD out there. I would think that as we get closer to FDA coverage of this company will increase.

[EIT]

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.