pmontx, not sure what to tell you...
Definitely a punch in the gut this morning. I haven't been following my own advice lately and badgering them for info; some of that is on me as for my own emotional response to today's news. So I haven't been seeking that "transparency" by actively pursuing it. Yes, it sucks. Was I lied to? I don't think so; I think it was the most accurate information they had at the time. Program Management can only be so accurate when projecting timelines for a project as complex as a surgical robotic system, especially if other factors arise that could not possibly have been foreseen. You create a plan, you march to it, and at any fork in the road they have to make a choice as to what they believe is best for the overall program. It would be unfair of me to say I think they did the wrong thing because I don't know what the alternatives would be. March forward with a system that probably wouldn't get FDA clearance? That would have been a much more devastating way to end 2022 or enter 2023. However...
4 millions shares have been BOUGHT so far today. Great price, too. Bottomed out at what, 99 cents pre-market? We've regained about half of that loss in 2 hours of market being open. I don't expect to close over $1.50 but the trend for the day isn't so bad, given our opening price.
JnJ recently announced a TWO year delay for Ottava. Could it have been worse for Titan? Obviously. But it wasn't.
When I first read the news this morning, my initial thought was "How fast can I get out of this stock, before PPS tanks completely?" But I decided to wait and see what the real story is. And this is my take:
The two biggest factors for me are first and foremost, the IP portfolio, and once MDT came into the picture, that was second. IP hasn't changed, except another 2 patents approved on Tuesday and the count continues to rise - an ongoing positive for the company despite their unwillingness to tout it publicly to the extent that I would. Then there's Medtronic... A few pieces I'm tying together...
Milestone 4 still on track for end of year per the CC today. And the revenue that represents.
Mr. McNally commented on the shared values and vision for robotic surgery - inherently a very forward looking statement.
He then proceeds to answer the question about the future with Medtronic by saying it would be inappropriate to comment on that right now. If there was nothing forthcoming, it would be ENTIRELY appropriate to comment on it today, especially since they already set us up for a PPS bloodbath. It's only inappropriate to comment on it if there is SOMETHING to comment on.
He mentioned the segregation of development of Enos from the co-development project for MDT. So if that contract work was to go away completely upon conclusion of Milestone 4, they would be looking to downsize. Instead, they recently announced the expansion of their footprint at Chapel Hill. This is not the action of a company that is about to lose one of their two primary programs.
So I will continue to hold all my shares (never sold one yet) with my fingers crossed that by the end of the year, there will be news that will move the needle beyond yesterday's closing price, and hopefully a double from there. And I do recognize there is a little blind faith involved, and a little of me just being stubborn, but also a bit of evidence as I see it. As well as whoever the folks are who are buying over four million shares so far today.
Message in reply to:
Hey Mustang, not to put you on the spot, but were you lied to back in April when you mentioned how transparent Titan management was with moving forward .. What the heck happened with that baloney?
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