TITAN MEDICAL INC COM NPV (OTCMKTS:TITXF) has been showing solid progress since early September. Those who invested in early September are surely overjoyed by the progress. TITXF has pulled back to start the week but, as stated, has been trending upward overall. So what’s behind the move?
TITXF released their quarterly statement and the market seems to see the potential going forward for the robotics company. The company has sustained some losses in operations but this looks to be from operational expansion. TITXF is not the worse for wear when it comes to cash on hand. cash equivalents and deposits with suppliers as of September 30, 2017 were $7,268,903, compared with $6,356,559 as of December 31, 2016. So, while the company may have not made it into the black regarding operations, a nice fundraiser put them in a good position to have a nice 2018.
TITAN MEDICAL INC COM NPV (OTCMKTS:TITXF) promulgates itself as a development stage company that focuses on design and development of a robotic surgical system for application in minimally invasive surgery (MIS).
TITXF is developing Single Port Orifice Robotic Technology (SPORT) Surgical System, a single-port/single-incision robotic surgical system that comprises a surgeon-controlled robotic platform, which includes a 3D vision system and interactive instruments for performing MIS procedures.
Its SPORT Surgical System also includes a surgeon workstation that provides the surgeon with an interface to the robotic platform for controlling the interactive instruments and providing a 3D endoscopic view of inside a patient’s body during MIS procedures.
The SPORT Surgical System is being designed to expand robotic surgery into simple and complex areas of surgical specialties that allow surgeons to perform procedures within small to medium size surgical spaces for general abdominal, gynecologic, and urologic indications. Titan Medical Inc. is based in Toronto, Canada.
According to company materials, “Titan Medical Inc. is a Canadian public company focused on the design and development of a robotic surgical system for application in minimally invasive surgery (“MIS”). The Company’s SPORT™ Surgical System, currently under development, includes a surgeon-controlled robotic platform that incorporates a 3D high-definition vision system and multi-articulating instruments for performing MIS procedures through a single incision. The surgical system also includes a surgeon workstation that provides a surgeon with an advanced ergonomic interface to the robotic platform for controlling the instruments and provides a 3D high-definition endoscopic view of inside a patient’s body. The SPORT Surgical System is designed to enable surgeons to perform a broad set of surgical procedures for general abdominal, gynecologic, and urologic indications.”
Find out when TITXF stock reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.
David McNally, President and CEO of Titan Medical, said, “The third quarter of 2017 and recent weeks were exciting and productive, and built upon the work we have done to advance the development of our single-port robotic surgical system. We installed our first advanced prototype SPORT Surgical Systems at the Florida Hospital Nicholson Center and at Columbia University Medical Center, and commenced preclinical feasibility and validation studies. We are encouraged by the enthusiastic feedback we are receiving from the surgeons testing the SPORT Surgical System. We plan to commence additional studies with Columbia University Medical Center and our European center of excellence, Institut Hospitalo-Universitaire de Strasbourg, in the fourth quarter of 2017 and to continue with all three sites into 2018.
“Having successfully completed all our published milestones for the third quarter, we are confident we are on track to meet our fourth quarter milestones and will continue to execute as we enter 2018,” Mr. McNally concluded.
Holding a current market cap value of $138.01M, TITXF has working capital and a solid plan for success head. This is an exciting story and serves a valuable need for the future of medical care, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $TITXF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!