Share prices for TransEnterix (NYSE:TRXC) have more than doubled since the robot-assisted surgery company won an important clearance from the FDA last week and CEO Todd Pope is optimistic about his companies chances against the undisputed market leader, Intuitive Surgical (NSDQ:ISRG).
Morrisville, N.C.-based TransEnterix, which acquired Senhance for $100 million in September 2015, finalized its clearance bid last month after applying in April; the federal safety watchdog granted 510(k) clearance last week, pushing TRXC shares up 92.5% to a $2.81 close yesterday; the stock had gained another 47.0% to reach $4.13 per share as of about 2:45 Eastern today.
Noting that most of the growth during Intuitive’s run – its flagship da Vinci platform hit the U.S. market in 2000 – came from the conversion of open surgeries to robot-assisted procedures, Pope told The Robot Report today that TransEnterix is aiming its Senhance device at converting laparoscopies.