Titan Medical (TSX:TMD; NSDQ:TMDI) announced today that it has closed on a previously announced offering, raising $11.5 million in aggregate gross proceeds. The Toronto-based surgical robotics company conducted the sale by way of a short form prospectus in each of the provinces of British Columbia, Alberta and Ontario — as well as a private placement in […]
Titan Medical Inc.
Titan Medical rises on Q3 results
Titan Medical (TSX:TMD;OTC:TITFX) shares ticked up today despite third-quarter results that include a massive decline in revenues. The Toronto-based robotic surgery company posted losses of -$1.6 million, or -2¢ per share, on sales of $4.5 million for the three months ended Sept. 30, 2020, for a -4.9% bottom-line slide on a sales decline of -75.5%. “Titan […]
12 surgical robotics companies you need to know
Surgical robotics remains a hot area in medtech — even as it faces headwinds from the COVID-19 pandemic. Intuitive Surgical (NSDQ:ISRG) pioneered robotic surgery through the early 2000s and remains the dominant player, but major companies including Medtronic (NYSE:MDT) and Johnson & Johnson (NYSE:JNJ) have big plans to enter the space and compete. Meanwhile, Stryker (NYSE:SYK) has built a […]
Titan Medical gains 2 robotic surgery patents
Titan Medical (TSX:TMD;OTC:TITFX) announced today that it received two U.S. patents for its robotic surgical systems. Toronto-based Titan Medical’s two latest patents bring its global intellectual property portfolio to 58 issued patents and 84 patent applications, according to a news release. Additionally, the company has received notices of allowance in 17 other patent applications and anticipates […]
Titan Medical CFO retires; succesor named
Titan Medical (TSX:TMD;OTC:TITFX) announced today that CFO Stephen Randall will retire and Monique Delorme will assume the role. Randall has spent more than 10 years with Titan Medical, leading the company through 30 capital transactions and raising more than $260 million to fund research and development for its surgical robotic technologies, according to a news release. […]
Titan Medical reports improved financial position at end of Q2
Titan Medical (TSX:TMD;OTC:TITFX) faced a working capital deficit of $9.7 million more than a year ago. Fast forward 12 months, and the robotic surgery company has $21.7 million in working capital and has been able to resume product development. That seems to be the big takeaway from Titan Medical’s second-quarter earnings report, released yesterday. Titan executives […]
Titan Medical CEO sees opportunity as product development resumes
Titan Medical (TSX:TMD;OTC:TITFX) has been able to resume product development of its single-port robotic surgical system, CEO David McNally said today in a letter to shareholders. Titan is back working on its system thanks to a $10 million license payment and $1.5 million loan as part of its new development deal with Medtronic (NYSE:MDT). Titan also recently […]
Titan Medical announces $18m offering, settles Naglreiter suit
Titan Medical (TSX:TMD;OTC:TITFX) announced that it registered an $18 million direct offering and settled its lawsuit with Naglreiter Consulting. The Toronto-based robot-assisted surgery technology developer entered into definitive agreements with a single healthcare-focused institutional investor for the sale of 18 million shares of its common stock at $1 per share and 9 million common share purchase […]
MedTech 100 roundup: Stocks stand pat in June’s first week
While the markets experienced some growth over the past week, stocks in the medtech industry remained practically unchanged over seven days. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 87.15 points at the end of last week (June 5). That total represents just a -0.02-point decrease […]
Medtronic turns to Titan Medical as it makes robot-assisted surgery play
Titan Medical (TSX:TMD;OTC:TITFX) announced today that it entered into an agreement with Medtronic (NYSE:MDT) to progress the development of robot-assisted surgical technologies. The development and license agreement to develop those technologies is accompanied by a separate license agreement with Medtronic in respect of certain intellectual property of Titan Medical, according to a news release. Under the agreement, […]
MedTech 100 roundup: Stocks peak to end May
Medtech stocks closed May at their highest point since before the COVID-19 pandemic rocked the markets. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 87.17 points at the end of last week (May 29). That total represents a 2.3% gain from the 85.22-point total at the […]
