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 […]
Titan Medical faces Nasdaq delisting
Titan Medical (TSX:TMD) announced today that the Nasdaq stock market has sent it a Staff Delisting Determination letter. The robotic surgery system developer plans to appeal the determination by requesting a hearing by June 4. Nasdaq, according to Titan Medical, claimed that the company had failed to comply with a rule that listed companies must have […]
Medtech 100 roundup: Stocks dip slightly after strong start to month
Medtech stocks ticked down over the course of last week as the COVID-19 pandemic continues to bear economic ramifications. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 82.4 points at the end of last week (May 15). That total represents a -1.9% decline from the 83.98-point […]
Titan Medical posts Q1 bottom-line gain
Titan Medical (TSX:TMD;OTC:TITFX) shares dipped today on first-quarter financial results that revealed a significant bottom-line resurgence. The Toronto-based surgical robotic technology developer posted losses of $768,043, or -2¢ per share for the three months ended March 31, 2020, for a 97.3% bottom-line gain from losses of nearly $28.3 million in the first quarter last year. Titan […]
Titan Medical may put itself up for sale
Titan Medical (TSX:TMD) CEO David McNally told shareholders today that the company must raise $85 million to finish developing its Sport robot-assisted surgery device and file for FDA clearance. The Toronto-based medical device company is considering raising that money through equity or debt, licensing, merger or acquisition. Titan Medical lost nearly half its value in October […]
Titan Medical prices offering for up to $25m for Sport robot-assisted surgery device
Titan Medical (TSX:TMD;OTC:TITFX) today priced an offering it hopes will bring in as much as $25 million, cash it desperately needs to resume development of its Sport robot-assisted surgery device. Earlier this month, shares in the Toronto-based company lost nearly half their value when Titan suspended the timeline on the Sport single-port surgery platform. The company […]
Titan Medical plunges on suspended timeline for Sport surgical robot
Titan Medical (TSX:TMD) shares lost nearly half their value this morning after the medical device company suspended the timeline for its Sport robot-assisted surgery device. Earlier this year the Toronto-based company pushed back the timeline for its 501(K) submission to the FDA from late this year to the first half of 2020. But late yesterday Titan […]
Titan Medical preps for up to $22m from overnight offering
Titan Medical (TSX:TMD;OTC:TITFX) yesterday registered an overnight offering it hopes will bring in as much as $22 million for the robot-assisted surgery platform it’s developing. Toronto-based Titan said the offering, which aims to raise a minimum of $18 million, will combine one share of stock and a single warrant; no prices have been set yet. The […]
