TransEnterix (NYSE: TRXC) reported tough but better-than-expected results for its second quarter as it navigates a challenging COVID-19 pandemic environment. The Research Triangle Park, N.C.–based robotic surgery company said yesterday evening that cost-saving initiatives and a $15 million underwritten public offering have provided enough cash to support operations into the second quarter of 2021. TransEnterix reported […]
TransEnterix
TransEnterix closes $15m offering
TransEnterix (NYSE:TRXC) announced that it closed its previously announced public offering with gross proceeds totaling approximately $15 million. Research Triangle Park, N.C.-based TransEnterix last week priced the offering of nearly 37.3 million shares of common stock at a public offering price of 35¢ per share, anticipating $13 million in proceeds, before deducting underwriter discounts and commissions […]
TransEnterix prices $13m offering
TransEnterix (NYSE:TRXC) announced today that it priced its previously announced common stock offering at approximately $13 million. Research Triangle Park, N.C.-based TransEnterix is offering nearly 37.3 million shares of common stock at a public offering price of 35¢ per share to total the $13 million in proceeds, before deducting underwriter discounts and commissions and expenses payable […]
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 […]
TransEnterix narrows losses in Q1, expects negative COVID-19 impact
TransEnterix (NYSE:TRXC) narrowed its losses during its first quarter amid a major strategy shift — but the COVID-19 pandemic is expected to have a negative impact on the robot-assisted surgery developer’s results. The Research Triangle Park, N.C.-based company said in a news release that it implemented fourth-quarter restructuring that reduced its workforce by approximately two-fifths prior […]
TransEnterix secures FDA clearance for ‘machine vision’ in robotic surgery
TransEnterix (NYSE:TRXC) said today that it has received FDA 510(k) clearance to add an artificial intelligence feature to its Senhance robotic surgery system. The new Intelligent Surgical Unit on the system enables the camera to automatically move for a surgeon during a procedure, responding to commands and recognizing certain objects and locations in the surgical field. TransEnterix […]
TransEnterix registers public offering
TransEnterix (NYSE:TRXC) announced that it commenced an underwritten offering of units of common stock, warrants and convertible preferred stock. The offering is expected to be comprised of a unit of common stock with warrants to purchase shares of common stock and a unit of convertible preferred stock with warrants to purchase shares of common stock. According […]
TransEnterix leases robotic surgery system to hospital in Japan
TransEnterix (NYSE:TRXC) said today that it has leased one of its Senhance robotic surgery systems to a hospital in Japan. The announcement comes nearly two months after the Research Triangle, N.C.-based company predicted lower earnings for the fourth quarter and full year of 2019 due to sluggish sales of the system. TransEnterix touts Senhance as a more […]
TransEnterix wins CE Mark for Sehance pediatric indication
TransEnterix (NYSE:TRXC) announced today that it has won a CE Mark for an expanded indication to treat children above 10 kg (22 lb) with the Senhance robotic surgery system. “Given the size of the patients, pediatric surgery seeks to use the smallest instruments and scopes possible to minimize invasiveness, yet it is critical to maintain a […]
TransEnterix to raise up to $25m from stock purchasing agreement
TransEnterix (NYSE:TRXC) could raise up to $25 million under a stock purchasing agreement with Lincoln Park Capital Fund. Under the agreement, announced yesterday, TransEnterix has a 36-month period to sell the stock — with money going toward the surgical robotic company’s general corporate purposes including working capital, product development and capital expenditures. “The company expects this […]
TransEnterix scores another leasing agreement for Senhance robot
TransEnterix (NYSE:TRXC) this week announced that the Klinikum Esslingen hospital near Stuttgart, Germany, has agreed to lease a Senhance robotic surgery system — the third leasing agreement in about three months for the company. Leasing robot-assisted surgery systems instead of selling them is an important strategic shift for TransEnterix as it seeks a turnaround in 2020. […]