TITAN MEDICAL INC COM NPV (OTCMKTS:TITXF) is making huge gains on its robotic surgical systems that are used for minimally invasive surgeries. The stock surged over 9% on over 1 million shares trading hands. The share price has advanced over 50% in the last few trading days on increasingly heavy volume. TITXF closed at $0.918 on the OTC and $1.21 on the TSE (Toronto Stock Exchange).
An exciting and potentially powerful development for TITXF is the announcement that it had completed its first Surgical System and that it is a precursor of more systems to be built toward the beginning of this year. It is expected that in 2016, these systems will be used in first-in-human trails soon.
TITXF announced that it would be unveiling a new product at SAGES annual meeting in Boston. The product unveiling is for SPORT™. This is a surgical system used for minimally invasive surgeries and consists of two major developments and advancements. The first is surgeon-controlled robotic platform that includes a 3D high definition vision system and multi-articulating instruments for performing MIS procedures. The second significant development is dvanced ergonomic interface to the robotic platform for controlling the instruments, as well as a 3D view inside the patient’s body cavity during MIS procedures.
Current robotic technology for use on the market is extremely cost prohibitive for secondary hospitals and for ambulatory surgery centers. In addition only a few surgical procedures are wllowed to be done. The new product and surgical system is designed to expand robotic surgery into areas that are currently either unserved or vastly underserved. In addition, it will be done in a cost effective manner while maintaining the highest levels of quality.
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TITXF is currently trading at a $109 million market valuation. The recent developments of its initial build on its Surgical System and the growing industry for robots that perform surgeries is setting the company up for a huge success. This industry is growing at a rapid rate and will only continue to grow as robotic surgery becomes more cost effective. Healthcare is a growing expenses that governments are increasingly trying to find ways to reduce costs.
We will be updating on TITXF when more details emerge so make sure you are subscribed to Microcapspot so you know what’s going on with TITXF.
Disclosure: we hold no position in TITXF either long or short and we have not been compensated for this article.