New Risk • Aug 15
New major risk - Negative shareholders equity The company has negative equity. Total equity: -US$11m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$57m free cash flow). Negative equity (-US$11m). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$8.4m net loss in 3 years). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (3.3% increase in shares outstanding). Market cap is less than US$100m (US$76.3m market cap). Duyuru • Aug 08
Asensus Surgical, Inc. to Report Q2, 2024 Results on Aug 13, 2024 Asensus Surgical, Inc. announced that they will report Q2, 2024 results After-Market on Aug 13, 2024 Duyuru • Jul 23
Asensus Surgical Receives FDA 510(k) Clearance for Senhance Surgical System in Urology Asensus Surgical, Inc. announced that it has received 510(k) clearance from the U.S. Food and Drug Administration or an expanded indication to treat adult and pediatric Urology patients with the Senhance® Surgical System. Healthcare providers perform upwards of 185,000 urological surgical procedures each year in the United States. While the Senhance System has been successfully utilized for Urology procedures outside the U.S. for several years, this expanded indication will open the door to this important specialty to leverage the advantages of the Senhance System in the U.S. patient population. The Senhance Surgical System is designed to increase surgeon control and reduce variability through Augmented Intelligence and deep learning capabilities. New Risk • Jun 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$61m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$17m net loss in 3 years). Shareholders have been diluted in the past year (14% increase in shares outstanding). Market cap is less than US$100m (US$63.9m market cap). Reported Earnings • May 16
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: US$83.55 loss per share (further deteriorated from US$0.093 loss in 1Q 2023). Revenue: US$1.12m (up 15% from 1Q 2023). Net loss: US$22.5m (loss widened 1.3% from 1Q 2023). Revenue missed analyst estimates by 6.2%. Earnings per share (EPS) also missed analyst estimates by 60%. Revenue is forecast to grow 50% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 50% per year, which means it is significantly lagging earnings. Major Estimate Revision • May 16
Consensus revenue estimates fall by 20% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$12.3m to US$9.80m. Forecast losses increased from -US$0.185 to -US$0.27 per share. Medical Equipment industry in the US expected to see average net income growth of 18% next year. Consensus price target of US$0.35 unchanged from last update. Share price was steady at US$0.26 over the past week. Duyuru • May 09
Asensus Surgical, Inc. to Report Q1, 2024 Results on May 14, 2024 Asensus Surgical, Inc. announced that they will report Q1, 2024 results After-Market on May 14, 2024 New Risk • Apr 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-US$64m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$24m net loss in 3 years). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (14% increase in shares outstanding). Market cap is less than US$100m (US$77.5m market cap). Duyuru • Apr 04
KARL STORZ SE & Co. KG entered into an agreement to acquire Asensus Surgical, Inc. (NYSEAM:ASXC) for $100 million. KARL STORZ SE & Co. KG entered into an agreement to acquire Asensus Surgical, Inc. (NYSEAM:ASXC) for $100 million on March 28, 2024. As part of consideration, KARL STORZ SE & Co. will pay $0.35 in cash for each share of Asensus Surgical. If the proposed transaction is consummated, Asensus will cease to be a publicly traded company. The Bridge Loan will enable Asensus to receive a loan of up to $20 million from KARL STORZ to support the Company’s operations through the exclusivity period. The transaction is subject to, among other conditions, completion of due diligence by KARL STORZ, negotiation of a definitive merger agreement, a recommendation by the Transaction Committee and approval by the Board of Directors and stockholders of Asensus Surgical, and other customary closing conditions to be included in the definitive merger agreement, if any. If negotiations are terminated during the exclusivity period, or, if entered into, the definitive merger agreement is terminated, KARL STORZ will cease to provide any additional bridge financing and the Asensus Surgical will be required to repay the Bridge Loan to KARL STORZ within a prescribed period.
Jefferies LLC acted as financial advisor to Asensus Surgical. Reported Earnings • Mar 22
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: US$0.31 loss per share. Revenue: US$8.58m (up 21% from FY 2022). Net loss: US$78.4m (loss widened 3.8% from FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.6%. Revenue is forecast to grow 46% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Medical Equipment industry in the US. Duyuru • Mar 16
Asensus Surgical, Inc. to Report Q4, 2023 Results on Mar 21, 2024 Asensus Surgical, Inc. announced that they will report Q4, 2023 results at 4:00 PM, US Eastern Standard Time on Mar 21, 2024 Recent Insider Transactions Derivative • Feb 07
President exercised options and sold US$131k worth of stock On the 4th of February, Anthony Fernando exercised options to acquire 485k shares at no cost and sold these for an average price of US$0.27 per share. This trade did not impact their existing holding. For the year to December 2017, Anthony's total compensation was 18% salary and 82% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2023, Anthony has owned 1.49m shares directly. Company insiders have collectively bought US$38k more than they sold, via options and on-market transactions, in the last 12 months. Major Estimate Revision • Jan 20
Consensus revenue estimates increase by 10% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from US$7.79m to US$8.59m. EPS estimate unchanged from -US$0.32 at last update. Medical Equipment industry in the US expected to see average net income growth of 20% next year. Consensus price target of US$2.00 unchanged from last update. Share price fell 9.9% to US$0.29 over the past week. Duyuru • Jan 08
Asensus Surgical, Inc. Provides Unaudited Earnings Guidance for the Quarter and Full Year Ending on December 31, 2023 Asensus Surgical, Inc. provided unaudited guidance For the quarter and full year ending on December 31, 2023. For the quarter, the company estimates preliminary unaudited revenue of approximately $5.1- $5.7 million. For the full year, preliminary unaudited 2023 revenue is expected to be approximately $8.2 - $8.8 million, representing revenues from the sale of three Senhance Systems, multiple system leases, and related revenues from instruments, accessories, and services. Duyuru • Jan 05
Asensus Surgical, Inc. Develops the LUNA Surgical System Asensus Surgical, Inc. announced a key development milestone for LUNA, the Company’s second-generation surgical robotic system. During the week of December 11, 2023, the Company hosted a Surgeon Lab in Research Triangle Park, North Carolina to conduct an in vivo evaluation of LUNA’s hardware, software and instruments in porcine models. The lab allowed nine participating surgeons to evaluate the system's functionality through thirteen different procedures across gynecology, urology, and general surgery. LUNA, the Company’s Next Generation Digital Surgery Platform: LUNA is designed to elevate the standards of robotic-assisted surgery. The system integrates carefully crafted hardware and software architecture to prioritize safety, reliability, and performance. LUNA's features include a surgeon console with unconstrained handles, an interactive touchscreen, and an Ultra-HD 3D monitor. Additionally, the system boasts up to four independent robotic manipulator arms for procedural flexibility, alongside a unique instrument drive system supporting various advanced instrumentation options. LUNA is currently under development and has not been submitted to, or cleared by, the US FDA or other global regulators, and is not available for sale in any market. Reported Earnings • Nov 17
Third quarter 2023 earnings: EPS in line with expectations, revenues disappoint Third quarter 2023 results: US$0.072 loss per share (improved from US$0.08 loss in 3Q 2022). Revenue: US$1.09m (down 57% from 3Q 2022). Net loss: US$18.3m (loss narrowed 3.2% from 3Q 2022). Revenue is forecast to grow 56% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Duyuru • Nov 08
Asensus Surgical, Inc. to Report Q3, 2023 Results on Nov 14, 2023 Asensus Surgical, Inc. announced that they will report Q3, 2023 results After-Market on Nov 14, 2023 Reported Earnings • Aug 11
Second quarter 2023 earnings: EPS misses analyst expectations Second quarter 2023 results: US$0.086 loss per share (further deteriorated from US$0.083 loss in 2Q 2022). Revenue: US$1.08m (up 8.8% from 2Q 2022). Net loss: US$20.7m (loss widened 5.3% from 2Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 52% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Duyuru • Aug 03
Asensus Surgical, Inc. to Report Q2, 2023 Results on Aug 10, 2023 Asensus Surgical, Inc. announced that they will report Q2, 2023 results After-Market on Aug 10, 2023 New Risk • Jul 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-US$61m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$41m net loss in 3 years). Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (US$71.8m market cap). Major Estimate Revision • May 18
Consensus EPS estimates fall by 23% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -US$0.26 to -US$0.32 per share. Revenue forecast of US$8.67m unchanged since last update. Medical Equipment industry in the US expected to see average net income growth of 18% next year. Consensus price target of US$1.65 unchanged from last update. Share price fell 15% to US$0.58 over the past week. Reported Earnings • May 13
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: US$0.093 loss per share (further deteriorated from US$0.081 loss in 1Q 2022). Net loss: US$22.2m (loss widened 16% from 1Q 2022). Revenue missed analyst estimates by 39%. Earnings per share (EPS) also missed analyst estimates by 20%. Revenue is forecast to grow 49% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 116% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Mar 09
Consensus revenue estimates fall by 34% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$17.0m to US$11.2m. Forecast losses increased from -US$0.25 to -US$0.26 per share. Medical Equipment industry in the US expected to see average net income growth of 17% next year. Consensus price target down from US$2.25 to US$1.75. Share price fell 2.3% to US$0.67 over the past week. Price Target Changed • Mar 06
Price target decreased by 21% to US$1.75 Down from US$2.22, the current price target is an average from 2 analysts. New target price is 159% above last closing price of US$0.68. Stock is up 9.5% over the past year. The company is forecast to post a net loss per share of US$0.26 next year compared to a net loss per share of US$0.32 last year. Reported Earnings • Mar 03
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: US$0.32 loss per share (further deteriorated from US$0.28 loss in FY 2021). Net loss: US$75.6m (loss widened 21% from FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.9%. Revenue is forecast to grow 69% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 120% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions Derivative • Feb 08
President exercised options and sold US$406k worth of stock On the 4th of February, Anthony Fernando exercised options to acquire 542k shares at no cost and sold these for an average price of US$0.75 per share. This trade did not impact their existing holding. For the year to December 2016, Anthony's total compensation was 6% salary and 94% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2022, Anthony has owned 823.12k shares directly. Company insiders have collectively sold US$253k more than they bought, via options and on-market transactions in the last 12 months. Duyuru • Jan 10
Asensus Surgical, Inc. Provides Unaudited Revenue Guidance for the Fourth Quarter and Full Year 2022 Asensus Surgical, Inc. provided unaudited revenue guidance for the Fourth quarter and Full year 2022. For the quarter, the company expected unaudited revenue is to be approximately $2.2 million - $2.8 million. For the year, the company expected unaudited revenue is to be approximately $6.8 million - $7.4 million. Board Change • Dec 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. 3 highly experienced directors. President, CEO & Director Anthony Fernando was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Major Estimate Revision • Nov 17
Consensus revenue estimates fall by 17% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from US$9.15m to US$7.60m. Forecast losses increased from -US$0.31 to -US$0.32 per share. Medical Equipment industry in the US expected to see average net income growth of 14% next year. Consensus price target of US$2.25 unchanged from last update. Share price rose 8.3% to US$0.44 over the past week. Reported Earnings • Nov 16
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: US$0.08 loss per share (further deteriorated from US$0.069 loss in 3Q 2021). Net loss: US$18.9m (loss widened 18% from 3Q 2021). Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 60% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has fallen by 48% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 12
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: US$0.08 loss per share (further deteriorated from US$0.069 loss in 3Q 2021). Net loss: US$18.9m (loss widened 18% from 3Q 2021). Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 60% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has fallen by 49% per year, which means it is significantly lagging earnings. Price Target Changed • Nov 05
Price target decreased to US$2.25 Down from US$4.00, the current price target is an average from 2 analysts. New target price is 456% above last closing price of US$0.41. Stock is down 81% over the past year. The company is forecast to post a net loss per share of US$0.31 next year compared to a net loss per share of US$0.28 last year. Duyuru • Nov 01
Asensus Surgical, Inc. to Report Q3, 2022 Results on Nov 10, 2022 Asensus Surgical, Inc. announced that they will report Q3, 2022 results After-Market on Nov 10, 2022 Duyuru • Aug 10
Asensus Surgical, Inc. Announces Impairment Charges for Three Months Ended June 30, 2022 Asensus Surgical, Inc. announced impairment charges for three months Ended June 30, 2022. For the period, the company announced Property and equipment impairment of $432,000. Duyuru • Jul 28
Asensus Surgical, Inc. to Report Q2, 2022 Results on Aug 08, 2022 Asensus Surgical, Inc. announced that they will report Q2, 2022 results at 4:00 PM, US Eastern Standard Time on Aug 08, 2022 Duyuru • Jun 29
Asensus Surgical, Inc. to Showcase the Senhance Surgical System and Performance-Guided Surgery in Upcoming Society of Robotic and Digital Surgery Conference Asensus Surgical, Inc. announced the will be participating in the Society of Robotic and Digital Surgery Conference from June 30, 2022 until July 3, 2022 in Lake Buena Vista, Florida. Asensus Surgical's technology platform, Senhance® Surgical System, is the first of its kind digital laparoscopic platform that leverages augmented intelligence to provide unmatched performance and patient outcomes through machine learning. Senhance goes beyond the typical surgical robotic systems, providing surgical assurance through haptic feedback, eye-tracking camera control, and 3D visualization, and is the first platform to offer 3mm instruments (the smallest instrument available in the world on a robotic surgical platform). The Senhance Surgical System is powered by the Intelligent Surgical Unit (ISU™). The ISU enables machine vision-driven tools to gather data related to anatomical structures and control of the camera for a surgeon by responding to commands and recognizing certain objects and locations in the surgical field and allows a surgeon to change the visualized field of view using the movement of their instruments. As an organization, the Company’s goal is to revolutionize the way surgery is performed. The Company is helping to unlock clinical intelligence and capabilities to reduce surgical variability and the complications associated with it. Performance-Guided Surgery builds upon the foundation of Digital Laparoscopy by adding machine vision, augmented intelligence, and deep learning capabilities, and will be built upon the digital library of data collected from surgeries performed using Senhance. The insights gained from these cases will help deliver on the promise of consistently superior surgery regardless of a surgeon’s experience or skill level by guiding improved decision making, enriching collaboration, and enhancing predictability. Duyuru • Apr 26
Asensus Surgical, Inc., Annual General Meeting, Jun 14, 2022 Asensus Surgical, Inc., Annual General Meeting, Jun 14, 2022, at 11:00 US Eastern Standard Time. Agenda: To consider the election of the seven director nominees named in the attached proxy statement to serve as directors until the next annual meeting of stockholders and until their successors are elected and qualified; to consider an advisory vote to approve the compensation paid to the Company’s named executive officers for 2021; to consider ratification of the appointment of BDO USA, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2022; and to consider the transaction of such other business as may lawfully come before the Annual Meeting or at any adjournment or postponement. Duyuru • Feb 24
Asensus Surgical, Inc. to Report Q4, 2021 Results on Feb 28, 2022 Asensus Surgical, Inc. announced that they will report Q4, 2021 results After-Market on Feb 28, 2022 Duyuru • Sep 29
Asensus Surgical, Inc. Announces Purchase of Senhance Robotic System by Loginov Moscow Clinical Scientific Center Asensus Surgical, Inc. announced that Loginov Moscow Clinical Scientific Center, located in Moscow, Russia, has initiated its Senhance® Robotic Surgery program following the purchase of a Senhance Surgical System. The installation represents the first Senhance Surgical System to be used within Russia. Asensus Surgical's technology platform, Senhance Surgical System, is the first of its kind digital laparoscopic platform that leverages augmented intelligence to provide unmatched performance and patient outcomes through machine learning. Senhance goes beyond the typical surgical robotic systems, providing surgical assurance through haptic feedback, eye-tracking camera control, and 3D visualization, and is the first platform to offer 3 mm instruments (the smallest instrument available in the world on a robotic surgical platform). The Senhance Surgical System is powered by the Intelligent Surgical Unit™ (ISU™). The ISU enables machine vision-driven control of the camera for a surgeon by responding to commands and recognizing certain objects and locations in the surgical field, and allows a surgeon to change the visualized field of view using the movement of their instruments. The newest ISU features expand upon these capabilities and introduce more advanced features including: 3D measurement, digital tagging, image enhancement, and enhanced camera control based on real-time data from anatomical structures while performing surgery. The Loginov Moscow Clinical Scientific Center (The Loginov MCSC) is one of the and most innovative institutions funded by the Moscow Health Department. The Loginov MCSC is a multi-disciplinary clinical, research, and training center hosting 48 medical departments, employing around 500 doctors, and performing more than 13,000 annual operations. The Loginov MCSC is headed by Professor Igor Khatkov, a proponent of minimally invasive surgical technologies and a world leader in laparoscopic pancreatic surgery. Since its founding in July 2013, The Loginov MCSC has spent considerable resources on educational activities. The training center trains specialists in 12 medical specialties in residency and four specialties in fellowship. The center features a program for the development of robotic surgery, headed by Professor Nikolay Matveev, carried out in cooperation with the Department of Surgery of the Biomedical Faculty, Pirogov Russian National Research Medical University. Duyuru • Sep 02
Asensus Surgical Receives FDA 510(k) Clearance for Expansion of Machine Vision Capabilities Asensus Surgical, Inc. announced that it has received 510(k) clearance from the FDA for an expansion of machine vision capabilities on the previously cleared Intelligent Surgical Unit™ (ISU™). The ISU is utilized with the Company’s Senhance Surgical System which enables Digital Laparoscopy. The current features of the ISU enable machine vision-driven control of the camera for a surgeon by responding to commands and recognizing certain objects and locations in the surgical field, and allow a surgeon to change the visualized field of view using the movement of their instruments. The newest ISU features expand upon these capabilities and introduce more advanced features including: 3D measurement, digital tagging, image enhancement, and enhanced camera control based on real-time data from anatomical structures while performing surgery. This will be the first time any of these features will be clinically available in soft-tissue abdominal surgery. The 3D measurement feature enables the surgeon to use their instruments to designate points on the tissue floor to determine both straight-line distances as well as true topographic distances over the folds and recesses of the abdominal cavity. In traditional minimally invasive surgery, such measurements are estimated or require the use of a sterile measuring tape inside the abdominal cavity. Now 3D measurement allows for accurate readings to millimeter-level accuracy that can assist in various surgical tasks, such as the sizing of hernia mesh or the planning of a staple line. These measurement capabilities represent the first time surgeons have the ability to acquire accurate, real-time measurements without the need for additional tools. Duyuru • May 15
Asensus Surgical, Inc. Expects to File for FDA 510(K) Clearance for the Next Wave of ISU Features During the Second Quarter of 2021 and Expects to Publish Clinical Papers in Peer Reviewed Journals on Health Economic Evidence Comparing Senhance, Robotics and Laparoscopy in General Surgery and Gynecology Asensus Surgical, Inc. announced that during the second quarter of 2021, the Company expects to achieve the following regulatory milestones: File for FDA 510(k) clearance for the next wave of ISU features.
During the second half of 2021, the Company expects to publish clinical papers in peer reviewed journals on the following subjects: Health economic evidence comparing Senhance, robotics and laparoscopy in General Surgery and Gynecology. Duyuru • Mar 05
Asensus Surgical, Inc. to Report Q4, 2020 Results on Mar 11, 2021 Asensus Surgical, Inc. announced that they will report Q4, 2020 results After-Market on Mar 11, 2021 Duyuru • Mar 04
Asensus Surgical Announces FDA Clearance in General Surgery Asensus Surgical, Inc. announced the company has received an additional FDA clearance for the Senhance Surgical System which allows for indication expansion in general surgery in the United States. Asensus Surgical's technology platform, Senhance® Surgical System, is the first of its kind digital laparoscopic platform that leverages augmented intelligence to provide unmatched performance and patient outcomes through machine learning. Senhance goes beyond the typical surgical robotic systems, providing surgical assurance through haptic feedback, eye-tracking camera control, and 3D visualization, and is the first platform to offer 3 mm instruments (the smallest instrument available in the world on a robotic surgical platform). The Senhance Surgical System is intended to assist in the accurate control of laparoscopic instruments for visualization and endoscopic manipulation of tissue including grasping, cutting, blunt and sharp dissection, approximation, ligation, electrocautery, suturing, mobilization, and retraction. The Senhance Surgical System is intended for use in general laparoscopic surgical procedures and laparoscopic gynecological surgery. The system is indicated for adult use. It is intended for use by trained physicians in an operating room environment in accordance with the instructions for use. Duyuru • Jan 29
TransEnterix, Inc. has completed a Follow-on Equity Offering in the amount of $69.249999 million. TransEnterix, Inc. has completed a Follow-on Equity Offering in the amount of $69.249999 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 23,083,333
Price\Range: $3
Discount Per Security: $0.225 Duyuru • Jan 15
TransEnterix, Inc. has completed a Follow-on Equity Offering in the amount of $31.25 million. TransEnterix, Inc. has completed a Follow-on Equity Offering in the amount of $31.25 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 25,000,000
Price\Range: $1.25
Discount Per Security: $0.096875
Transaction Features: Registered Direct Offering Duyuru • Dec 19
TransEnterix, Inc. Announces Southern Surgical Hospital to Initiate a Senhance Digital Laparoscopic Program TransEnterix, Inc. announced that Southern Surgical Hospital has entered into an agreement to lease and utilize a Senhance Surgical System. The Senhance System is the first new abdominal robotic surgery platform to receive FDA clearance since 2000. It is the first and only digital laparoscopic surgical platform designed to maintain laparoscopic minimally invasive surgical standards while providing digital benefits such as haptic feedback, robotic precision, comfortable ergonomics, advanced instrumentation including 3 mm microlaparoscopic instruments, eye-sensing camera control, and reusable standard instruments to help maintain per-procedure costs similar to traditional laparoscopy. TransEnterix recently launched the first machine vision system in robotic surgery. This first-of-its-kind augmented intelligence capability is powered by the new Intelligent Surgical Unit on the Senhance Surgical System. Duyuru • Dec 18
TransEnterix Announces Approval of Senhance Surgical System in Russian Federation TransEnterix, Inc. announced that the Senhance® Surgical System has received its registration certificate by Roszdravnadzor, the Russian medical device regulatory agency allowing for its sale and utilization throughout the Russian Federation. Duyuru • Oct 28
TransEnterix, Inc. to Report Q3, 2020 Results on Nov 05, 2020 TransEnterix, Inc. announced that they will report Q3, 2020 results on Nov 05, 2020 Duyuru • Oct 14
TransEnterix, Inc. Announces First Pediatric Surgical Cases with Senhance® Surgical System TransEnterix, Inc. announced that surgeons at Maastricht University Medical Center+ (MUMC+) in the Netherlands, have successfully operated on multiple pediatric patients, becoming the first pediatric surgical program in the world to utilize the Senhance® Surgical System and integrate digital laparoscopy with instruments as small as 3 mm into their standard of surgical care.
The SenhanceSurgical System is the first and only digital laparoscopic platform designed to maintain laparoscopic minimally invasive surgery standards while providing digital benefits such as haptic feedback, robotic precision, eye-sensing camera control, comfortable ergonomics, advanced instrumentation including 3 mm microlaparoscopic instruments, and reusable standard instruments to help maintain per-procedure costs similar to traditional laparoscopy. Duyuru • Oct 08
TransEnterix Announces Toshima Hospital in Japan to Initiate A Senhance® Digital Laparoscopy Program TransEnterix, Inc. announced that the Toshima Hospital of the Tokyo Metropolitan Health and Hospitals Corporation has entered into an agreement to lease and utilize a Senhance® Surgical System. Toshima Hospital is a comprehensive inpatient and outpatient facility with 415 inpatient beds, and is affiliated with the Tokyo Medical and Dental University. The hospital is part of the six hospital network operated by the Tokyo Metropolitan Health and Hospitals Corporation to provide excellence in healthcare and promote the welfare of the citizens of the Tokyo metro area. The Senhance Surgical System is the first and only digital laparoscopic platform designed to maintain laparoscopic minimally invasive surgical standards while providing digital benefits such as haptic feedback, robotic precision, eye-sensing camera control, comfortable ergonomics, advanced instrumentation including, 3 mm microlaparoscopic instruments, and reusable standard instruments to help maintaining per-procedure costs similar to traditional laparoscopy. The Senhance Surgical System was approved for use by the Japanese Ministry of Health, Labor and Welfare (MHLW) in 2019, and has the broadest procedural reimbursement of any abdominal robotic surgery platform in Japan, which applies to 98 benign and malignant laparoscopic procedures across general, colorectal, gynecologic, pediatric and urologic surgeries at reimbursement rates equivalent to traditional laparoscopy in Category A1. Duyuru • Aug 23
Transenterix, Inc. Not Provide Revenue Guidance TransEnterix, Inc. announced that given the continued uncertainty that exists within the global healthcare market, the company cannot currently predict the specific extent or duration of the impact of the COVID-19 outbreak on its financial and operating results. As a result, the company is not providing forward looking revenue guidance at this time. Duyuru • Aug 06
TransEnterix, Inc. Contemplates Bankruptcy TransEnterix, Inc. is contemplating filing for bankruptcy, as of August 5, 2020. According to SEC filing, the ability of the company to continue as a going concern is dependent on the company obtaining adequate capital to fund operating losses until it becomes profitable. Management's plan to obtain additional resources for the company may include additional sales of equity, traditional financing, such as loans, entry into a strategic collaboration, entry into an out-licensing arrangement or provision of additional distribution rights. If such sufficient funds are not received on a timely basis, the company would then need to pursue a plan to license or sell its assets, seek to be acquired by another entity, cease operations and/or seek bankruptcy protection. Duyuru • Jul 23
TransEnterix, Inc. to Report Q2, 2020 Results on Aug 05, 2020 TransEnterix, Inc. announced that they will report Q2, 2020 results on Aug 05, 2020 Duyuru • Jul 05
TransEnterix, Inc.(AMEX:TRXC) dropped from Russell Microcap Growth Index TransEnterix, Inc.(AMEX:TRXC) dropped from Russell Microcap Growth Index Duyuru • Jul 04
TransEnterix, Inc.(AMEX:TRXC) dropped from Russell 2000 Dynamic Index TransEnterix, Inc.(AMEX:TRXC) dropped from Russell 2000 Dynamic Index Duyuru • Jun 22
TransEnterix, Inc.(AMEX:TRXC) dropped from S&P Global BMI Index TransEnterix, Inc.(AMEX:TRXC) dropped from S&P Global BMI Index