It's been a wild ride the last few days. I have to start considering my selling point and whether to just ride free shares.
Well, I bailed with my free shares the next day. After the first sale in the 5.70s I could not just let a $50K gain get away. I sold the rest in 4.70s. I will be looking to get back in the $3s, but at a smaller scale. This company has potential, and could even be a buyout candidate. It's just early, and I fear more dilution could be a reality in the next several months depending on sales and production. https://www.businesswire.com/news/home/20180702005292/en/ TransEnterix Provides Corporate Update Announces fourth Senhance System sale in second quarter of 2018 Preliminary unaudited revenue of $6.0 - $6.3 million for second quarter of 2018 Received FDA clearance for expanded indications for use for Senhance System Filed FDA 510(k) submission for additional Senhance System Instruments including 3mm diameter instruments July 02, 2018 06:55 AM Eastern Daylight Time RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--TransEnterix, Inc. (NYSE American:TRXC), a medical device company that is digitizing the interface between surgeons and patients to improve minimally invasive surgery, today provided a corporate update, including the announcement of the sale of an additional Senhance system as well as preliminary unaudited revenue for the second quarter ended June 30, 2018. “We look forward to continuing to build upon the momentum we developed during the first half of the year to drive the widespread adoption of Senhance.” Tweet this “We had a strong second quarter as we continued to drive sales of Senhance globally while at the same time making significant progress towards our 2018 goals, including the expansion of Senhance’s indications for use and portfolio of instruments,” said Todd M. Pope, President and CEO at TransEnterix. “We look forward to continuing to build upon the momentum we developed during the first half of the year to drive the widespread adoption of Senhance.” Second Quarter Senhance System Sales In June of 2018, the Company sold a Senhance System to an end user hospital through a distributor in the Company’s EMEA (Europe, Middle East, and Africa) region. This sale represents the fourth system sale during the second quarter of 2018, three of which (two in the EMEA region, one in the U.S.) have been previously announced. Preliminary Second Quarter Revenue Preliminary unaudited second quarter revenue is expected to be in the range of $6.0 million to $6.3 million, up from $1.5 million in the second quarter of 2017. Indication Expansion On May 29, 2018, the Company received FDA 510(k) clearance for expanded indications of its Senhance System for laparoscopic inguinal hernia and laparoscopic cholecystectomy (gallbladder removal) surgery. There are approximately 760,000 inguinal hernia and 1.2 million laparoscopic cholecystectomy procedures performed annually in the U.S. With this clearance, Senhance System's total addressable annual procedures in the U.S. has more than doubled to over three million. Instrument Portfolio Expansion On June 7, 2018, the Company announced that it had filed an FDA 510(k) submission for additional Senhance System instruments, including 3 millimeter diameter instruments. Balance Sheet On May 23, 2018, the Company entered into a loan and security agreement providing the company with up to $40.0 million in term loans. The initial tranche of the term loan, $20 million, was received at closing. The Company will be eligible to draw on the second tranche of $10 million upon achievement of certain Senhance System revenue-related milestones for its 2018 fiscal year, and a third tranche of $10 million upon achievement of designated trailing six months GAAP net revenue from Senhance sales. On the date of closing, the Company repaid all amounts owed under their previous loan provider. Preliminary unaudited cash and cash equivalents as of June 30, 2018 was approximately $98 million.
Expecting FDA decision within the next 3-4 weeks on their 510K FDA submission of 3MM tool. I will be buying in prior to that. Should get a bump.
