TransEnterix Archives - Medical Design Sourcing

Asensus Surgical dips as revenues fall short of Wall Street expectations

Asensus Surgical (NYSE:ASXC) shares slid today on fourth-quarter results that missed the consensus sales forecast.

The Research Triangle Park, North Carolina-based surgical robotics company posted losses of $15.9 million, or 7¢ per share, on sales of $2.1 million for the three months ended Dec. 31, 2021, for a slight bottom-line further into the red despite sales numbers that were more than tripled from this period a year ago.

Adjusted to exclude one-time items, losses per share were also 7¢, falling even with projections on Wall Street, where analysts were looking for sales of $1.5 million

Asensus Surgical President and CEO Anthony Fernando said in a news release that, despite headwinds throughout 2021, the company — formerly known as TransEnterix — grew its active installed base and produced the highest procedure volumes in the Senhance surgical robot’s commercial history.

“As we look towards 2022, we expect to continue to drive the global…

Asensus Surgical ticks up on Street-beating Q3 revenues

The Senhance surgical system pictured with the latest ISU mode [Image courtesy of Asensus Surgical]Asensus Surgical (NYSE:ASXC) shares rose after hours today on third-quarter results that topped the consensus sales forecast.

ASXC shares were up 10.3% at $2.04 after hours today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — closed the day down 0.1%.

The Research Triangle Park, North Carolina-based robotic surgery technology developer posted losses of $16.1 million, or 7¢ per share, on sales of $2.6 million for the three months ended Sept. 30, 2021, for a 6.5% bottom-line slide on massive sales growth from revenues of $814,000 this time last year.

Adjusted to exclude one-time items, losses per share were 6¢, which finished behind Wall Street projections of an even finish. The company beat The Street on revenues, though, as analysts were looking for sales of just $1 million.

“We are …

Asensus Surgical posts Q1 earnings beat

Asensus Surgical (NYSE:ASXC) shares are down today — a day after the company posted Q1 results that edged the consensus earnings forecast.

The Research Triangle Park, N.C.-based robotic surgery company — formerly known as TransEnterix — posted losses of -$17.3 million, or -8¢ per share, on sales of $2.1 million for the three months ended March 31, 2021, for a -4.5% bottom-line slide despite more than tripled revenue totals.

Adjusted to exclude one-time items, earnings per share were -6¢, coming in 1¢ ahead of analysts’ projections on Wall Street.

“We were pleased with our performance during the first quarter and with our strong start to the year. We acknowledge the pandemic around the world is still having impacts, but I’m encouraged by the signs of recovery this quarter,” Asensus Surgical president & CEO Anthony Fernando said in a news release yesterday evening. “We submitted for 510(k) clearance for articulating instruments, received FD…

Asensus Surgical rises on Street-beating Q4

Asensus Surgical (NYSE:ASXC) shares ticked up before hours today on fourth-quarter results that topped the consensus forecast.

The Research Triangle Park-based robotic surgery company, which recently changed its name from TransEnterix, posted losses of -$13.8 million, or -13¢ per share, on sales of $1.1 million for the three months ended Dec. 31, 2020, for a nearly unchanged bottom line on sales growth of 61%.

Adjusted to exclude one-time items, losses per share were -9¢, 2¢ ahead of Wall Street, where analysts were looking for sales of $1.06 million.

“We are very pleased with the momentum we generated during 2020 and particularly during the fourth quarter,” Asensus Surgical president & CEO Anthony Fernando said in a news release. “This momentum continued into the early part of 2021 where we have already accomplished a number of significant milestones, including the bolstering of our balance sheet, the rebranding of the organization, and the introduc…

MedTech 100 roundup: Industry sees largest fall since October

The medtech industry’s hot start to 2021 has finally come to a full halt after stocks fell harder than they had in more than four months.

MassDevice‘s MedTech 100 index ended the week (March 5) at 103.3 points, marking a -3.1% dip from the 106.65-point mark set one week before (Feb. 26). In less than a month, the fall has been more than seven points from the end-of-week tally of 110.63 points on Feb. 12.

Medtech’s lowest point of the week was on Thursday, March 4, when it fell to 102.85. The overall drop of about five points from the 107.88-point mark set on Monday, March 1, is the largest dip since the index slid from 97.2 to 91.01 between Oct. 23, 2020, and Oct. 30, 2020.

The all-time best for the index was 110.96, set just three days after that. The index had never reached even the 100-point mark before November 2020.

Still, the industry is in much better condition than it was around this time last year. Medtech’s latest mark means …

Asensus finalizes name change from TransEnterix, debuts NYSE ticker

Asensus Surgical (NYSE:ASXC) announced today that it formally completed its name and stock ticker change from TransEnterix (NYSE:TRXC).

Research Park Triangle, N.C.-based Asensus announced last month that the company would change its name from TransEnterix to Asensus Surgical and introduce a new surgery category. The company aims to enter a new era of performance-guided surgery focused on digitizing the interface between surgeons and patients to bring clinical intelligence that may enable better outcomes and, potentially, a new standard of surgery.

Effective today, the company’s stock is trading on the New York Stock Exchange American under the ASXC ticker. No actions are needed from current stockholders relative to the change. Shares of ASXC are currently trading at $4.08 per share, having closed yesterday down -10.1%.

Just this week, Asensus garnered its first regulatory nod since the name change, winning expanded FDA clearance for general surger…

Asensus Surgical wins FDA nod for general surgery with Senhance robotic surgery system

Asensus Surgical (NYSE:TRXC), formerly TransEnterix, announced that it won expanded FDA clearance for its Senhance surgical system.

Research Triangle Park, N.C.-based Asensus Surgical’s Senhance surgical system, which it touts as the first-of-its-kind digital laparoscopic platform that leverages augmented intelligence to provide strong performance and positive patient outcomes through machine learning, now has FDA clearance for indication expansion in general surgery, according to a news release.

The surgical robotic system provides assurance through haptic feedback, eye-tracking camera control and 3D visualization, while also being the first such platform offering 3mm instruments, which are the smallest available on a robotic surgical platform.

Senhance’s U.S. indication is for controlling laparoscopic instruments for visualization and endoscopic manipulation of tissue, including grasping, cutting, blunt and sharp dissection, approximation, …

MedTech 100 Roundup: Small slide continues

On the back of several weeks of new records and strong performances, the medtech industry has finally hit a snag in its recent ascent.

MassDevice‘s MedTech 100 index ended the week (Feb. 26) at 106.65 points, marking a 1.9% dip from the 108.72-point mark set one week before (Feb. 19). This highlights a similar drop from the week prior, when the index slid -1.7% from 110.63 points on Feb. 12.

The slide for the index was inevitable, given the heights to which it had been rising, but it is stark after exactly two weeks ago, on Monday, Feb. 15, the index hit its highest mark ever, though, rising to 110.96 points. That mark set an all-time best for the index, which had previously been rising for practically all of 2021. The index had never reached even the 100-point mark before November 2020.

Still, the industry is in much better condition than it was around this time last year. Medtech’s latest mark means the index has risen 15.5% from the pre-COVID-19 pande…

DTW Podcast: Geoff Martha updates Medtronic’s new course; AJAX CEO Duke Rohlen is funding innovation differently

Medtronic CEO Geoff Martha and Ajax CEO Duke Rohlen share insights and wisdom on this episode of the podcast.

Less than a year into his role as CEO, Geoff Martha and the Medtronic leadership has overseen a significant reorganization of medtech’s largest player.

In our closing keynote conversation, Martha says the company is clearing a minor COVID-19 bump and sees open road for the company to continue to grab share from competitors.

Martha details what products are gaining the most traction while also identifying those that still have some ground to gain.

We also discuss: When it may bring its renal denervation project to the FDA Why Hugo the surgical robot will be worth the wait (and why development has taken more than a decade) Whether or not Medtronic will collaborate more with private equity firms, early-stage incubators and maybe even SPACs? What will the company’s acquisition strategy look like in 2021. And why. Why the price-cutting for drug-eluting …

BREAKING: TransEnterix announces name change, new category of surgery

TransEnterix (NYSE:TRXC) announced today that it will change its name to Asensus Surgical and introduce a new category of surgery to its offerings.

Research Triangle Park, N.C.-based Asensus Surgical said in a news release that its name change represents its broader vision of shaping the future of surgery by integrating computer vision and machine learning with surgical robotics. Sensus is Latin for “cognition,” highlighting the connection between surgeons’ knowledge and the augmented intelligence technology, the company said.

Including “A” ahead of “sensus” is a hat-tip to augmented intelligence, while “Asensus” also represents “ascending” and elevating” as a tribute to the company’s efforts to elevate robotic surgery.

As a result of the name change, which is effective today, Asensus stock will begin trading under the ASXC ticker on the New York Stock Exchange at the open of t…

Could artificial intelligence boost surgical robotics to new heights?

Goldberg and his team trained a da Vinci surgical robot to automatically perform peg transfer slightly faster and more accurately than an experienced surgical resident. [Image courtesy of the Autolab at UC Berkeley]Ken Goldberg thinks artificial intelligence will enable surgical robots to achieve their best function — not replacing surgeons but augmenting their work by reducing the monotony of specific subtasks like suturing.

The William S. Floyd Jr. Distinguished Chair in Engineering at UC Berkeley, Goldberg and his research team have continued to advance the field.

The group — which includes postdoctoral researchers Minho Hwang and Jeffrey Ichnowski and PhD student Brijen Thananjeyan — has demonstrated how a deep neural network plus 3D-printed depth-sensing markers can train a da Vinci surgical robot to automatically perform peg transfer slightly faster and more accurately than an experienced surgical resident.

They also published a paper in Science Robot…

MedTech 100 roundup: Index rebounds from dip with another all-time high

The end of January saw the first major dip for the medtech industry but the beginning of February brought yet another peak.

MassDevice‘s MedTech 100 index ended the week (Feb. 5) at 108.23 points, marking a 4% rise from the 104.05-point mark set at the end of the previous week (Jan. 29).

The final mark for the week sets an all-time best for the index, which had previously reached 106.81 points on Jan. 8, then 107.4 points on Jan. 20. The rise has been remarkable, considering the index had never reached even the 100-point mark before November 2020.

Medtech’s latest rise means the index has risen 17.2% from the pre-COVID-19 pandemic high of 92.32, set on Feb. 19, 2020. Additionally, the industry has very much rebounded from its lowest place, a 62.13-point mark at the start of the pandemic on March 23, 2020. Since that point, the industry has jumped 74.2%.

Here are some of the best-performing medtech stocks from 2020.

Medtech’s performanc…