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TransEnterix brings in $79.6M from stock offering

TransEnterix (NYSE:TRXC) recently announced that it has closed on a public offering of more than 26.5 million shares of its common stock, with roughly $79.6 million in aggregate gross proceeds for the surgical robotics company.

The offering, in combination with recent financing activity, extends TransEnterix’s cash runway into 2024. The money will go toward general corporate purposes, including working capital, product development and capital expenditures.

H.C. Wainwright & Co. was the offering’s sole book-running manager.

News of the fundraising comes weeks after TransEnterix received CE Mark approval for its Intelligent Surgical Unit, which adds AI-based capabilities to the company’s Senhance robotic surgery system.

DTW Podcast Ep. 42 – How the pandemic has accelerated, slowed medtech innovation

The pandemic has accelerated innovation in many ways but the physical pressures on entrepreneurs, innovators and engineers is very real.

In this episode of the DeviceTalks Weekly Podcast, a panel representing early-stage and tech transfer efforts explain how they’re helping individuals and young companies work through the unique challenges of the time, including finding capital, working with corporates, understanding opportunities in a changing healthcare market, seeing the silver linings

Guests include

Jennifer McCaney, PhD,,co-executive director, UCLA Biodesign Jackie Mejia, PhD, director, gBeta Medtech Scott Morley, director, office of economic partnerships, University of Pittsburgh

This conversation is a condensed version of our Jan. 19 DeviceTalks Tuesday. Go to DeviceTalks.com to watch the entire on-demand presentation.

Co-host Chris Newmarker, executive editor of MassDevice, also shares his top 5 stories of the week, aka, #Newmarker…

DTW Podcast Ep. 42 – How the pandemic has accelerated, slowed medtech innovation

The pandemic has accelerated innovation in many ways but the physical pressures on entrepreneurs, innovators and engineers is very real.

In this episode of the DeviceTalks Weekly Podcast, a panel representing early-stage and tech transfer efforts explain how they’re helping individuals and young companies work through the unique challenges of the time, including finding capital, working with corporates, understanding opportunities in a changing healthcare market, seeing the silver linings

Guests include

Jennifer McCaney, PhD,,co-executive director, UCLA Biodesign Jackie Mejia, PhD, director, gBeta Medtech Scott Morley, director, office of economic partnerships, University of Pittsburgh

This conversation is a condensed version of our Jan. 19 DeviceTalks Tuesday. Go to DeviceTalks.com to watch the entire on-demand presentation.

Co-host Chris Newmarker, executive editor of MassDevice, also shares his top 5 stories of the week, aka, #Newmarker…

The top 5 MassDevice stories of the week — January 22, 2021

It’s a new year with a new president who has new plans to fight the COVID-19 pandemic — a strategy that should be a big story for medtech in coming weeks.

Even as President Biden and COVID-19 dominated the news, the medical device industry saw some important news in the hot robotic surgery space and much more.

Want to hear more about the week’s top medtech news on MassDevice? Executive editor Chris Newmarker and Tom Salemi will discuss the week’s “Newmarker’s Newsmakers” — as well as play some drum and bugle corps music — during our DeviceTalks Weekly podcast.

Without further ado, here’s this week’s MassDevice Top Five:

5. DePuy Synthes lands FDA clearance for Velys robotic knee system

DePuy Synthes touts the Velys robotic-assisted platform as a first-of-its kind, table-mounted solution with an efficient design capable of integrating into any operating room. The company said it adapts to a surgeon’s workflow, offers control they are used to …

TransEnterix receives CE Mark for AI for its robotic surgery system

TransEnterix (NYSE:TRXC) announced today that it received CE Mark approval for its Intelligent Surgical Unit for the Senhance system.

The Intelligent Surgical Unit (ISU) enables machine vision capabilities on the Senhance surgical system, providing Senhance digital laparoscopic programs in Europe augmented intelligence capabilities in surgical settings, according to a news release. The FDA cleared the ISU in March 2020.

Research Triangle Park, N.C.-basd TransEnterix’s ISU platform is designed to recognize certain objects and locations in the surgical field, offering surgical teams improved collaboration by sharing the surgeon’s console view in real-time across the entire operating room.

Additionally, ISU features 3D point-to-point measurement and anatomical structure identification to enhance the digital laparoscopic experience with Senhance. ISU is compatible with Senhance and with third-party vision systems that are currently supported by S…

MedTech 100 roundup: Finally a dip as industry stays relatively strong

After three consecutive weeks of record-breaking numbers, medtech industry stocks finally fell backward over the past seven days.

MassDevice‘s MedTech 100 index finished last week at 105.8 (Jan. 15), marking a -0.95% drop from the 106.81 points (the highest ever total for the index) registered at the end of the week prior (Jan. 8). Medtech’s stock performance appeared to mirror overall markets as the S&P 500 Index saw a -1.5% loss, while the Dow Jones Industrial Average fared almost identically to medtech, falling by -0.91%.

The index still remains more than 13 points ahead of its pre-pandemic high of 92.32 on Feb. 19, 2020. Medtech’s lowest point during the COVID-19 pandemic remains at 62.13 on March 23. Since then, the industry’s stocks have experienced 70.3% growth in total, as of the end of last week. (Here are some of the best-performing medtech stocks from 2020.)

The industry continues to plug along and businesses continue to operate thro…

TransEnterix raises more than $31M in stock offering

TransEnterix (NYSE:TRXC) announced today that it has raised $31.25 million from several institutional investors in a direct offering of common stock.

The offering involves the sale of 25 million shares of TransEnterix common stock at a purchase price of $1.25 per share. The surgical robotics company plans to use the funds for general corporate purposes, including working capital.

The news of the money-raise comes more than two months after TransEnterix reported Street-beating Q3 results. Despite headwinds from the COVID-19 pandemic, TransEnterix reported continued momentum in placement and procedures involving its Senhance system.

TransEnterix has made a push into augmented intelligence with Senhance, which boasts haptic feedback, surgeon camera control via eye sensing, and improved ergonomics.

TransEnterix appoints CFO

Robotic surgery company TransEnterix (NYSE: TRXC) announced today that it has hired Shameze Rampertab as its news EVP and CFO.

“We are delighted to welcome Shameze to our team during this important time in TransEnterix’s journey,” TransEnterix CEo Anthony Fernando said in a news release. “His extensive experience at implementing financial strategies and sourcing equity and debt financing options will be invaluable as we continue towards our goals for 2020 and beyond. I am confident Shameze will make an immediate positive impact on the organization and help lead TransEnterix through its next phase of growth.”

Rampertab has over 20 years of financial leadership experience in the healthcare sector. He also spent time as an investment banker and sell-side equity research analyst. Most recently, he rose up to become interim CEO at animal health company Zomedica Pharmaceuticals.

TransEnterix recently reported tough but better-than-expected results for its seco…

MedTech 100 roundup: Another high as stocks tick up

For the third consecutive week, stocks in the medtech industry reached heights not yet seen since the COVID-19 pandemic began.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.65 points at the end of last week (Aug. 7). Overall, medtech stocks saw a 0.72% increase from the 89.01-point total at the same time a week prior (July 31).

On Aug. 5, the index reached 90.45 points, marking its highest point since that pre-pandemic high, with the previous mid-pandemic high (90.37) coming last week.

The most recent high mark represents just a -2% dip from the Feb. 19 high point of 92.32, marking the smallest margin of decline over the past five months.

Meanwhile, the S&P 500 Index saw a 2.5% increase from July 31 to Aug. 7, and the Dow Jones Index fared even better, positng a 3.8% rise over the same period of time.

Medtech’s lowest point during the COVID-19 pandemic remains at 62.13…

TransEnterix losses less than expected in Q2

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 earnings of –$14.1 million, or –27¢ per share, on sales of $700,000 for the three months ended June 30, 2020. The company earnings of –$20.2 million, or –$1.21 per share, off sales of $3.6 million during the same quarter a year ago.

Adjusted to exclude one-time items, earnings per share were –21¢, 17¢ ahead of The Street, where analysts were looking earnings of –38¢ per share on sales of $420,000.

“Despite operating in a challenging environment throughout the second quarter, we made significant progress towards our goals for the ye…

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 and expenses payable by the company.

Upon closing the offering, TransEnterix confirmed that the $15 million in gross proceeds includes the full exercise of the underwriter’s over-allotment option to purchase additional shares.

In total, the surgical robotics company issued nearly 42.9 million shares of common stock at 35¢ per share and expects total net proceeds of about $13.7 million, which is earmarked for general corporate purposes, including working capital, according to a news release.

Ladenburg Thalmann & Co. acted as sole book-ru…

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 by the company, according to a news release.

TransEnterix expects the offering to close on or about July 6, subject to customary closing conditions. The surgical robotics company also granted the underwriter a 45-day option to purchase up to nearly 5.6 million additional common stock shares at the public offering price.

All the shares in the offering are being sold by TransEnterix, which currently intends to use the net proceeds for general corporate purposes, including working capital. Ladenburg Thalmann & Co. is acting as sole book-running manager in connection …