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March 6, 2018
TransEnterix, Inc. Reports Operating Results for the Fourth Quarter and Full Year 2017
RESEARCH TRIANGLE PARK, N.C.(BUSINESS WIRE) TransEnterix, Inc. (NYSE American:TRXC), a medical device company that is digitizing the interface between the surgeon and the patient to improve minimally invasive surgery, today announced its operating and financial results for the fourth quarter and full year 2017.
|||Thus far in the quarter ending March 31, 2018, the Company has sold two Senhance Systems|
|||In January of 2018, the Company filed a FDA 510(k) submission to expand the indications for use of the Senhance System, potentially doubling the Senhance Systems total addressable procedures|
|||During the quarter ended December 31, 2017, the Company sold two Senhance Systems, including its first in the U.S.|
|||As of December 31, 2017, the Company had cash and restricted cash of approximately $97.6 million|
|||On December 18, 2017, the Company announced the sale of its SurgiBot assets, providing the Company with proceeds of at least $29 million as well as the option to commercialize the SurgiBot outside of China.|
|||On October 13, 2017, the Company received U.S. FDA 510(k) clearance for the Senhance System for use in colorectal and gynecologic laparoscopic surgery|
We made incredible progress during 2017, including the receipt of 510(k) clearance for the Senhance, the establishment of a global sales infrastructure, generating commercial momentum, and solidifying our balance sheet, said Todd M. Pope, President and CEO at TransEnterix. As we look to 2018, our focus is driving the commercial adoption of Senhance globally by leveraging our sales infrastructure, expanding our instrument offerings, broadening Senhances indications for use, and obtaining additional regulatory approvals in key geographies.
The following information was filed by Transenterix Inc. (TRXC) on Monday, March 12, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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