TransEnterix CEO Pope, riding high on FDA nod, eyes the laparoscopic surgery market

Share prices for TransEnterix (NYSE:TRXC) have more than doubled since the robot-assisted surgery company won an important clearance from the FDA last week and CEO Todd Pope is optimistic about his companies chances against the undisputed market leader, Intuitive Surgical (NSDQ:ISRG).
Morrisville, N.C.-based TransEnterix, which acquired Senhance for $100 million in September 2015, finalized its clearance bid last month after applying in April; the federal safety watchdog granted 510(k) clearance last week, pushing TRXC shares up 92.5% to a $2.81 close yesterday; the stock had gained another 47.0% to reach $4.13 per share as of about 2:45 Eastern today.
Noting that most of the growth during Intuitive’s run – its flagship da Vinci platform hit the U.S. market in 2000 – came from the conversion of open surgeries to robot-assisted procedures, Pope told The Robot Report today that TransEnterix is aiming its Senhance device at converting laparoscopies.
Get the full story at our sister site, The Robot Report.
The post TransEnterix CEO Pope, riding high on FDA nod, eyes the laparoscopic surgery market appeared first on MassDevice.

Source: Mass Device - October 17, 2017 Category: Medical Devices Authors: Brad Perriello Tags: Food & Drug Administration (FDA) Robotics Wall Street Beat TransEnterix Source Type: news