For many medical device companies, a patent is the only way for a company to guarantee the most profit from its product.
The press releases states that applications for further patents are pending in China and Europe for corresponding products and technology. This US patent brings the company’s total to 23 issued patents and 43 pending applications.
“This patent,along with others in process, protect core elements of our technology related to the articulation of our snake like arms of the system which enter the body through a single incision along with a camera and light source,” David McNally, president and CEO of Titan Medical told the Investing News Network (INN) in a telephone interview.
“As opposed to multi port systems, a single port reduces the potential trauma with a single port it also could lead to faster healing and discharge times from the hospital,” he continued, which he said may reduce healthcare and patient costs.
Though the company is still “perfecting” its technology, this year the company is preparing for regulatory submittals which are expected to take place in the second half of 2019, McNally said.
Titan is a pre-commercial medical device company specializing in single-port abdominal surgeries including general, gynecologic and urologic procedures. The company’s SPORT surgical system is a surgeon-controlled patient cart. It includes a 3D HD screen with multi-articulating instruments for procedures. By the camera and light, surgeons are able to see inside the patient’s body.
Since Tuesday’s announcement, the company’s stock price increased 3.85 percent to $0.27 at market close Wednesday (March 28). The current share price represents a 107.69 percent increase from the company’s 52-week low of $0.13 in July.
An equity report from MorningStar Wednesday (March 28) expects the company’s share price to steadily increase for the remainder of 2018 and in 2019. MorningStar gave the company a market value of $0.39 per share.
Investors may want to watch for the company’s Canadian public offering, which it is currently in the process of completing.“The success last year with preclinical evidence generated at our three centers of excellence surgeons are enthusiastic that titan medical will be a viable competitor in the single incision abdominal surgery market,” said McNally.
Overall Titan’s share price has experienced quite a bit of volatility in the last year, but investors should keep in mind the company is still pre-commercial. If regulatory approvals are consistent the company should meet their goal of submitting regulatory approvals in 2019.
Don’t forget to follow us @INN_LifeScience for real-time news updates!
Securities Disclosure: I, Gabrielle Lakusta, hold no direct investment interest in any company mentioned in this article.