In pre-market trading, Titan Medical Inc. (TMDI) shares were trading at $2.01, an increase of 11.67%. To close Wednesday’s session at $1.80, TMDI stock gained 14.65%. There were 1.39 million shares in TMDI stock traded, which was higher than the 0.75 million share average daily volume over the past 50 days. In the past week, TMDI stock has gained 7.14%, increasing by 81.10% over the past 12 months.
TMDI stock has gained 6.51% over the past three months, while it has shed -35.02% over the past six months. Further, TMDI has a current market of $197.15 million and its outstanding shares stood at 109.53 million. The TMDI stock is surging before its CEO participates in an investor conference today.
Where will TMDI Stock head meet investors?
Medical device company Titan Medical is headquartered in Toronto, Ontario, and has research and development facilities in Chapel Hill, North Carolina. TMDI uses innovative technology to enhance the surgical experience through robotic assisted surgery. To deliver a surgical experience that mimicks real-life movements and meets the needs of surgeons, TMDI is developing the Enos robotic single access surgical system.
Enos from TMDI includes multi-articulating instruments designed to provide surgeons with greater dexterity and the power necessary to complete common surgical tasks in a confined space. TMDI plans to initially target gynecological surgical indications with its Enos system.
During today’s Alliance Global Partners Virtual MedTech Summer Investor Conference, Titan Medical’s President and CEO, David McNally, and its Chief Financial Officer, Stephen Lemieux, will meet with investors.
Stephen Lemieux has been appointed as the Chief Financial Officer of TMDI this month. He has worked for many companies listed on the Nasdaq and TSX, mainly in the health care sector, for more than 18 years. Across his career, Mr. Lemieux has participated in or led debt and equity financings, licensing deals, and M&A transactions worth more than $400 million.
Lemieux is a Chartered Professional Accountant and graduated from the University of Toronto with a Master’s in Management and Professional Accounting degree. At a time when the Enos robotic single access surgical system is nearing several important milestones, Lemieux said it was an exciting time to join TMDI.
TMDI’s transition plan:
Having a proven track record and a vast understanding of financial systems and capital markets expertise of the newly appointed CFO will allow Titan Medical (TMDI) to evolve its financial strategy, achieve upcoming milestones, and execute its vision. Monique Delorme, TMDI’s previous CFO, has left the company effective immediately but is still retained through March 2022 in an advisory role.
