Shares of TransEnterix Inc. (NYSEAMERICAN:TRXC) soared in pre-market trade on Wednesday after the North Carolina medical device company posted smaller-than-expected losses.
TransEnterix soared 14% to US$2.09 in morning trade. A year ago, shares were trading at US$0.58.
For the quarter ended March 31, TransEnterix posted a loss of US$0.06 per share on revenue of US$4.8mln. The consensus estimate was a loss of US$0.07 per share on revenue of US$3.8 million.
TransEnterix is the maker of surgical robots and medical instruments used in minimally invasive surgery. The company is focused on commercializing its Senhance Surgical Robotic System, which gives surgeons greater haptic or tactile feedback, and eye sensing camera control.
“We generated momentum in the first quarter of 2018, including delivering the second consecutive quarter with multiple Senhance system sales and progressing our
The company sold two Senhance Systems in the first quarter and said on Tuesday that thus far in the current quarter it had sold three Senhance Systems, including one in the United States.
“Looking to the balance of 2018, we will continue to leverage the momentum we have generated to drive the global commercial adoption of Senhance,” said Pope.