TransEnterix provided its 2017 year-end report.
Here are five insights:
1. Throughout 2017, TransEnetrix’s Senhance System generated $7 million in revenue, a 360 percent increase compared to 2016. In the quarter ending Dec. 31, 2017, the company sold two Senhance Systems for $3.3 million.
2. TransEnterix obtained the CE mark on the first robotic micro-laparoscopic instruments in the world. Additionally, the company filed nearly 40 new U.S. patent applications. Currently, TransEnterix has 93 issued patients and around 92 pending applications.
3. On Dec. 18, 2017, the company entered into an agreement with Great Belief International Limited to expand TransEnterix’s SurgiBot System. TransEnterix will receive $29 million as part of the deal.
4. At the end of the year, TransEnterix’s held $97 million in cash and restricted rash. The company expects its capital to fund operations through 2019. Currently, TransEnterix has roughly 199 million outstanding shares of common stock.
5. In 2018, TransEnterix plans to expand its Senhance System, launch a new ultrasonic energy device and launch a new five millimeter articulating instrument platform.