TransEnterix Inc (NYSEAMERICAN: TRXC) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced that it has received CE Mark approval for its Senhance system. Of course, the news excited investors, sending the stock screaming for the top. Today, we’ll talk about:
- The approval;
- what we’re seeing from TRXC stock as a result; and
- what we’ll be watching for ahead.
TRXC Announces CE Mark Approval
As mentioned above, TransEnterix is having an incredibly strong start to the trading session this morning after announcing European approval. In a press release issued early this morning, the company said that it has received CE Mark approval for its Senhance Ultrasonic Instrument system.
TRXC said that advanced energy devices, including ultrasonic devices, represent some of the most versatile and critical tools for surgeons that practice in the world of minimally invasive surgery. The Senhance Ultrasonic Instrument system is designed to deliver a controlled amount of energy to effectively ligate and divide tissue, minimizing thermal injury to surrounding areas.
In a statement, Todd M. Pope, CEO at TRXC, had the following to offer:
Advanced energy devices are an important tool for laparoscopic surgeons because of their applicability within a wide range of procedures… We believe the addition of the Senhance Ultrasonic will help drive broader penetration of Senhance and help advance digital laparoscopy in Europe and other countries that accept CE Mark around the world.
The above statement was followed up by Proffessor Dietmar Stephan, M.D., Head of Minimally Invasive and Robotic Surgery at St. Marien Hospital in Siegen, Germany. Here’s what Dr. Stephan had to offer:
Ultrasonic energy devices are critical tools in managing complex surgeries while minimizing bleeding and trauma to surrounding tissue… In certain procedures, use of such advanced energy has become standard of care. The addition of this capability to the Senhance Digital Laparoscopic platform is a significant expansion of clinical applicability.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. In the case of TransEnterix, the news proved to be incredibly positive. After all, CE Mark approval means that the company can now commercialize its product to a vast European audience. So, it comes as no surprise that excited investors are sending the stock on a run for the top in the market this morning. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:13), TRXC is trading at $6.10 per share after a gain of $0.30 per share or 5.17% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on TRXC. In particular, we’re interested in following the efforts to commercialize the Senhance Ultrasonic system in Europe following the news of the approval. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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