MORRISVILLE — TransEnterix Inc. saw its stock price fall 5 percent early Monday following a 6.4 percent in after-hours trading Thursday when it reported earnings and revenue below analyst expectations.
TRXC shares traded at $3.06, down 16 cents early Monday.
Net loss for the third quarter of 2018 was $20.2 million, or 10 cents per share, compared to $38.5 million, or 26 cents per share, for the third quarter of the previous year.
Analysts were expecting a net loss of 7 cents per share.
Revenue for the quarter increased 2850 percent from 2017, totaling $5.4 million as compared to $183,000 in the third quarter of last year. Still, analysts were expecting revenue of $8.2 million.
The company’s shares fall 22 cents to $3.20 in after-market trading on Thursday and closed Friday at $3.22.
“We are proud of the progress we made during the third quarter, as we continued to drive adoption of the Senhance System by executing on our sales and marketing strategy and continuing to develop the capabilities of the Senhance System to deliver on our vision of digital laparoscopy,” said CEO Todd Pope in a statement.
TransEnterix, an RTP-based medical device company specializing in robotic surgery, was founded in 2006. The company is primarily focused on the commercialization of the Senhance system.
The company sold one Senhance system in the United States and three overseas during the quarter.
This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism
