MORRISVILLE – Shares in Asensus Surgical – formerly known as TransEnterix – climbed to $4.20 on Thursday, 10 times their value a year ago, as the robotic and medical instrument technology firm forecast a positive series of developments to come this year.
Its stock symbol recently was changed to ASXC on the NYSE American exchange, reflecting the name change made recently.
The company still reported a $13.8 million loss for the most recent quarter, but CEO Anthony Fernando is bullish. The loss and revenue at just over $1.1 million were better than expectations, according to business news site SeekingAlpha.
“We are very pleased with the momentum we generated during 2020 and particularly during the fourth quarter,” he said in a statement.
“This momentum continued into the early part of 2021 where we have already accomplished a number of significant milestones, including the bolstering of our balance sheet, the rebranding of the organization, and the introduction of our vision for Performance-Guided Surgery. As we look to the balance of 2021, we look to continue to drive the adoption of Senhance, bringing transformative technology to surgeons, hospitals and patients across the globe. Concurrently, we will work to expand the capabilities of Senhance and deliver on our surgical assurance framework.”
The maker of surgical robots and medical instruments posted revenue of $1.1 million in the period.
For the year, the company reported that its loss narrowed to $59.3 million, or 85 cents per share. Revenue was reported as $3.2 million.
2021 could be much better.
Asensus expects to install 10 – 12 new Senhance Surgical Systems.
During the first half of this year, the firm also expects to achieve two regulatory milestones:
- File for FDA 510(k) clearance for articulating instruments
- File for FDA 510(k) clearance for the next generation ISU features
Earlier this month, Asensus also received an additional FDA clearance for the Senhance Surgical System which allows for indication expansion in general surgery in the United States, the company noted.