Computer assisted robotic surgery has been around for approximately two decades, giving surgeons a valuable helping hand in performing complex procedures for a variety of conditions with more precision and control than the traditional practices. One of the most famous is the da Vinci Surgical System of industry stalwart Intuitive Surgical (NASDAQ:ISRG) that is used in hospitals worldwide hundreds of thousands a time each year.
Toronto-based microcap Titan Medical Inc. (TSX:TMD)(OTCQB:TITXF) is looking to carve out a name for itself in the business, focusing its efforts on developing the single-port robotic surgical system branded the SPORT Surgical System. Comprised of a surgeon-controlled patient cart equipped with a 3D HD vision system, multi-articulating instruments and more, the SPORT system is being developed for multiple surgical indications, including general abdominal, gynecologic and urologic procedures.
According to Titan, the company took a big step forward recently, saying on Monday that the world's first gyneocologic, colorectal and urologic single-port robotic procedures using the SPORT system were successfully completed by the venerable experts at the Florida Hospital Nicholson Center in Celebration, Florida. The work represented the first preclinical feasibility and validation studies in support of moving forward towards regulatory submissions for the SPORT system.
In the Titan press release, Ricardo Estape, M.D., a robotic gynecologic oncology surgeon from South Miami Gynecology Oncology Group who specializes in robotic single port surgeries, praised the system, saying, "The SPORT Surgical System performed beyond my expectations and I was able to complete a variety of critical surgical tasks with the necessary dexterity and precision through a single incision."
Toronto-listed shares of Titan are responding strongly to the news, climbing 22.2% in early Monday trading to 27.5 cents. Shares had been struggling across 2017, falling from around 60 cents in January to a low last month at 12.5 cents before staging a rally in the past two weeks. U.S.-listed shares are trading similarly, surging 20.5% to $0.22 in early Monday action.