Intraday Mover: TransEnterix Inc. (NYSE: TRXC)

On Friday, Shares of TransEnterix Inc. (NYSE: TRXC) showed the bullish trend with a higher momentum of 1.47% to $2.07. The company traded total volume of 1,541,294 shares as contrast to its average volume of 2.58M shares. The company has a market value of $445.32M and about 215.13M shares outstanding.

TransEnterix, Inc. (NYSE American: TRXC), a medical device company that is digitizing the interface between the surgeon and the patient to improve minimally invasive surgery, recently declared its financial results for the fourth quarter and full year 2018.

Fourth Quarter Financial Highlights:

For the three months ended December 31, 2018, the Company stated revenue of $7.50M as contrast to revenue of $3.40M in the three months ended December 31, 2017. Revenue in the fourth quarter of 2018 included $6.30M in system sales, $820.0K in instruments and accessories, and $383.0K in services.

For the three months ended December 31, 2018, total net operating expenses were $20.10M, as contrast to $17.80M in the three months ended December 31, 2017.

For the three months ended December 31, 2018, net loss was $6.40M, or $0.03 per share, as contrast to a net loss of $76.20M, or $0.40 per share, in the three months ended December 31, 2017.

For the three months ended December 31, 2018, adjusted net loss was $14.70M, or $0.07 per share, as contrast to an adjusted net loss of $14.10M, or $0.07 per share in the three months ended December 31, 2017, after adjusting for the following charges: change in fair value of warrant liabilities, amortization of intangible assets, change in fair value of contingent consideration, acquisition-related costs and SurgiBot sale gain/loss. Adjusted net loss is a non-GAAP measure.

The Company had cash and cash equivalents and short term investments of about $72.90M as of December 31, 2018. On October 23, 2018, Hercules Capital, Inc. funded the second tranche of $10.00M under the Hercules loa contract. The Company believes that it has sufficient cash and additional debt proceeds under the current agreement to fund the business into late 2020.

The Company offered its gross profit margin of 32.90%. ROE was recorded as -36.00% while beta factor was 2.46. The stock, as of recent close, has shown the weekly downbeat performance of -12.66% which was maintained at -8.41% in this year.

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