TransEnterix is developing the SurgiBot, the first device to directly compete with Intuitive Surgical. In April of 2014, TransEnterix priced their secondary offering on the worst day the Nasdaq had experienced since 2011, which sent their secondary offering price from the $8.00 range to $4.00. In June of 2014 the company was included in the Russell 2000, which resulted in a runup to the $6.00 range. TransEnterix delayed the filing of their SurgiBot device by 6 months in November, which caused the one month sell off to an all time low of $1.50. Now that the company is nearing FDA submission of the SurgiBot, and after several presentations at health care conferences, TRXC is attempting to buck the down trend once and for all. I'm long TRXC, from a fundamental perspective, rather than a technical one. The first fib retracement from April 2014 highs to December 2014 lows is $4.30, then near $6.00
I use to provide car service to ISRG in Atlanta. I use to pick up all of the doctors who came in to do training on the DaVinci system. They all said that it was slow and that unless your surgery required to operate in very small places that would prefer to operate the conventional way. Up until now ISRG has had no competition. Most doctors who took the training said they just took it to upgrade their portfolio and that it would allow them to charge more money for their services. I also believe that Google and JNJ or some other company may soon be interested in TRXC. The system is cheaper and mobile and is easier to use.