TMDI - Titan Medical provides corporate update ahead of investor conference

Titan Medical ([[TMDI]] +13.2%) has issued a corporate update ahead of its presentation at H.C. Wainwright Global Life Sciences Conference scheduled for today.The company reported ~$65.5M of pro forma cash and cash equivalents as of January 31, 2021, up from $25.5M as of 2020 year-end.That includes the proceeds of over $30M in equity financings and $10M in warrant exercises in January and February 2021.Subject to the fulfillment of certain milestones of a license agreement with Medtronic, Titan expects to generate $21M in additional license revenue in 2021 after recording $20M in the previous year.For its Enos surgical system, the company plans to complete the product development, tooling for initial manufacturing and apply for an Investigational Device Exemption from the FDA over the next two years.In December, Titan announced that the federal agency has made a written request for more information regarding the regulatory requirements related to its Enos Robotic Single Access System.

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Titan Medical provides corporate update ahead of investor conference