Toronto-based Titan Medical (NASDAQ:TMDI) is a small company in the growing medical robotic equipment space. The company is developing its Enos system—a potentially new standard of care in robotic single access surgery. But should investors scoop up its shares at this stage? Let’s find out.Based in Toronto, Canada, Titan Medical Inc. (TMDI) is a micro-cap company in the growing medical devices space. It has $182.57 million in market capitalization and is focused on developing computer-assisted robotic surgical technologies for application in minimally invasive surgery (MIS). According to a report by Market Research Engine, the global medical robotic system market is expected to grow at a CAGR of 14.5% over the next four years. However, TMDI is not yet positioned favorably to capitalize on the industry tailwinds.
TMDI’s stock has lost 15.4% over the past month to close yesterday’s trading session at $1.70. It is currently trading 51% below its 52-week high of $3.47.
On December 24, TMDI regained full compliance with all applicable criteria for continued listing and trading on the Nasdaq Capital Market. However, the company is still in its initial development stage and has not yet provided a definite timetable for completing the development of its Enos system.