Medical device companies have come into the radars of investors in recent times and one of the companies that investors could consider looking into today is Titan Medical Inc (NASDAQ:TMDI). The company develops and commercialises new age surgical technologies for the purposes of robotic surgery.
Yesterday the company was in the news after it announced its financial results for the quarter ended on June 30, 2021 and also the six months that ended on the same date. However, it should also be noted that there was not much of a movement in the Titan Medical stock and it continued to move within a range.
The company announced that during the course of the second quarter its cash balance was boosted thanks to a license payment from Medtronic to the tune of as much as $10 million. On June 30, 2021 Titan Medical had a cash balance of as much as $55 million. The company also announced that at the end of the second quarter it held a total of 82 patients and as many as 95 more patents had been applied for. Although the stock traded within a range yesterday, it will be interesting to see if it does take off today.