Those looking into the medical device sector this might consider taking a close look into the Titan Medical Inc (NASDAQ:TMDI) stock this morning. It has emerged as one of the notable gainers in recent days and over the course of the past week, it has managed to clock gains of as much as 14%.
Market Action:
On Tuesday, TMDI stock moved down 0.58% at $1.7000 with more than 495.36K shares, compared to its average volume of 396.33K shares. The stock has moved within a range of $1.6800 – 1.7491 after opening the trade at $1.7300.
Completion of Pre-Clinical GLP Studies
The company is primarily involved in the designing and development of surgical equipment for single access robotic surgeries. Earlier on this week on Monday, the company had made an announcement with regards to the fact that it had successfully completed the pre-clinical studies for Enos.
Enos is a single access robotic surgical system that has been development by Titan Medical. The announcement was a significant one from the company and hence, it was perhaps not a surprise that the stock got the attention of investors as well.
The pre-clinical studies had been conducted as per the GLP or good laboratory practice regulations that have been laid down by the United States Food and Drug Administration. In that study, Enos system had been used to conduct hysterectomies in porcine subjects. The stock could now be worth tracking closely considering the strong move it has made in recent days.
