TransEnterix shares fall despite Street-beating Q2

Shares in TransEnterix (NYSE:TRXC) fell today after the robotic surgical platform developer posted second quarter earnings that beat expectations on Wall Street, but showed growing losses.

The Research Triangle Park, N.C.-based company posted losses of $34.3 million, or 17¢ per share, on sales of $6.4 million for the three months ended June 30, seeing losses grow 132.8% while sales grew 303.3% as compared with the same period last year.

Adjusted to exclude one-time items, losses per share were 6¢, just in line with consensus on The Street, where analysts were looking for sales of $5.8 million.

“Our performance during the second quarter was solid as we continued to drive system sales both in the U.S. and abroad, while simultaneously making significant progress towards our 2018 goals, including the expansion of Senhance’s indications for use and broadening our portfolio of instruments. We look forward to leveraging the significant progress we made during the first half of the year to drive increased global adoption of our Senhance system,” prez & CEO Todd Pope said in a press release.

Shares in TransEnterix have fallen 11.5% so far today, at $4.77 as of 3:21 p.m. EDT.

Last month, TransEnterix saw shares rise after the robot-assisted surgery company released preliminary revenue numbers for the second quarter that outstripped the consensus on Wall Street.

The post TransEnterix shares fall despite Street-beating Q2 appeared first on MassDevice.

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