TransEnterix sees light on Q2 release, shares tick up
BY
TransEnterix (NYSE:TRXC) hasn’t had the best luck in 2016, with the FDA denying its 510(k) clearance submission in April and shareholders suing the company in June over the nixed project, but things are looking up for the robotics company with the release of 2nd quarter earnings that beat the street and sent shares up nearly 7%.
The Research Triangle, N.C.-based company reported losses of $80.1 million, or 70¢ per share with operating expenses of $80.7 million for the 3 months ended June 30.
That amounts to an over 700% growth in losses and operating expenses compared with the same quarter in 2015. After adjusting to exclude 1-time items, losses per share were at 11¢, above the 15¢ per share losses analysts on Wall Street were expecting to see.