Asensus Surgical (ASXC) stock skyrocketed, and I predict that it may gain market share over Intuitive Surgical (ISRG).
Asensus Surgical is digitizing the interface between the surgeon and patient to pioneer a new era of Performance-Guided Surgery™ by unlocking the Clinical Intelligence to enable consistently superior outcomes and a new standard of surgery.
The company currently manufactures a robotic system called the Senhance surgical system. It uses artificial intelligence (AI) and augmented intelligence. The system features the first machine vision system for use in robotic surgery which is powered by the new Intelligent Surgical Unit.
The Senhance Surgical System is intended to assist in the accurate control of laparoscopic instruments for visualization and endoscopic manipulation of tissue including grasping, cutting, blunt and sharp dissection, approximation, ligation, electrocautery, suturing, mobilization, and retraction.
The Senhance Surgical System is intended for use in general laparoscopic surgical procedures and laparoscopic gynecological surgery. The system is indicated for adult use. It is intended for use by trained physicians in an operating room environment in accordance with the instructions for use.
Why ASXC stock continues to rise
Wall Street investment management firm H.C. Wainwright has initiated coverage on ASXC stock and seems to be bullish on the company. The investment management firm assigned a buy and a price target of $4. This coverage comes weeks after ASXC released its earnings report and it seems that its showing a bright future ahead for ASXC shareholders.
The company also signed two lease agreements with hospitals and expects to deploy 12 Senhance systems throughout 2023. Currently, FDA clearance is planned for their Intelligent Surgical Units features.
The Intelligent Surgical Unit enables the camera to automatically move for a surgeon during a procedure, responding to commands and recognizing certain objects and locations in the surgical field.