Shares of Asensus Surgical (ASXC) surged 10% on the addition to Russell 3000 and Russell Microcap.
In a previously written article, I outline why Asensus Surgical could be the next Intuitive Surgical (ISRG). The company was recently initiated with a buy with price target of $4 by H.C. Wainwright.
The company also ajourned the meeting with stockholders so that stockholders could have ample time to vote their shares. The meeting will now be virtually held on Tuesday, June 29, 2021 at 11:00 a.m. (Eastern Time).
Over the last seven months Asensus has let out a steady stream of press releases concerning the take-up and potential utility of Senhance.
The company has launched a training center in the Netherlands. Five German hospitals have initiated programs to use the system. Senhance has also won approval for general surgery. It was originally approved just for use in abdominal procedures, things like the removal of possibly cancerous colon polyps.
At an Oppenheimer conference this past week Asensus executives called what they’re doing Performance-Guided Surgery. But Intuitive’s DaVinci remains the 800-pound gorilla in the space. Asensus’ latest presentation claims its system can perform a hysterectomy for less than half the cost of DaVinci once it’s installed.
There are now just 28 Senhance units installed at 13 sites in the U.S., Europe and Japan. Asensus is focused on getting FDA approval for its articulating instruments and Intelligent Surgical Unit.