TMDI - Earnings call transcript Q2 2021

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Operator

Greetings, and welcome to Titan Medical’s Second Quarter 2021 Earnings Results Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to your host today, Kristen Galfetti, Investor Relations. you. Thank

begin. may You

Kristen Galfetti

Good Titan and earnings Medical’s operator. joining conference you us for second morning, you, thank everyone, for call. Thank quarter XXXX

XXXX of business Relations website call, results release in the issued our we Investor morning. review section can press second During at A be this copy in will our earnings our and release www.titanmedicalinc.com. which highlights, quarter key earlier were the summarized of Titan’s financial found

plans constitute marketing statements been growth, identify milestones, as maintaining pathways, made opportunities. to development that the and during as projected including forward-looking system system of advantages anticipated anticipated is Enos performance of As management. Medtronic, we will forward-looking future a information market the and statements, and GLP, embracing improve, designed believe, repayments, status for being the that to and system call are on address, results of expect regulatory system current future to Enos participate and to that statements words will may, designed demand the intellectual investor anticipated system being based status, worldwide of reflect the medical receive, the expressions is management’s we conference payments, users These company’s and Enos respect and certain reminder, technologies anticipate, of for, anticipated anticipated the will, results the management’s planned, belief available these respect filing anticipated future similar beliefs including plan, potential that expectations the current such used the the commercialize to license certain from could, Enos statements patient currently to is licensed Wherever possible, conferences and features reflect goals the to market intend, that property this expect, our with loan expansion potential and launch, patent to completion statements. the system, the operations, with have authorization, to would, business timelines, the the events that anticipated prospects Enos portfolio, of expect Enos biocompatibility of development outcomes the in rights product and the testing under-penetrated, include, market motivation budgets, plans, receipt that estimate,

forward-looking listed materially such significant XX, uncertainties, could without risks, December involve or the results, cause performance, assumptions. results, form one or www.sec.gov. provide vary by results, incorrect, statements. made be or and the may Should materially those call. investors place expressed viewed forward-looking materialize the should may underlying Risk those performance forward-looking fiscal the of the assumptions should conference future company’s any by at which be uncertainties actual statements of the factors that and performance These achievements actual achievements factors XXXX, www.sedar.com should Forward-looking be or the Factors including, expressed risks XX-F Many different and these statements or undue reliance not in limitation, achievements prospective and company’s from during ended to section be or statements or year at more information implied considered from this Form for carefully annual forward-looking statements may implied or on

David? of current will that, actual the that Executive and forward-looking be based cannot reasonable I assure Titan what assumptions, or Although, investors Chief statements. upon prospective results, made performance achievements McNally, or be the consistent this company management believes over call the to turn David statements call With currently are with President forward-looking conference will Medical. during Officer these to

David McNally

robotic continue quarter to single to Titan access support thank to our the system. want their Good and XXXX Thank evening, earnings we shareholders Enos for I welcome you, surgical Medical’s as Kristen. second successfully call. develop

business. As second accomplishments in all Titan has details quarter of of progress. we acknowledge made strong share today to we the that we XXXX, discussed are we pleased another you XXXX progress aspects this year look upon to our quarter our with Building first of of call, the half solid the on

of market Joining us His the in newly companies TSX who in Titan Lemieux, in call Officer financial to healthcare of appointed will wealth than the brings Chief and me Financial on Stephen NASDAQ instrumental to today capital upcoming and helping systems, is and Welcome, more hone experience Stephen. execute milestones evolve our strategy, experience years industry. XX our be achieve knowledge listed our leadership vision. focused our

productive by with the including agreement Medtronic, under The XXXX the team. to highly was second of quarter additions and marked achievements, $XX of substantial payment of a million development key the receipt Board for Titan and strengthening Directors leadership our of several notable license

surgery an over and Hill Additionally, Chapel center, capabilities capital, to the innovation we cash increased our R&D Titan’s expanding believe patent a portfolio single and which surgery. access tissue comprises portfolio, potential further intellectual position robotic the intellectual and leader differentiator XXX patent new our in our base in robotic applications. now We providing soft adding grew evidence employee among our market, expanded assisted to we that to enhanced entrance property be patents are an development

for company to animal program. and forward of drive laboratory payments. repair in confirmed under Enos first poor of submission, camera experienced established assisted Among has our milestone practice including user interface of speed, that made contributors good are in to and Enos in engineers Titan its simulated and instruments second program intellectual in planning currently in-house the for to a focused team sign experienced with most operates our Importantly, contributions license system In of surgery exchange enhancements preparation articulation, Titan’s also protocol Device Exemption in development Medtronic September. those preclinical submission the that a the or a to one but development system quarter, of Investigational the complete agreement His to improving development and our Titan that remains or improvement GLP under system Dr. cadaver our surgical and robotic development software quarter successfully significant and at and IDE during camera regard across not overall those subspecialties. our the of performed support instrument specializing and a only human team the on continues achieving Medtronic world’s lightning key made have the The development Titan’s planned surgeons and access XXXX. milestones portion Medtronic versatility advancements system studies we single progress system. of using access is portfolio property hernia and provides hysterectomy and Enos under stability. robotic performance, system from Ricardo leverages the technology both in our Enos Estape

patent Importantly, own we grow rights to unlicensed perpetual surgery. independent free and license innovate have maintains Enos as that continue royalty commercialize robotic continues technologies And the furthermore, with to our Titan we are worldwide use system. portfolio the in to

by associated for joint the Medtronic development as approach to companies components deliverables, limited agreement has to milestone Our be allow deliverables custom completion of steering of continues collaboration with of license we productive and milestone availability committee yearend. certain prototype the under of final the the with final in under agreed the view

for will in to of market by environment $X.X full difference by million for greater and single market for partially enhancing offset license that strengths were surgery. the cost of surgery of the and and necessary remarkable previously is outcomes, surgeons and and multi-articulating in versatile use being and XD being high perform motion than make patient market. ever efficiency for that single include a there repayment systems professionals Enos a surgical common demand provided easy improved systems underpenetrated room imitates completion robotic range include movements We lower outcomes that Medtronic. be Enos to opportunity final patient XD operating single focus medical access deliver dual assisted this The will a presenting allowing the minimally in platform to Titan’s definition We Improving on to the is enabling greater advantages expects for an effectiveness approximately dexterity and access access patient’s designed ergonomic with functionality. rapidly focus before. gynecologic and promise invasive throughput. their instruments of high the to both costs are improved to evolving increasingly a The surgeon in the million a life deliverables, result execute initial Titan an through outcomes. loan that exciting confined payment acceptance robotic lives. with innovative surgeon system surgery patient during and tasks vision in is for Following The designed space system a technologies effective receive visualization, interest innovative $XX using believe technology of comfort of U.S. benign robotic to surgeons believe improve improved our best surgery regularly patient clinical greater hospitals expansion to real for is workstation point

particularly With and population to hastening embrace market represent healing billion believe to single reducing a of indicates potentially is our research preliminary the gynecologic in patient $X surgical surgery motivated prospects Our opportunity we U.S. this minimizing trauma, access solution. scarring,

we based for studies, that in be multiple of broad our the very could eco the use system attractive Additionally, preclinical anticipate successful on versatility subspecialties.

satisfy feedback and surgeons leading across needs opportunities insights work numerous unmet with We us that continue regarding us closely for with to to provided excellent procedures. have

earlier for repair common a potential multi-articulating to also by in lab the Enos pair I robotic only As procedures within the animal. used the completed highlighted camera in independent XD experienced with a high world’s Titan’s the This provides surgeon sources, of successfully and the lab. experience simulated integrated the procedure, Dr. a XD and Ricardo month definition the definition Titan regulatory clearance Enos camera. repair custom indication. work the of Estape a systems development light insertion hysterectomy specializing an successfully but team simulated strength another a pairs gynecologic call, that future The where tube to the gynecologic of live instruments, and hernia to not assisted in this was system point in Dr. last using expansion it glimpse demonstrated bringing surgery animal the system detailed a and two has one in hernia dexterity The system mentioned Enos perform preclinical for procedure that market Estape subject general Enos most surgery steerable completed the LED high

you pleased vignette experience Dr. interview to through posted been with this with living labs website. our and Titan on the We’re has Estape share that

we mentioned quarter, earlier. development in early FDA IDE product file as the the year During next preparation with advanced our second application I to

continued accommodate engineering through facility manufacturing of and we to at and addition, and innovation expanded Hill our of in-house Chapel the In our and R&D talent expanded cameras. instruments intellectual footprint recruitment growing facilitate our capital our team

have at feet this instruments, our We which support. and includes Class footprint IDE In operations A soon and XX,XXX quality to accommodate for growing Titan now square submission. biocompatibility our and and facility, testing commence preparation June. clinical expanded in steams than regulatory systems, accessories of more camera R&D our

results We expect month. to have tests the later of these this

we GLP supported September to in application. studies Next complete upcoming and expect our the IDE

group determine to Institutional in to IRB that clinical Each regulations. are have approval IRB office it or Board And and a review before studies and of principles federal hospitals if require the designated by studies health IDE also our clinical begin of commenced perspective will preparations. a an ethical investigator the Review study may involved services to proposals be before can commence. follows We IRB human is

IDE In the will surgeries, as hospital early perform each expedite the by we with it soon IRB approved surgeons their is important engage FDA. to to is meeting approval that of our committee addition that as with the

reserved that As first via Enos pathway devices. FDA previously, system development year medical have of our We to the the our single with the for and access system we is the Novo the finalize with shared studies process of for De this IDE surgical approval completing studies, product communications from upon with the for plan upon surgical Enos indicated the novel expect regulatory expected of of application FDA possible authorization successful for the anticipate IDE, commencing XXXX. half clinical to Upon authorization second in an file half the we in XXXX product receipt FDA. launch of XXXX, marketing in we

for the of will cleared study, marketing dialogue from We clinical the our of system details getting as the the hands surgeons. continue into finalize and we with FDA goal Enos with the

strengthened During our in the Board second and substantially quarter of we and weeks, recent team leadership Directors.

regulatory in Lemieux’s deep to robotic are clinical experience device strategies welcome appointment Tammy CFO, we in Vice developing industry, of and as us with surgery. In addition Regulatory Quality delighted comes Tammy the to Stephen including implementing to and and Carrea Affairs. assisted President, medical

product utilizing skills applications. support De Tammy and registrations, than Specifically, success. including and already Titan Tammy weeks Novo submissions is for in, to two Less has responsible been expertise her

Basra President, business joined background Titan development as During Development. the value strong and and Deepak in a creation. evaluating Business that Vice in us growing for partnerships has opportunities instrumental strategic second quarter, Strategy Deepak will and be

private and As healthcare governance experience nearly years was company. director and Titan. were experience XX Meeting the brings over announced, and proven Cathy markets Director and to the bring with Special elected following directors Paul and Cathy Joined our Knight investment has Board, strong leadership Shareholders, healthcare XX capital of and Cataford years lead Board skills commercial fall dealings last of Steiner Annual of our Chairman Heather the named Paul Titan and companies. independent corporate in as banking and and of Heather financial of public experience,

to to Titan company to pleased of professionals Directors and talented be such Medical. the attract our able Board to We’re of

the virtual Stephen September for Life investor presented Summer Conference During MedTech Healthcare conferences Conference overview Summit, Titan in participation Virtual Investment the Cantor the include: Summit a participated Plan XX in Annual & Wainwright Fall Conference, Healthcare Conference corporate participate meetings. XX. scheduled quarter, Sciences of in September investor the H.C. I and Global MedTech & to second to AGP the XX Oppenheimer and XXrd Investor the the XX; upcoming XX; September Global to Co. XX and meetings Oppenheimer I of MedTech investor at and day with

on in anticipated commence first related for to the currently the continuing Looking work with focused half application any Medtronic GLP the agreements Completion end, and to our forward, clarifying conducting XXXX, FDA human are by under the preparation studies and planned of clinical expectations human special license in of development upcoming year the support milestone of first our XXXX. final next be associated quarter IDE of studies controls performed month for and site we in IDE. studies the with

and Lemieux, our I providing our recent Our turn over our single of underserved the Enos vision are market actions in being to to planned closer our review system results. CFO achieved. financial surgical will Stephen call robotic progress an now Stephen? bringing access to

Stephen Lemieux

forward Thank in following discussion please such success U.S. to pleasure you, In be at all part pivotal to of the joining I David. that being lies It’s my that dollars. a results, Titan note And are ahead. the time. look numbers of

ability to accrued milestones shares promissory The $X.X common $X.X agreement are months the another the David the development X% The of the the development work mentioned the amount that our of million, related Aspire $X.X resulting to December expense under temporarily in As of million increase ended period, R&D suspended. by to and an months increase company note comparative March company interest to agreement Research XXXX, XXXX, million has with million, from senior achieve share the system evidenced of loan books. of carry $XX receipt million earlier of due the the XX, of including was development Enos cash expenses development June required over June secured compared agreement with $X.X the purchase from the continues from In for terms XX, the receipt ended Medtronic. the we on had and the and Medtronic three milestone and million affiliate three of R&D XX, was $XX XXXX. the an XXXX from million totaled of Capital June a the XX, an at Fund. The XXXX. the at from completion million Medtronic to $XX.X Aspire. with common QX $XX.X XX, to issue million X.X under

achieve to is development the XXXX. The to Meanwhile, those the million past XX, XXXX, in board and the the the in-house development been million more General the team the we $X.X months million delivering of the with Enos months compared our XX, and of Following the team, cash XX, June for $X.X G&A in in transparent of required for system severance non-IFRS XXXX. resources Enos needs evolve R&D XX, the both senior of operations. costs, one The both Canadian continue a increase Augmenting address support of June three apply members directors, provide XXXX, June to months the the our to our system company to and for to as R&D new Medtronic administrative U.S. The increase work license a for ended of execution management G&A XXXX, the three was three adjust deliver $X.X and to audit leadership center G&A solutions. ended our milestones. June decision we months North million management based and which development with costs. related changing made of systems million we great related normal tripling has with significant XX, internally accomplishments months Chapel and uses rapidly judiciously for XXXX. and our committee accounting in three of in ended Adjusted move expanding the agreements $X.X expenses months the agreement our Medtronic of U.S. company burn. the efficiency to and increase increase portion the development Titan ended measure complete Hill, in non-cash finance and advance and the reporting the continue establishing a an charges to adjusted were our Enos G&A financial together our its for Medtronic time experienced for strategic million six on have to to Carolina, compared Adjusted compensation the Working and XXXX, ended growth view subsidiary, $X.X $X.X hone Titan. processes in the at to compared items our to $X.X our million system stock $X.X workforce incredible. to June XX, our over six and June achieving has for for the G&A milestones been year ended million of was June

upon that prepare I surgical statements. call, during the to non-cash were is weaknesses controls earlier approval Huang, material made we noted year-end remains continued Since our including filings our the preparation financial time, second reports, IDE of statements. board resources of prior FDA. internal of and the year-end financial to to now our Beginning complex additional assist we we and financial systems earnings statements Chien financial annual engaging the to resulting receipt the reporting sheet of of of an system turn continued build third-party our identified the preparation leveraging as meet of we have approval anticipated our annual are the concluded from back in of that taken progress XXXX, by first presented our this financial quarter and we with David. of fairly of team in assist our engaging expected to in in Based studies perform have the program human and to remedial accordance risk President and for filings, our support actions, of addition that, services clinical release summary, needs growing have thriving regulatory Enos and call corrections on financial and financial IFRS. balance strong to experts several over As of our preparation review development In of finance had company. to reduce more statements the surgeons over year, as to with financial and the prior XXXX will we the Medtronic With Finance completed All the the to completion our adjustments the technology with Vice human the we transactions assessment, errors. through the quarter

David McNally

and We less will our toward to you, device human Thank September, an Global the single and the assisted milestone procedure clinical development upcoming exciting Conference. investor Titan’s Healthcare address hospitals. faster service the join savings under for hope surgical robotic Enos ahead, Fall market, and patient promising that recovery progress times virtually commencing you MedTech Cantor our will final trauma system Global of milestones planned surgical you the segment Sciences Annual studies and the believe in Summit, on Healthcare H.C. the capital under-penetrated, system on for surgical Wainwright events us and high Conference, the Life advancing access demand toward costs XXrd Stephen. including meeting that appraised Enos We & includes equipment, We robotic forward Medtronic look Oppenheimer the Investment but keeping program.

open now We Operator? will questions. for the line up

Operator

Thank Instructions] conduct first Kalia you. Securities. Our will your proceed. with Suraj, At is Please from comes this live. question [Operator question-and-answer time, Suraj line we Northland a session.

Suraj Kalia

right. morning, David, Good hear can everyone. all you me,

David McNally

Suraj. Good Yes. morning,

Suraj Kalia

Sorry about that.

team Estape. that, congrats many and and David, on work any still Dr. through on went How repair per was or needed by you Enos David So led hysterectomy the hernia analysis the of progress. the as is it incremental believe. expectations? all questions. you Bunch to gap that Was simulated preclinical there

David McNally

you, the was was fully the arms delighted exceptional, And the done. ago And the with preclinical the the delivered Thank to question. work had have excellent. of to other we achieved strength than we’ve close we with the is if the over and by performed. the observed according system. seen. gaps system, a that ever visualization system our we the is best satisfactory, are we dexterity better the best in It’s not that performance And year have a Great looking some multi-articulating were Dr. the We had Estape of stability Suraj. cameras

with is the in providing of real all feedback. litmus gynecologic most and operating enthusiasm the we those world, surgeon that the and test experienced the system have checked robotic us is we great So boxes surgeon,

with that system on of So performance. out confidence come are we’ve with track study great we that

Suraj Kalia

I’m see rule? hysterectomy a with as just performed down as decision currently there Can years through of you port single carve-outs you the for recently David, and the And case Got a was first versus OUS. benign it walk Medtronic versus it. more are you specifically, what between Enos? so curious, a of a landscape line. terms as tree system or the touted the Medtronic Medtronics general competitive – multi-port us having any in worked on couple Hugo

David McNally

good. Very

I course, be confidentiality measured I to about have Of to talk for what collaboration. our respect with with

IDE single for a our in And believe for are studies. we again, Of conducted have to full is portion and multi-articulating reason on for a subset, studied we of these course, indications and – and actually subset younger very terms Medtronic portfolio trauma patients hurdle likely Two, When planned we our we candidates a it population rights our maintain it’s it’s Enos camera and in our scarring think reduce surgery. have for our IDE what rights primary less have well able reduced all of a for body. to behalf. one system. hysterectomy, that the the use. this technology had are enroll licensed we And to And our a a of our research ideal the technology from benign about but on typically pathway candidates we patient focused measured the our access and relates systems, regulatory in will being be as that and particularly perspective utilize to we’ve that is,

call as penetration. procedures in a number potentially the in and $X think U.S. it for it’s opportunity oophorectomy as set us hysterectomy it, as benign that a alone procedures. us the as salpingoophorectomy, in market a provides for matter with mini combined umbrella our And fact, of beachhead substantial a billion of view So we a ability procedure, we of we’ll

reasons, to into those marketplace with their is company for surgery on for speak of see the an course in And buoyant Medtronic another as I the I largest expand can’t device and system, surgery that exciting market access single market the to med entire market. we’ve only world’s that benign company coming we’ve So is robotic the believe for landed hysterectomy. it opportunity Hugo used believing expansion.

Suraj Kalia

I others David final the more the systemic weakest out screwed question, for jump progress. factor let supply taking is If and on variant it. the Thank some your then, That’s chains questions development product monitoring issues, timeline? level, is is and obviously that strip of up. in are everyone worldwide Delta these you but I’ll my David, what affecting more link – higher currently everyone. The see congrats in you

David McNally

you, and Suraj, for us call the Thank you questions and thank excellent today. your on joining

No a look for it our with outbreak for variant supply nimbleness on as doubt, we the jumped early, long affecting need that challenges parts. certainly chains and industry. look Delta So are we our foresight been pulse And keep couple to almost every the viewed ordering in working frankly, impact on parts We’ve chain the we’ve seen lead anything when has ordering or at time with year. and system, FDA of Enos to have IDE chains, Titan anticipated we’re something we not We lead weeks But the sources. following didn’t We of versus benefit, as from as started expected we COVID quarter the that toward causes our long teams program Medtronic at program. anticipated next the time the the to systems, together. studies of a plans approval of IDE for initial second Medical’s deter our this the supply yet fortunate we drive as them global that it, a us of proceed, call months much due an studies. are longer to application, needs, those expected, supply

focused one for what for studies. with the IDE The and the our is clarifying us FDA, about raised So that expected potential greatest ahead weakness? as, when you what is right challenges we exactly on think now we’re the what’s really

call we look, on VP to need yesterday Regulatory on the de-risking As focus I really that, studies. mentioned a of it knew, together, phrased Quality Tammy and IDE

so And those ongoing to FDA, are which communications that. key are with the

on So it for call human cadence our make it call a we de-risk into you an certain stay opportunity to wouldn’t weakness. I’d Suraj. again, I’d and Thank say surgeries. moving us that for I

Operator

are time. audio [Operator no have any at we web Instructions] questions this questions? Do There

Kristen Galfetti

We Aspire you. wondering that was Thank Yes. existing our perhaps with the to might remit shareholders? process do raise regarding cash with couple what with solid have position, Capital. the and Investors are a dilution behind happen strategy embracing this the

Stephen Lemieux

take Kristen. I’ll one. Yes. is Thanks, that This Stephen.

we and place runway as the in we get we mechanisms facility currently fortunate, that strong have put upfront. very And we utilize us runway XXXX. filing the in the to FDA the and hope end in the with for extend our to credit capital to a raise This to company books the have IDE that of get We that Novo we’re can human De help we additional is want cash future. want through our ways into submissions, always XXXX. development into looking move into the through cash studies the further clinical and one of on bolster Aspire this through to through Enos, to position our worked will cash that our do facility a the line continue is with that help have. XXXX of We’re We extend we fee our us commitment is of paid

Kristen Galfetti

Great.

of when regarding the question, of product company? another an insider the in will increase some have ownership we We see

David McNally

purchase Stephen, would plans provide employee some our color stock to for an on like you plan?

Stephen Lemieux

is company Sure. has Yes, are insider been the – internally. we ownership Thanks, talking about David. that an thing one

– but in employees employee kind the under place plan basis to of start shareholder through buying in consistent in that to the looking few place can over an working plan purchase approval share get next that in of this in stock XXXX. require it’ll a the terms a on most require put we’re participating months, likely We are where

Kristen Galfetti

you. thank Great,

expect to when regarding just Medtronic? future maybe more question engagement with clarity any we’ll on Another

David McNally

and overseas, Medtronic has by number we’re is end. that the time I’ll the from be in happy payments. Kristen. expected of to Medtronic by acceptance representatives delivery joint September process really limited milestone This deliverables envisioned an one, of And Titan allowed one, number developed milestone was final from quarter, were comprised followed on David. milestone time. payment for acknowledging parts custom at take accommodated for the availability this was equal in final delivery review for the year providing of the of some even for the with steering fourth committee the before focused And final originally This

of job actually Our the The and on preparations engineering maintaining regulatory for the our outstanding on clearance of milestones, GLP studies focus our an the done September. Enos toward Medtronic in the delivering planned development on team schedule change to is system. focus has while beneficial

So of focus program. current all the with completing on on, going remains this our

our focused system. We end for the future, out and on out year focus while on but completing maintaining anything the closing we’re milestone Medtronic Enos this haven’t ruled

Kristen Galfetti

where another And Could the for single competitive stands? describe excellent port question. robotics Enos landscape and Great. you

David McNally

one be I’ll well. happy to take that as

would of view So the potential we single I only, They’re surgical view the as this with we opportunity for move in space. in as into port indication of single versatile a the say for player space. single great a it surgery system intuitive the port port a surgery,

transvaginal that for articulation live drive view. to projects next a We And just Based to that performed believe of our doubt. over we be in Now perform procedures and in hysterectomy. we the system, as portfolio the XX that a portfolio we technology human No experience cleared new we when forward the on we the great the with IP space. an to IP that’s positioned experience have patents innovation visualization or to preclinical our single for access we’re performed comprehensive surgery. company But leader the our aware have preclinical been animals deliver port pending continue cadaver. are and to in one that having required in view or surgery of other system look issued market ability have with single some along our we the entrance XXX

the heats what As toward see down with we’re and been going doesn’t commercialization. to our roads market. entrance we’re other But to up, the space of forward what works, we driving to understand development plan have the work

Kristen Galfetti

Great. Turn questions back I we’ve the believe the covered webcast. to David. it from over

David McNally

on benefit We us In bringing our single morning system to and surgeons. I joining this for review you remain our date your you, call Titan for of support on the of for this market the and to to to patients focused Medical. accomplishments Kristen. closing, Thank access want robotic surgical thank

and Titan, ahead Thank about supportive our work the for the shareholders. lies and of very you, We direct again, day. you of Directors are and what employees, date to forward of our informed hard view progress. the commitment and results Board excited great we of to the achievements leadership Our a our look our of keeping remain have

Operator

you. Thank This and does conclude today’s teleconference webcast.

your participation time. have and day. you You thank great this for may at your lines a disconnect And

Titan Medical (TMDIF) 11 Aug 212021 Q2 Earnings call transcript