Shares of TransEnterix (NYSEMKT:TRXC) popped nearly 40% higher in trading today, perhaps in anticipation of the company’s Investor Day later this month. TRXC is a robotic surgery company specializing in minimally invasive procedures.
The company said it will be providing updates on its flagship Senhance Surgical System as well as corporate strategy and market opportunity at its Feb. 23 event. Senhance is the “first and only” digital laparoscopy platform on the market, aiming to increase clinical insight and decrease inefficiency and variability.
TRXC stock was trading higher last month as well. The company has since been selling common stock in large deals, selling 25 million shares at a price of $1.25 on Jan. 14 via registered direct offering and then more than 26.5 million shares at a price of $3 on Feb. 1 in a bought deal offering. That latter deal was increased in size twice from its initial size of $25 million.
Trading volume of nearly 70 million shares at time of writing was a huge increase on average daily trading volume of more than 25 million shares.
On the date of publication, Vivian Medithi did not have (either directly or indirectly) any positions in the securities mentioned in this article.