Titan Medical Says Actively Exploring Alternative Financing Options

Mr. McNally concluded, “During the third quarter we announced completion of the surgeries associated with Good Laboratory Practices (“GLP”) studies. These studies were undertaken in preparation for

Benzinga · 11/14/2019 22:40

Mr. McNally concluded, “During the third quarter we announced completion of the surgeries associated with Good Laboratory Practices (“GLP”) studies. These studies were undertaken in preparation for submitting an Investigational Device Exemption (“IDE”) application to the U.S. Food and Drug Administration (“FDA”) for human confirmatory studies, which we plan to conduct after our financial position is secured and product development is completed. We are actively exploring alternative financing options, including strategic investments, while drawing on our $35 million common stock purchase facility with Aspire Capital, in accordance with its terms.”