Titan Medical down on withdrawing all forward looking statements

Conavi Medical

06/12/2022 16:23

** U.S. shares of Titan Medical Inc  TMDI.O  fall 28.8% to
60 cents - biggest pct loss in over 2 years 
    ** TMDI withdraws all forward-looking statement included in
SEC filings as restructuring measure implemented by it to impact
timing and costs with regards to its robotic surgical system
milestone
    ** As part of restructuring, co also plans to temporarily
suspend about 40 employees in its U.S. subsidiary effective
immediately 
    ** TMDI is implementing cost-cutting measure to undertake
strategic review process announced in Nov
    ** Including session gains, stock had fallen ~5% YTD
 (Reporting by Khushi Mandowara)
 ((Khushi.Mandowara@thomsonreuters.com;))