You remember the hype around surgical robotics a few years back? Everyone thought they were holding the next Intuitive Surgical. If you were watching the tickers, Titan Medical Inc stock was usually right in the middle of that conversation. People were obsessed with the Enos system. It was supposed to be the "single-access" revolution that would make bulky multi-arm robots look like dinosaurs.
But things didn't go according to the brochure. Honestly, the story of Titan Medical is a bit of a rollercoaster that ended in a parking lot. If you’re looking at your portfolio today and wondering why the ticker looks weird or why the price isn't moving, there’s a lot to catch up on.
The Big Shift: From Robots to Patents
For a long time, Titan was a "pre-revenue" darling. That’s a fancy way of saying they had great ideas but no actual sales. They were burning through cash to get their Enos robotic system through the FDA. Then, the money started drying up. By early 2023, the vibe shifted from "we’re going to change surgery" to "we need to pay the electric bill."
They didn't just give up, though. They did what many struggling tech firms do: they pivoted to their intellectual property. They had a mountain of patents—over 235 of them.
In a move that surprised some but relieved others, Titan started licensing that tech out to the giants. Medtronic and Intuitive Surgical—the actual kings of the mountain—stepped in. In mid-2023, Titan signed a deal with Intuitive Surgical for an upfront payment of $7.5 million just to license some of that IP.
Why the Nasdaq Delisting Happened
If you were holding TMDI on the Nasdaq, March 2023 was a rough month. The stock had been trading under a dollar for way too long. Nasdaq doesn't like that. They have a "minimum bid price" rule, and Titan just couldn't stay above the $1.00 mark.
🔗 Read more: Is Today a Holiday for the Stock Market? What You Need to Know Before the Opening Bell
Eventually, the Nasdaq Hearings Panel said enough is enough. The stock was booted to the over-the-counter (OTC) markets. That’s when it became TMDIF.
Trading on the OTC is basically the "Wild West" for stocks. Liquidity drops. Spreads get wider. It's much harder for institutional investors to touch it, which usually means the price starts a slow, painful slide.
The Conavi Merger: A New Identity
Fast forward to late 2024. Titan Medical wasn't really a robotics company anymore; it was more like a shell with some patents and a bit of cash. To survive, they entered a business combination with Conavi Medical Corp.
This is the part that confuses a lot of people. Titan Medical Inc. basically became Conavi Medical. By October 2024, the business combination was finalized. If you were holding Titan shares, you were suddenly part of a company focused on cardiovascular imaging instead of abdominal robots.
- The Ticker Change: The old TMDI/TMDIF identity started to fade.
- The Focus: Conavi brought the Novasight Hybrid System to the table.
- The Management: Most of the old Titan leadership stepped down to make room for the Conavi team.
It’s a classic "reverse merger" move. It allowed Conavi to get a foothold in the public markets using Titan’s existing structure.
💡 You might also like: Olin Corporation Stock Price: What Most People Get Wrong
What is Titan Medical Inc Stock Worth Now?
If you're looking for a moonshot, you might be disappointed. As of early 2026, the entity formerly known as Titan is living a very different life under the Conavi umbrella. The market cap for these types of reorganized companies often stays in the "micro-cap" territory for a long time.
We’re talking about a valuation that has fluctuated wildly. In early 2026, the market cap was hovering around the $19 million to $22 million range for the combined entity. That is a far cry from the hundreds of millions in "hope value" the stock carried during the robotic surgery craze of 2020.
Realities of Holding the Stock Today
Honestly, holding Titan Medical Inc stock (or what it became) is now a play on intravascular imaging. You aren't betting on a robot anymore. You're betting on whether Conavi can sell their imaging tech to cardiologists.
The medical device world is brutal. It’s expensive. You have to convince hospitals to swap out their existing gear for yours, and that takes years.
Actionable Insights for Investors
If you still have these shares sitting in a brokerage account, or if you're thinking about jumping in because the price looks "cheap," keep these points in mind:
📖 Related: Funny Team Work Images: Why Your Office Slack Channel Is Obsessed With Them
Check Your Ticker
Ensure you are looking at the correct symbol. The transition from TMDIF to the Conavi-led entity means the old data charts might be broken or misleading. Look for the most recent SEC filings under the new corporate structure to see the actual debt-to-equity ratio.
Understand the IP Residuals
While the company moved toward imaging, those old robotic patents still exist. However, much of the value was already "extracted" through the one-time payments from Medtronic and Intuitive. Don't assume a second "big check" is coming for the same tech.
Watch the Cash Runway
Micro-cap medical companies live and die by their cash. Look at the quarterly "burn rate." If they have $5 million in the bank but spend $2 million a month, you know a dilutive share offering is coming. Dilution is the silent killer of retail portfolios.
Tax Loss Harvesting
If you’ve been holding Titan since the $3.00 or $5.00 days, it might be worth more to you as a tax write-off than a "hold and hope." Talk to a pro, but sometimes taking the "L" to offset gains elsewhere is the only way to get value out of a crashed stock.
The era of Titan as a standalone robotics powerhouse is over. It’s a cardiovascular imaging story now. Whether that story has a happy ending depends entirely on Conavi's ability to scale in a crowded medical market.
Next Steps for You
Check your brokerage statement for any "corporate action" notifications from late 2024 or 2025. These documents will explain exactly how many shares of the new entity you own. Once you have the new share count, compare it to the current trading price of Conavi Medical Corp to determine your actual "break-even" point. Many investors realize too late that a 1-for-10 or 1-for-30 reverse split has changed their math entirely.