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Asensus Surgical, Inc. (ASXC) reported a notable increase in fourth-quarter revenue for 2020, totaling $1.1 million compared to $0.7 million in Q4 2019. The company achieved key milestones, including expanded FDA clearance for the Senhance Surgical System and CE Mark approval for the Intelligent Surgical Unit in Europe. Operating expenses were reduced to $14.2 million from $18.1 million year-over-year. Despite these advancements, a net loss of $13.8 million was recorded. The company has strengthened its financial position, closing equity financings totaling approximately $111 million, extending its cash runway into 2024.
Asensus Surgical, Inc. (formerly TransEnterix, Inc.) has officially completed its name and ticker symbol change, effective March 5, 2021. The company's stock will now trade under the new ticker symbol ASXC on the NYSE American, replacing the previous TRXC symbol. This change reflects Asensus Surgical's commitment to digitizing surgical processes through its Senhance® Surgical System, enhancing surgical outcomes via innovative technologies. No action is required from current shareholders regarding this change.