TransEnterix to Reduce Headcount and Change Company Direction

Research Triangle Park medical device developer TransEnterix, Inc. (NYSE MKT: TRXC) will reduce headcount and put aside work on a surgical robot for which it once held high hopes.

The move comes after the U.S. Food and Drug Administration rejected an application by TransEnterix related to SurgiBot, the surgical device the company had developed. The FDA issued its ruling on April 20, but TransEnterix executives had delayed giving extensive comment until the first-quarter earnings results conference call.

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