Conformis (NSDQ:CFMS) this week launched its Cordera Match hip system in the U.S. The Cordera Match Hip System is an uncemented, primary total hip replacement system that features femoral and acetabular components. It is implanted using a surgeon-approved, personalized surgical plan and patient-specific instrumentation. “Our new Cordera Match hip system begins the expansion of our growing […]
conformis
Conformis up a bit on Street-beating Q3 report
Conformis (NSDQ:CFMS) shares rose slightly in after-hours trading today on third-quarter results that continued to reflect pandemic-related losses. The Billerica, Mass.-based joint replacement implant maker posted losses of -$6.18 million, or -9¢ per share, on sales of $15.98 million for the three months ended September 30, 2020, for a 28.9% bottom-line gain on a sales decline […]
Conformis hip system wins FDA clearance
Conformis (NSDQ:CFMS) recently announced that it received FDA 510(k) clearance for its Cordera Hip System. The hip system is an uncemented, primary total hip replacement that features femoral and acetabular components. It can be used with or without a pre-operative CT scan that is used to design Conformis patient-specific instruments with a personalized surgical plan. “Our […]
Conformis to sell $17.25M in shares to investor
Conformis (NSDQ:CFMS) announced today that it entered into a definitive agreement to sell approximately $17.25 million in shares and warrants. The agreement, made with an undisclosed “healthcare-focused” institutional investor, according to a news release, includes more than 8.5 million shares of Conformis’ common stock, accompanying warrants to purchase up to the same amount of shares and […]
MedTech 100 roundup: Stocks were practically unchanged last week
Despite plenty of ups and downs coming in the stock market for the medtech industry, there was hardly any movement from week to week. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.6 points at the end of last week (Aug. 21). Overall, medtech stocks saw […]
Conformis reaches second milestone in Stryker deal
Conformis (NSDQ:CFMS) announced today that it completed the second of three milestones in its license and development agreement with Stryker (NYSE:SYK). Under the agreement, Conformis is set to receive an additional $3 million from Stryker after achieving the milestone as it develops patient-specific instrumentation (PSI) for use in connection with Stryker’s knee implant offerings. “We are pleased […]
Conformis names new marketing VP
Joint replacement implant maker Conformis (NSDQ:CFMS) announced that it appointed Farzin Kaghani as its new VP of U.S. marketing. Khaghani, a veteran of more than 20 years in orthopedic and medtech sales and marketing, most recently served as president at NextStep Arthropedix, but before that, he spent more than 10 years at Conformis in a number […]
Conformis dips on Q2 losses
Conformis (NSDQ:CFMS) shares dipped today on second-quarter results that highlighted losses influenced by the ongoing COVID-19 pandemic. The Billerica, Mass.-based joint replacement implant maker posted losses of -$2.1 million, or -3¢ per share, on sales of $19.5 million for the three months ended June 30, 2020, for a 68.4% bottom-line gain on a sales decline of […]
The top 5 MassDevice stories of the week — July 31, 2020
The past week has seen a slew of Q2 earnings reports from medical device companies — and the picture overall hasn’t been pretty amid the COVID-19 pandemic. Still, medtech CEOs during their earnings calls said they’re starting to see some signs of hospital procedures recovering a bit even as the southern U.S. deals with a […]
Aetna accuses Conformis of trying to use patient’s lawsuit to compel coverage
Joint replacement implant maker Conformis (NSDQ:CFMS) is improperly using a Colorado man’s denial of benefits lawsuit to force Aetna to cover its customized knee implants, the health insurer recently argued in a federal court filing. Billerica, Mass.-based Conformis joined John Michael Schaub of Golden, Colo., in his lawsuit against Aetna, filed in May in U.S. District Court […]
Conformis expects 50% drop in Q2 product revenue
Joint replacement implant maker Conformis (NSDQ:CFMS) said today that it anticipates a COVID-19-influenced 50% year-over-year drop in second-quarter product revenue. Releasing its preliminary results for the quarter ended June 30, the Billerica, Mass.-based company projected total revenue of $19.5 million for the quarter, which is down -1% year-over-year on a reported and constant currency basis. About […]
