Conformis (NSDQ:CFMS) posted first-quarter results that beat the revenue consensus on Wall Street but missed on earnings. The Billerica, Mass.-based orthopedic company yesterday reported losses of -$11.51 million, or -9¢ per share, on sales of $13.84 million for the three months ended March 31, for a sales loss of -16.02% compared with Q1 2020. Earnings […]
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MedTech 100 roundup: Industry sees largest fall since October
The medtech industry’s hot start to 2021 has finally come to a full halt after stocks fell harder than they had in more than four months. MassDevice‘s MedTech 100 index ended the week (March 5) at 103.3 points, marking a -3.1% dip from the 106.65-point mark set one week before (Feb. 26). In less than a […]
Conformis dips 9% on Street-beating Q4 results
Conformis (NSDQ:CFMS) posted fourth-quarter results that beat the earnings consensus on Wall Street and matched on revenue. The Billerica, Mass.-based company reported losses of -$6.6 million, or -8¢ per share, on sales of $16.7 million for the three months ended Dec. 31, 2020, for a sales loss of -16.1% compared with Q4 2019. Earnings per share […]
Conformis soars on news of FDA clearance
Conformis (NSDQ:CFMS) recently received FDA 510(k) clearance for its ITotal Identity cruciate-retaining knee replacement system. According to a report from SeekingAlpha, Billerica, Mass.-based Conformis received 510(k) clearance for the ITotal Identity posterior-stabilizing knee replacement system along with the cruciate-retaining knee replacement system. The knee replacements have customized fitting properties with specificity for each patient receiving one. […]
Conformis closes $79.6 million offering
Conformis (NSDQ:CFMS) announced today that it closed an underwriting agreement to sell common stock worth approximately $79.6 million. The offering made by the Billerica, Mass.-based company includes the sale of nearly 81 million shares of common stock at a public offering price of $1.05 per share, bringing the expected net proceeds to approximately $79.6 million, according […]
Conformis launches Cordera Match hip system
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 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 […]
