Conformis (NSDQ:CFMS) posted second-quarter results today that beat the overall consensus on Wall Street. The Billerica, Mass.–based company reported profits of $38 million, or 21¢ per share, on sales of $56.3 million for the three months ended June 30, for a sales growth of 189.44% compared with Q2 2020. Earnings per share were 21¢, 17¢ ahead […]
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MedTech 100 roundup: Industry continues climb
One week after hitting an all-time best mark, the medtech industry has done it again, reaching new heights on Wall Street. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — continued its rise, finishing the week (July 9) at 114.79 points, a rise of 0.2% from the 114.59-point mark […]
Conformis, Stryker settle in Wright Medical patent infringement litigation
Conformis (NSDQ:CFMS) announced today that it settled with Stryker (NYSE:SYK) to resolve patent litigation involving Wright Medical. Billerica, Mass.based Conformis said in a news release and SEC filing that Stryker — which acquired Wright Medical in November 2020 — will make a one-time $15 million payment to Conformis. Stryker in return will receive a non-exclusive license […]
Conformis slides on mixed-bag Q1 results
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 […]
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 […]
