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 […]
Conformis gains 510(k) for personalized knee tech
Conformis (NSDQ:CFMS)Conformis today said it received FDA 510(k) clearance for its iTotal Identity PS Knee System. The system uses advanced imaging and design software to help deliver patient-specific pre-operative surgical plans with a comprehensive set of iJig instruments and patient-matched implants. The system updates features stem extensions available for patients with high body mass index, titanium […]
Zimmer Biomet to pay Conformis $9.6m to settle patent disputes
Conformis (NSDQ:CFMS) and Zimmer Biomet (NYSE:ZBH) have agreed to settle all patent disputes over Conformis’ knee and hip replacement products and Zimmer’s knee, shoulder and hip replacement devices, according to an SEC filing today. The two companies have also agreed to cross-license their respective technologies, and Zimmer Biomet will pay Conformis $9.6 million by January 15, 2021, […]
Medtech 100 roundup: Stocks dip slightly after strong start to month
Medtech stocks ticked down over the course of last week as the COVID-19 pandemic continues to bear economic ramifications. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 82.4 points at the end of last week (May 15). That total represents a -1.9% decline from the 83.98-point […]
Conformis slides on missed Q1 projections
Conformis (NSDQ:CFMS) shares plummeted today on first-quarter results that came up considerably short of the consensus forecast. The Billerica, Mass.-based joint replacement implants company posted losses of -$9.4 million, or -14¢ per share, on sales of $16.3 million for the three months ended March 31, 2020, for a 23.3% bottom-line slide on a sales decline of […]
DeviceTalks Weekly: Ep.7 – Edwards, employment news, update on clinical trials from Avania
In this week’s episode of DeviceTalks Weekly, Tom Salemi and Chris Newmarker stare at each other through the Zoom lens while talking about the positive employment news from Baxter International and Conformis, the hopeful news from Edwards Lifesciences, and the cautionary tone from Medtronic. What can we expect from the rest of medtech? In the […]
Conformis furloughed employees are returning
Conformis today said its full-time employees that were furloughed in March will return to active employment as early as April 27. The employees’s return is due to a $4.7 million loan made available to the company under the Paycheck Protection Program offered by the U.S. Small Business Administration. Conformis originally announced on March 23 that […]
Conformis receives $4.7m through Paycheck Protection Program
Conformis (NSDQ:CFMS) announced today that it received more than $4.7 million through the U.S. Small Business Administration’s Paycheck Protection Program. The Billerica, Mass.-based joint replacement implants company entered into the promissory note totaling $4,719,800 with East West Bank in an effort to mitigate the negative impacts of the COVID-19 pandemic. The Coronavirus Aid, Relief & Economic […]
Conformis furloughs a third of its employees amid coronavirus pandemic
Conformis (NSDQ:CFMS) announced today that it is furloughing a third of its employees and tossed out its 2020 financial guidance amid the coronavirus crisis. The Billerica, Mass.–based orthopedic arthroplasty technology company’s furlough includes approximately 80 employees and substantially all of its temporary workforce, effective today. Conformis said it identified essential and non-essential functions to its business […]
FDA clears new Conformis VHP sterilizers
Conformis (NSDQ:CFMS) has secured an FDA 510(k) clearance for its new vaporized hydrogen peroxide (VHP) sterilizers, the company said in an SEC filing filed this week. In December 2019, Conformis announced that it received a warning from the FDA regarding issues related to the VHP sterilizers that it uses as an alternative sterilization method for a […]
Conformis down on mixed Q4 results
Conformis (NSDQ:CFMS) shares took a hit today on fourth-quarter results that beat the consensus forecast on earnings but came up just shy on sales. The Billerica, Mass–based orthopedic device maker posted losses of -$5.4 million, or -8¢ per share, on sales of $19.89 million for the three months ended Dec. 31, 2019, for a more than […]
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