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Tag: CFMS

  • Conformis, Inc. (CFMS) Stock on the Rise as it Prepares to Present at Canaccord Genuity 40th Annual Growth Conference

    Conformis, Inc. (CFMS) Stock on the Rise as it Prepares to Present at Canaccord Genuity 40th Annual Growth Conference

    Conformis, Inc. (CFMS) stock prices were up 7.62% as of market trading closing on July 16th, 2021, bringing the price per share up to USD$1.13 at the end of the trading day. Subsequent premarket fluctuations have seen the stock rise by 6.19%, bringing it up to USD$1.23.

    Settlement Agreement

    July 7th, 2021 saw the company announce having entered into a settlement agreement with Stryker Corp., thus putting to rest ongoing patent litigation in regard to Wright Medican Technology and Tornier, which were acquired by Stryker in November of 2020. The resolution of the patent litigation over the Wright Medical dispute signals the strength and value of the company’s intellectual property, as well as their unwavering commitment.

    Details of the Lawsuit

    April 24th, 2020 had seen CFMS file a lawsuit against Wright Medical in the United States District Court for in Delaware. The lawsuit alleged that the defendant’s various lines of patient-specific shoulder instruments infringed existing patents, as did implant components used in conjunction with the instruments. As per the terms of the settlement agreement, Stryker is set to make a one-time payment to CFMS, which will grant it a non-exclusive license for some of the company’s patents.

    Distribution Agreement

    June 23rd, 2021 had seen the company announce the execution of an agreement with XR Medical Group, which would see the company enter the Asia-Pacific market through an exclusive distribution relationship. As per the distribution agreement, XR Medical will be granted exclusive rights for the sale, marketing, and distribution of CFMS’ patient-specific iTotal CR and PS total knee replacement systems. Also included in the agreement are the iTotal CR and PS patella devices, as well as the iUni and iDuo partial knee replacement systems. The agreement also allows for the proactive additional of CFMS’s expanding product portfolio into the terms of the agreement.

    Scope of Market

    With the global market for knee joint reconstruction being pegged in excess of USD$9 billion, the Asia-Pacific region makes up an estimated USD$1.7 billion of the burgeoning marketspace. The company is keen to see the fruition of Fortune Business Insights’ forecasts of continued increases in the rate of growth, stemming largely from an increased prevalence of knee disorders, surges in medical tourism, higher disposal incomes, as well as improved healthcare infrastructure.

    Future Outlook for CFMS

    Armed with the resolution to their litigation issues, the company is poised to allocate its resources towards penetrating the newly accessed Asia-Pacific market. CFMS is keen to push for the continued commercialization and increased proliferation of its myriad of treatment options. Investors are hopeful that management will be able to usher in significant and sustained increases in shareholder value over the long term.

  • Conformis Inc. (CFMS) stock soared in the after-hours trading session; here’s why

    Conformis Inc. (CFMS) stock soared in the after-hours trading session; here’s why

    In the after-hours trading session, Conformis Inc. (CFMS) stock soared by 10.47% to the price of $0.95 at the time of writing. CFMS stock closed the previous session at $0.86 which is a gained 6.12% gain. The CFMS stock volume traded 1.81 million shares. The average daily volume of stock for the past 3 months is 5.41 million. In the past year, CFMS stock soared by 26.47%. In the past week, the stock had gained by 3.74%. In the past three and six months, the CFMS shares had lost -38.13%and gained 9.47% respectively. Conformis Inc. (CFMS) is currently valued in the market at $153.52 million and has a total of 182.43 million outstanding shares.

    Conformis Inc. has a niche product offering in joint replacement implants

    Conformis Inc. is a medical technology company that specifically focuses on joint replacement implants. The company designs, manufactures, and markets these implants and have a product offering which aim to treat the medial, lateral, posterior compartment of the knee; cruciate-retaining product, posterior cruciate ligament substituting product, personalized bicompartmental knee replacement system, and personalized unicompartmental knee replacement product. Knees aren’t the only part the company specializes in replacement; the company also focuses on hip replacement products as well.

    All of the products at Conformis Inc. are customized or personalized to the needs of the patients and also consist of single-use instruments that are required by ambulatory surgical centers and hospitals. Many of the company’s major joint replacement products are patented or proprietary.

    Hitting a milestone in its agreement with Stryker Corporation

    Conformis Inc. has hit another milestone in the project of the joint development agreement with Stryker Corporation. The company announced today – 23rd April 2021, that it has been given approval by the Food and Drug Administration in the USA for the Patent Specific Instrumentation. This PSI was developed by Conformis Inc. for Howmedica under its License and Development Agreement.

    Howmedica is owned by Stryker Orthopaedics as a full subsidiary and it entered into an agreement with Conformis Inc. to work on the Stryker’s Triathlon® Total Knee system with which the now-cleared PSI system is also used. PSI clearance is now the third milestone achieved in this project, despite the testing times of the pandemic, Stryker will now be subjected to delivering $11.0 million to Conformis Inc.

    What is the next step?

    The next step for the company in this partnership is to focus on a long-term distribution agreement for Conformis Inc. to supply the PSI system to meet the demands of Stryker.

    Agreement for the provision of non-exclusive license to Paragon 28

    Previously on 19th April 2021, the CFMS stock had announced another agreement. This time it was a non-exclusive license agreement granted to Paragon 28 subject to a subset of Conformis Inc. US patents for the use of patient-specific instruments technology for Paragon 28’s use of APEX 3DTM Total Ankle Replacement System.

    Growth in licensing agreements and collaborative commercial project is good for CFMS stock

    CFMS stock is performing well due to the company expanding its distinguished medical replacement products and now focusing on the collaboration and partnership for securing long-term deals of its patented technology and products.

  • Pre-Market Cues: 28 Stocks Roaring for Change On December 18th

    Pre-Market Cues: 28 Stocks Roaring for Change On December 18th

    Seneca Biopharma Inc. (SNCA), a Biotechnology company, rose about 0.2% at $0.96 in pre-market trading Friday after declaring merger agreement with Leading BioSciences, Inc. under which a wholly owned subsidiary of Seneca will merge with LBS in an all-stock transaction.

    Palantir Technologies Inc. (PLTR) lost over -3.97% at $26.15 in pre-market trading Friday December 18, 2020 after reporting that it will hold its inaugural “Live Demo Day” on Tuesday, January 26, 2021 at 4:30pm ET.

    Atossa Therapeutics Inc. (ATOS) stock plunged -0.02% to $0.86 in the pre-market trading following its declaration of pricing of $14.0 million registered direct offering priced at-the-market. The most recent rating by Maxim Group, on January 26, 2018, is a Buy.

    Virgin Galactic Holdings Inc. (NYSE: SPCE) shares are trading down -6.27% at $23.9 at the time of writing. The company recently revealed an update following its test flight on December 12, 2020. Company’s 52-week ranged between $9.06 to $42.49. Analysts have a consensus price target of $19.

    BlackBerry Limited (BB), a Software – Infrastructure company, dropped about -4.36% at $7.9 in pre-market trading Friday after releasing its financial results for the three months ended November 30, 2020

    Before the trading started on December 18, 2020, Uxin Limited (UXIN) is up 4.5% to reach $1.16 following its announcement of unaudited financial results for the quarter ended September 30, 2020. It has been trading in a 52-week range of $0.72 to $3.07.

    Coeur Mining Inc. (CDE) stock plunged -2.98% to $10.76 in the pre-market trading. The firm recently revealed details of the expansion of its Rochester silver-gold mine in Nevada, reflecting significant reserve growth and the benefits of a larger-scale expansion project. The most recent rating by Noble Capital Markets, on September 14, 2020, is an Outperform.

    Novan Inc. (NASDAQ: NOVN) shares are trading up 6.25% at $0.68 at the time of writing. The company lately reported that it has enrolled 525 patients of the approximately 850 patients expected to enroll in the B-SIMPLE4 pivotal Phase 3 clinical study of SB206. Company’s 52-week ranged between $0.22 to $3.72.

    CNS Pharmaceuticals Inc. (CNSP), a Biotechnology company, rose about 15.2% at $2.88 in pre-market trading Friday after announcing FDA approval of IND application for its brain cancer drug candidate Berubicin.

    United States Steel Corporation (X) stock moved down -4.26 percent to $17.77 in the pre-market trading after reporting that fourth quarter 2020 adjusted EBITDA is expected to be approximately $55 million and expected fourth quarter 2020 adjusted diluted loss per share to be approximately ($0.85).

    BioCardia Inc. (BCDA) lost over -6.09% at $4.01 in pre-market trading Friday December 18, 2020 following an announcement from the firm that the independent Data Safety Monitoring Board (DSMB) has completed its prespecified data review for the Phase III pivotal CardiAMP Heart Failure Trial.

    Before the trading started on December 18, 2020, Ampio Pharmaceuticals Inc. (AMPE) is up 8.43% to reach $1.93 after revealing the completion of its Phase I clinical trial and initiation of the first steps for a global Phase II clinical trial for intravenous (“IV”) Ampion treatment in COVID-19 patients. It has been trading in a 52-week range of $0.31 to $1.69.

    Drive Shack Inc. (NYSE: DS) shares are trading up 5.47% at $3.47 at the time of writing following the opening of its 65,000-square-foot entertainment golf venue located in Orlando. Company’s 52-week ranged between $0.86 to $4.19. Analysts have a consensus price target of $4.

    IZEA Worldwide Inc. (IZEA) tumbled over -3.7% at $1.04 in pre-market trading today. The company recently reported that it has just been awarded a mid-six figure contract from a Fortune 500 Manufacturer.

    Exela Technologies Inc. (XELA), a Software – Application company, rose about 81.87% at $0.66 in pre-market trading Friday after declaring that it has entered into a 5-year, $145 million term loan facility with Angelo Gordon, a global alternative investment firm.

    FedEx Corporation (FDX) stock moved down -2.89 percent to $283.8 in the pre-market trading after declaring strong results for the quarter ended November 30.

    Guardion Health Sciences Inc. (GHSI) stock plunged -2.13% to $0.23 in the pre-market trading. The firm recently declared progress on the introduction of its new vision support/energy drink, Epiq-V, which is under development for the United States and international markets.

    Amyris Inc. (NASDAQ: AMRS) shares are trading up 3.68% at $4.23 at the time of writing. Company’s 52-week ranged between $1.40 to $6.07. Analysts have a consensus price target of $3.35.

    Mereo BioPharma Group plc (MREO), a Biotechnology company, rose about 40.27% at $3.1 in pre-market trading Friday following the declaration of a license and collaboration agreement with Ultragenyx Pharmaceutical Inc. (RARE), for setrusumab, a monoclonal antibody in clinical development for osteogenesis imperfecta (OI).

    Surface Oncology Inc. (SURF) gained over 17.51% at $10.0 in pre-market trading Friday December 18, 2020 after revealing exclusive license agreement with GSK for novel immunotherapy program.

    Neovasc Inc. (NVCN) is down more than -8.52% at $0.91 in pre-market hours Friday December 18, 2020 after reporting the publication of peer-reviewed article in EuroIntervention. The stock had jumped over 3.61% to $0.99 in the last trading session.

    BioLineRx Ltd. (BLRX) tumbled over -1.1% at $2.7 in pre-market trading today. The firm lately declared final results from Phase 2a COMBAT/KEYNOTE-202 triple combination study of Motixafortide in second line Metastatic Pancreatic Cancer (PDAC).

    VYNE Therapeutics Inc. (VYNE), a Biotechnology company, rose about 8.05% at $1.88 in pre-market trading Friday after declaring the successful completion of its End-of-Phase 2 Meeting with the U.S. Food and Drug Administration (FDA).

    Before the trading started on December 18, 2020, Mesoblast Limited (MESO) is down -26.75% to reach $9.94 after announcing an update on COVID-19 ARDS trial. It has been trading in a 52-week range of $3.12 to $21.28.

    Applied DNA Sciences Inc. (APDN) stock plunged -12.02% to $5.49 in the pre-market trading after reporting consolidated financial results for the full fiscal year and quarter ended September 30, 2020. The most recent rating by H.C. Wainwright, on July 20, 2020, is a Buy.

    Conformis Inc. (NASDAQ: CFMS) shares are trading up 3.8% at $0.6693 at the time of writing. The firm lately revealed the U.S. commercial launch of the Company’s new Cordera™ Match Hip System. Company’s 52-week ranged between $0.50 to $1.66.

    Auris Medical Holding Ltd. (EARS) grew over 1.5% at $2.7 in pre-market trading today. The company recently provided a business update related to the Company’s funding position, its AM-301 program for the protection against airborne pathogens and allergens and the ongoing strategy review process.

    Sonoma Pharmaceuticals Inc. (SNOA) stock moved up 19.79 percent to $9.14 in the pre-market trading following the announcement of partnership with Gabriel Science, LLC for dental.