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Tag: CFMS STOCK

  • 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.