Conformis enters license agreement with Paragon 28 » 16:3204/1904/19/21
Conformis announced that…
Conformis announced that it has entered into a license agreement with Paragon 28, granting Paragon 28 a non-exclusive license under a subset of Conformis' U.S. patents for the use of patient-specific instruments with off-the-shelf implants in Paragon 28's APEX 3D total ankle replacement system. "We are pleased to reach this agreement with Paragon 28, enabling it to incorporate our patient-specific instrument technology in its anticipated total ankle replacement offering," said Mark Augusti, president and CEO. "We believe that this latest license agreement further demonstrates the broad applicability and clinical appeal of Conformis' technology."
|Over a month ago|
Conformis announces data from review of Conformis iTotal knee replacement tech » 07:1503/1603/16/21
Conformis announced that…
Conformis announced that an independent, retrospective review of hospital data has concluded that Conformis iTotal knee replacement technology is more cost-effective than leading traditional, off-the-shelf implants. Importantly, this study was independently performed with no sponsorship or funding from Conformis. The new abstract was presented by authors at the Orthopaedic Research Society 2021 Annual Meeting, held in February 2021: Custom-designed total knee arthroplasty is cost-effective in comparison to a standard implant, Navin Fernando MD, Ann Chancellor CCRC, Paul Manner MD, University of Washington, Seattle, WA, 2021 Proceedings of Orthopaedic Research Society, Paper 0980. The retrospective review was performed at a single medical institution between 2016 and 2019 using a financial database and electronic health records. Patient demographics, total direct costs, length of stay and opioid use were all investigated. Two groups were evaluated for procedures performed by a single surgeon, Dr. Paul Manner, MD, Joint Replacement/Hip and Knee Arthritis Professor in the Department of Orthopaedics and Sports Medicine at the University of Washington in Seattle. Procedures for a control group were performed by a second surgeon, Dr. Navin Fernando: Primary group - patient-specific implant; Comparison group - traditional implant; Control group - traditional implant performed by second surgeon. The median patient age was 66 years old, and the median BMI was 31 for the three groups. Mean LOS analysis: 1.35 days for Conformis iTotal patients; 1.99 days for Zimmer Persona patients; 1.83 for Stryker Triathlon patients. Total direct costs analysis: $9,341 for Conformis iTotal patients; $10,347 for Zimmer Persona patients; $10,604 for Stryker Triathlon patients. There was no apparent difference in morphine equivalent dose use amongst the three groups.. The study concludes that total direct costs for hospital admissions appear to be more cost-effective with the Conformis iTotal System, and variables such as operative time and LOS also appear to favor a patient-specific implant over traditional, off-the-shelf implants. Three other comparative studies published between 2017 and 2019 also demonstrate that Conformis iTotal implants drive savings for hospitals and insurance companies.
Conformis undervalued despite momentum, says Canaccord » 07:5803/0403/04/21
Canaccord analyst Kyle…
Canaccord analyst Kyle Rose believes Conformis shares remain undervalued despite its year-to-date momentum. He said in the latest quarter the company executed on key R&D programs, and the recent capital raise provides an ample war chest to backstop near-term commercial volatility. Rose reiterated his Buy rating and $2 price target on Conformis shares.
Fly Intel: After-Hours Movers » 18:4003/0303/03/21
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Conformis sees Q1 product revenue $13M-$14M » 16:1503/0303/03/21
Historically, we see a…
Historically, we see a drop in first quarter revenue compared to the preceding fourth quarter as many health plans reset on January 1. In addition, we have continued to experience pressure on our business from reduced elective procedures into 2021. Accordingly, we expect our first quarter product revenue to be in the range of $13.0 million to $14.0 million. We believe this pressure will continue through the second quarter, but that we may see elective volumes improve in the third quarter as vaccines become more widely available.
Conformis reports Q4 EPS (8c), consensus (10c) » 16:1403/0303/03/21
Reports Q4 revenue…
Reports Q4 revenue $16.7M, consensus $17.68M. "Though the COVID-19 pandemic continues to create uncertainty in orthopedic procedure levels, Conformis has remained committed to the continuation of our new product development schedule. As such, we expect 2021 to be an exciting year in regards to new product offerings, especially our new total knee system. While this system can be used in the in-patient and out-patient settings, we are particularly focused on the ambulatory care setting," said Mark Augusti, President and Chief Executive Officer. "Our recently completed $85 million capital raise gives us the flexibility to drive our growth strategy."
Conformis granted 510k FDA clearance for iTotal Identity knee replacement system » 09:3502/2202/22/21
Conformis has been grated…
Conformis has been grated 510k FDA clearance for its iTotal Identity Cruciate Retaining Knee Replacement System and iTotal Identity Posterior Stabilizing Knee Replacement System, the FDA said on its website. Reference Link
Conformis 81M share Spot Secondary priced at $1.05 » 08:3502/1202/12/21
The deal size was…
The deal size was increased to $85M in common stock from $40M in common stock. Oppenheimer acted as sole book running manager for the offering.
Conformis announces common stock offering, no amount given » 16:0602/1102/11/21
Conformis announced that…
Conformis announced that it intends to offer shares of its common stock in an underwritten public offering. Conformis intends to use the net proceeds of the offering for general corporate purposes, which may include research and development costs, sales and marketing costs, clinical studies, manufacturing development, the acquisition or licensing of other businesses or technologies, repayment and refinancing of debt, working capital and capital expenditures. Oppenheimer & Co. is acting as the sole book-running manager for the offering.
Fly Intel: Pre-market Movers » 08:5501/2201/22/21
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