Conformis, Inc. - CFMS STOCK NEWS

Conformis, Inc. (NASDAQ: CFMS) will announce its Q2 2021 financial results on August 4, 2021, after market close. A conference call, led by CEO Mark Augusti and CFO Bob Howe, will take place at 4:30 p.m. Eastern Time on the same day. Investors can access the details via webcast or telephone, with a conference ID of 7040896. The company's innovative iFit Image-to-Implant technology offers customized joint replacements, aiming for better patient outcomes compared to conventional implants. More information will be available on their Investor Relations website.

Conformis has entered the Asia-Pacific market via an exclusive distribution agreement with XR Medical Group to sell its personalized knee replacement systems, including iTotal® CR & PS systems and iUni® implants. This partnership targets Hainan’s Boao Lecheng International Medical Tourism Pilot Zone, enhancing Conformis' global presence. The Asia-Pacific knee joint reconstruction market exceeds $1.7 billion and is poised for high growth due to rising knee disorders and medical tourism. The company aims to leverage XR Medical's track record for further expansion in the region.

Conformis, a leader in personalized orthopedic medical devices, announced that CEO Mark Augusti will present at the Oppenheimer MedTech Summit on May 26, 2021. A webcast of the virtual presentation will be available on the summit day. Additionally, Conformis management will host one-on-one meetings with attendees. For further inquiries or to schedule meetings, interested parties can contact Conformis Investor Relations. The presentation's replay will be accessible for 30 days on Conformis' website under the 'Events and Presentations' section.

Conformis, Inc. (NASDAQ: CFMS), a leader in personalized orthopedic medical devices, announced that CEO Mark Augusti and CFO Bob Howe will present at the Canaccord Genuity Musculoskeletal Conference on May 20, 2021, at 10:30 a.m. ET. A live webcast will be available, and one-on-one meetings with management can be arranged. Conformis specializes in developing customized knee and hip replacements using its proprietary iFit® technology, delivering individually sized implants to accommodate unique patient anatomies.

Conformis, Inc. (CFMS) announced FDA 510(k) clearance for its Identity Imprint Knee Replacement System on May 10, 2021. This system, available in cruciate retaining and posterior stabilized versions, offers a cost-effective solution with faster delivery times. Using a proprietary algorithm, it optimizes implant selection based on CT scans, enhancing surgical efficiency. The knee joint reconstruction market is projected to exceed $9 billion, with 1 million knee replacements expected in the U.S. this year, indicating a growing demand for efficient, personalized orthopedic solutions.

Conformis, Inc. (NASDAQ:CFMS) reported Q1 2021 results with total revenue of $13.8 million, down 16% year-over-year. Product revenue also decreased by 16%, with the Conformis Hip System revenue rising 49% to $0.7 million. The company achieved a gross margin of 45%, up 80 basis points year-over-year. Operating expenses remained flat at $15.3 million. A net loss of $11.5 million was reported, with cash equivalents totaling $104.6 million. The company anticipates revenue growth in Q2 and improved elective procedure volumes in the latter half of 2021.

Conformis, Inc. (NASDAQ:CFMS) announced FDA clearance for its patient-specific instrumentation (PSI) for Stryker’s Triathlon® Total Knee System. This marks the completion of the joint development agreement with Stryker, allowing Conformis to receive $11 million. CEO Mark Augusti emphasized the importance of this achievement despite recent global challenges and highlighted future plans for a long-term distribution agreement to manufacture and supply PSI to Stryker. This initiative aims to enhance shareholder value by meeting the growing demand for outpatient joint replacement surgeries.

Conformis, Inc. (NASDAQ: CFMS) announced a licensing agreement with Paragon 28, Inc. on April 19, 2021, allowing Paragon 28 to use Conformis' patient-specific instrument technology for its APEX 3D™ Total Ankle Replacement System. This partnership highlights the applicability and clinical appeal of Conformis' technology. Conformis specializes in customized joint replacement solutions, utilizing its proprietary iFit® Image-to-Implant® technology. The company remains committed to advancing personalized surgical instrumentation and implants.

Conformis, Inc. (NASDAQ: CFMS) will announce its first-quarter financial results for the period ended March 31, 2021, on May 5, 2021, post-market at 4:00 p.m. ET. The management team, including CEO Mark Augusti and CFO Bob Howe, will conduct a conference call and webcast at 4:30 p.m. ET to discuss results and provide updates. The company's patient-specific joint replacement implants demonstrated superior clinical outcomes in studies. For the earnings release, visit the Investor Relations website before the conference call.