ConforMIS (CFMS) Stock Boosted By the FDA Clearance News

CFMS stock is getting a lot of attention this morning as ConforMIS Inc (NASDAQ:CFMS) has got a 510(k) clearance from the U.S. FDA for it’s Identity Imprint Knee Replacement System.

ConforMIS (CFMS) Stock Boosted By the FDA Clearance News

Identity Imprint is a new total knee replacement system, available in both cruciate retaining (CR) and posterior stabilized (PS) versions, that expands the range of options open to Conformis’ orthopedic surgeon customers and their patients.

There is no doubt that its important news and hence investors are buying into the stock in pre-market trading.

Related:  Rolls-Royce (RLLCF) Moves Up Again: Should You Buy Now?

CFMS stock is up by 36.66% at $1.14 on very unusual volume.

Last week, the company reported a 16% fall in revenue to $13.8 million for the first quarter. The gross margin saw an improvement of 80 basis points to 45%.

Net loss during the quarter came in at $11.5 million, or 9 cents a share, compared to a year-ago loss of $9.4 million, or 14 cents a share.

CFMS stock is up almost 27% year-to-date.

 

 

Jack Dawkins

Finance and Tech Contributor