Why is ConforMIS (CFMS) Up 50% So Far This Year?

The ConforMIS Inc (NASDAQ: CFMS) stock has been on the radars of many investors this year so far and it can be gauged from the gains it has made in the period.

The stock is up by as high as 50% in 2021 so far and in light of such handsome gains, it might be a good idea for investors to take a closer look at it. Earlier this month, the company made a major announcement with regards to its iTotal total knee replacement system and that proved to be another positive trigger for the stock. ConforMIS announced that the Therapeutic Goods Administration, which falls under the Australian Department of Health, cleared the product for use in Australia.

The Therapeutics Goods Administration clearance means that the medical device can now be marketed in Australia. It is a major development for ConforMIS and marks a key milestone for the company. Investors could consider keeping the stock in their watch lists at this point.

Jack Dawkins

Finance and Tech Contributor

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