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CFMS - Conformis down 38% premarket on softer revenue outlook
Conformis Inc.
Conformis (NASDAQ:CFMS) slumps 38% premarket on modest volume in reaction to its guidance for flat revenue growth this year due mainly to denials of coverage from Aetna, adding that the rate of denials has "increased substantially" in the last few months. The company says it has submitted its clinical and economic data to the insurer and believes that it is reviewing its coverage policy.
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