CFMS - Conformis shares surge on iTotal PS clearance in Australia

Conformis'(CFMS) stock jumps more than 17% during premarket trading after the company announced the clearance of its patient-specific iTotal PS total knee replacement system by the Therapeutic Goods Administration in Australia.The iTotal PS system, which launched in the United States in 2016, is designed to address the shortcomings of traditional, off-the-shelf knee replacements that are manufactured in limited sizes and shapes.The global knee joint reconstruction market is projected at more than $9B, the company said.

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Conformis shares surge on iTotal PS clearance in Australia