ConforMIS (CFMS) IPO Opens Up 20%

Today's IPO for ConforMIS, Inc. (Nasdaq: CFMS) opened for trading at $18 after pricing 9,000,000 shares of common stock at a public offering price of $15 per share, the middle of the expected $14-$16 range.

J.P. Morgan and Deutsche Bank Securities are acting as joint book-running managers for the offering. Wells Fargo Securities, Canaccord Genuity and Oppenheimer & Co. are acting as co-managers.

ConforMIS is a medical technology company that uses its proprietary iFit® Image-to-Implant® technology platform to develop, manufacture and sell joint replacement implants that are individually sized and shaped, or customized, to fit each patient’s unique anatomy. ConforMIS offers a broad line of customized knee implants designed to restore the natural shape of a patient’s knee. In recent clinical studies, iTotal® CR, ConforMIS’ cruciate-retaining total knee replacement implant and best-selling product, demonstrated superior clinical outcomes, including better function and greater patient satisfaction compared to traditional, off-the-shelf implants. ConforMIS owns or exclusively in-licenses approximately 470 issued patents and pending patent applications that cover customized implants and patient-specific instrumentation for all major joints and other elements of the iFit® Image-to-Implant® technology platform. ConforMIS believes its iFit® Image-to-Implant® technology platform has application to other major joints in the worldwide market for joint replacement products.

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