Shares of Fuse Medical (OTCMKTS:FZMD) jumped a bit on Wednesday. However, the stock is still down 29% in the past month.
Trading Data
On Wednesday, FZMD stock ended flat at $0.4890 with more than 1.80k shares traded, compared to its average volume of 23.9k shares. The stock has moved within a range of $0.4890 – 0.4890 after opening trading at $0.31.
Fuse Medical Announces Exclusive US Distribution Agreement with BRM Extremities for Silktoe Arthroplasty Implant
Emerging manufacturer and distributor of innovative medical devices for spine and orthopedic marketplace, Fuse Medical (OTCMKTS:FZMD), announced on December 15, 2021, an official distribution partnership with BRM Extremities S.r.l. for exclusive US national distribution of Silktoe metatarsophalangeal joint arthroplasty implant.
Silktoe gives patients with severe arthritis in the metatarsophalangeal joint. Derived from historical Silastic toe arthroplasty devices, the design is evolved for offering an anatomical fit.
Comprising of elastomeric silicone spacer being placed in two bones during toe arthroplasty, it is available in five different sizes specific to right or left foot.
Silktoe aims for arthroplasty of the first metatarsophalangeal joint of the foot. Representing a permanent implant, it is harnessed in types of arthritis.
Christopher C. Reeg, Chief Executive Officer of Fuse said that the addition of Silktoe to the lower extremity portfolio aligns with the firm’s focus on delivering products. Reeg added that the versatility of the device is better than other toe arthroplasty products. He expressed excitement about partnering with BRM and looks forward to expanding his distribution footprint.
The CEO opined that the company is committed to adding innovative and proven devices to its comprehensive portfolio of products and the newer technologies such as Silktoe, demonstrating its priority to provide effective solutions for today’s clinical challenges.
Key Quote
“Adding Silktoe® to our lower extremity portfolio aligns with Fuse’s focus on delivering products based on replication of anatomical motion,” commented Christopher C. Reeg, Chief Executive Officer of Fuse. “Historical designs that led to the evolution of Silktoe® have a significant history in the lower extremity market. While there are other options available, we believe the versatility of the device is superior to other toe arthroplasty products. We are excited to partner with BRM and look forward to expanding our distribution footprint with them in the US market.”
Technical Data
FZMD stock is trading below the 20-Day and 50-Day Moving averages of $0.5462 and $0.6091 respectively. However, the stock is trading above the 200-Day moving average of $0.2728. The stock is down 29% in the past month.
