How does a company that takes in over $400M funding get into this situation?

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Conformis to lay of 10% of workforce (MassDevice)
ConforMIS (NSDQ:CFMS) said yesterday that it plans to lay off about 10% of its workforce as it aims to put black ink in the ledger in 2021.

Billerica, Mass.-based ConforMIS, which makes customized knee and hip implants, had 350 employees as of Feb. 28, according to a regulatory filing. The cuts are expected to cost about $700,000 in severance and other exit charges during the fourth quarter, generating savings of more than $4 million next year, the company said.
“We are taking decisive actions to prioritize our highest-impact ne...

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