Modular Medical Uplists to OTCQB Venture Market
Modular Medical, Inc. (OTCQB:MODD) has officially uplisted to the OTCQB Venture Market, aiming to enhance trading liquidity and market visibility. Following three years of development, the company plans to submit its product for FDA approval this year, with a commercial launch anticipated in 2022. CEO Paul DiPerna emphasizes the mission to provide accessible diabetes technology to underserved insulin-dependent patients. The OTCQB standards ensure financial transparency and compliance, supporting the company's growth in the competitive diabetes care market.
- Successful uplisting to the OTCQB Venture Market enhances liquidity and trading visibility.
- Planned FDA submission and 2022 commercial launch signal potential growth in the insulin delivery market.
- Risks associated with product performance and timing of FDA submission could impact future prospects.
SAN DIEGO, CA / ACCESSWIRE / February 18, 2021 / Modular Medical, Inc. (OTCQB:MODD), a development-stage company in the diabetes/insulin delivery space, today announced its successful uplisting to the OTCQB® Venture Market. Modular Medical's common stock will continue to trade under the ticker "MODD."
The Company believes listing on the OTCQB will result in improved liquidity and facilitate trading of the Company's common stock while allowing the Company to expand its outreach efforts to increase investor awareness and interest.
"After over 3 years of development, the time has come for MODD to raise its profile with investors and in the diabetes industry in preparation for a 510(k) submission to the FDA this year and a 2022 commercial launch of our initial product," said CEO Paul DiPerna. "Our mission to provide simpler, more affordable access to the latest diabetes technology represents the next step in the expansion of insulin delivery for people with diabetes who have been poorly served by or have lacked access to existing complex, expensive products. It's time for all insulin dependent people to have access to the same care available to the "superusers." It's time for "diabetes care for the rest of us.""
Modular Medical is a development-stage company in the insulin pump space. The company was founded by Paul DiPerna the previous founder of Tandem® Diabetes Care (TNDM), an industry professional with over 30 years of experience in medical devices and who has led 10 projects to FDA approval and holds over 70 patents in micro-fluidics.
The OTCQB Venture Market, which is operated by OTC Markets Group Inc., is a premier market for entrepreneurial and development stage U.S. and international companies that are committed to providing investors high-quality trading and improved market visibility to enhance trading liquidity. To be eligible, companies must be current in their financial reporting with the SEC, pass a minimum bid price test and undergo an annual company verification and management certification process. The OTCQB quality standards provide a baseline for financial transparency and provide more comprehensive compliance requirements.
About Modular Medical, Inc.
Modular Medical, Inc. (OTCQB: MODD) is a development-stage, insulin delivery company. The Company's founder, CEO and lead stockholder is Paul DiPerna, who was the previous founder and chief technical officer of Tandem Diabetes Care. Mr. DiPerna's vision is that the leading insulin pump companies are too focused on "superusers," people with diabetes with the time, motivation and resources to utilize complex, expensive products. As a result, these entities have largely neglected the approximately one million people in the United States who still rely on daily injections for treatment. Modular seeks to expand the insulin delivery marketplace to these underserved patients, so they can benefit from Modular's advanced technology to assist in their care. The Company is based in San Diego, CA. More information is available at www.modular-medical.com.
Forward-Looking Statements
This press release may contain "forward-looking statements" about Modular Medical, including, without limitation, the expected benefits of listing on the OTCQB, its ability to increase investor outreach and interest, timing of its submission to the FDA for regulatory approval and expected commercialization of its product. Forward-looking statements are based on certain assumptions and expectations of future events that are subject to risks and uncertainties. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results and trends may differ materially from historical results or those projected in any such forward-looking statements depending on a variety of factors. These factors include, but are not limited to, the availability and performance of its pump product and timing of its FDA submission and commercialization of its product, ability to maintain its listing on the OTCQB and other risks identified in the Company's most recent reports on forms 10-Q and 10-K filed with the Securities and Exchange Commission, as well as other reports that the Company files from time to time with the Securities and Exchange Commission. Modular Medical undertakes no obligation to update publicly any forward-looking statement for any reason, except as required by law, even as new information becomes available or other events occur in the future.
All trademarks mentioned herein are the property of their respective owners.
CONTACT:
Investor Relations
Modular Medical, Inc.
+1 (858) 800-3500
IR@modular-medical.com
SOURCE: Modular Medical, Inc.
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