Welcome to our dedicated page for Modular Medical news (Ticker: MODD), a resource for investors and traders seeking the latest updates and insights on Modular Medical stock.
Modular Medical Inc., based in Beacon House Orchard Farm Ivinghoe Aston, Buckinghamshire, United Kingdom, is a development-stage medical device company focused on designing, developing, and commercializing an insulin pump using modernized technology to increase pump adoption in the diabetes marketplace. Their products target both type 1 and rapidly growing type 2 diabetes markets, especially in terms of device adoption.
The latest news from Modular Medical Inc. announced their commencement of an underwritten public offering of shares of its common stock to fund operations and maintain working capital. Titan Partners Group, a division of American Capital Partners, is the sole book-running manager for the offering. The company intends to utilize the net proceeds from the offering for capital expenditures and general corporate purposes.
Modular Medical's mission is to provide top-quality insulin delivery that is both affordable and easy to learn, extending glycemic control access to a wider audience. The company's founder, Paul DiPerna, is a seasoned medical device professional with a background in microfluidics engineering and an innovative history in the diabetes market, previously founding Tandem Diabetes and its t:slim insulin pump.
Modular Medical (NASDAQ:MODD) has initiated the transfer of its pilot line manufacturing operations to Phillips Medisize's facility in Queretaro, Mexico. This move is part of the company's transition from pre-commercial production to high-volume device manufacturing for its MODD1 Insulin Delivery System. The manufacturing transfer is occurring alongside the ongoing FDA 510(k) review process for the MODD1 system.
Phillips Medisize, a Molex company, will manufacture the MODD1 system in its Queretaro clean room, while the printed circuit board assembly will be produced in its Guadalajara electronics facility. The company expects to have the manufacturing operation validated and ready for human-use production early next year. Phillips Medisize has been important in providing manufacturing expertise and leveraging its global supplier base for the MODD1 system's development.
Modular Medical (NASDAQ:MODD) has announced a proof-of-concept study with Gubra A/S to explore the potential use of its MODD1 pump platform for delivering short-acting peptides as an alternative for patients who discontinue long-acting GLP-1 formulations. The study will use a high-fat, diet-induced obese (DIO) mouse model to determine if an FDA-approved, short-acting peptide delivered via pump can provide comparable glycemic control and weight loss with improved tolerability for people with type 2 diabetes and obesity.
This research aims to address the high discontinuation rates of GLP-1 drugs due to tolerability issues, cost, and inconsistent efficacy. Modular Medical believes that pump technology could simplify and improve dosing regimens for short-acting peptides, potentially offering a more personalized and tolerable solution for patients who struggle with long-acting GLP-1 therapies.
Modular Medical (NASDAQ: MODD), a company focused on developing user-friendly and affordable insulin pump technology, has announced its addition to the Russell Microcap Index. This inclusion will take effect on July 1, 2024, following the annual reconstitution of the Russell indexes.
Membership in the Russell Microcap Index will last for one year, providing Modular Medical automatic inclusion in various growth and value style indexes. FTSE Russell, which oversees this inclusion process, determines membership based on objective market-capitalization rankings and style attributes. The Russell indexes are widely utilized by investment managers and institutional investors, with approximately $10.6 trillion in assets benchmarked against these U.S. indexes.
This development could enhance Modular Medical's visibility and attract more investors.
Modular Medical (NASDAQ: MODD), a development-stage company focused on innovative insulin delivery technologies, announced its participation in the Lytham Partners Spring 2024 Investor Conference on May 30, 2024. The conference will be held virtually, and the company will deliver a webcasted presentation at 3:30 p.m. ET. CEO Jeb Besser will also host one-on-one meetings with investors. The webcast can be accessed through the conference home page and will be available for replay.
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