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.
Rhea-AI Summary
Modular Medical, Inc. (MODD) successfully closed an underwritten public offering of 9,090,910 shares of common stock, generating approximately $10 million in gross proceeds. The offering was led by Manchester Explorer, L.P. and other institutional investors at a price of $1.10 per share. The company intends to utilize the net proceeds for operational purposes, working capital, and general corporate needs.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.13%
Tags
-
Rhea-AI Summary
Modular Medical, Inc. (MODD) announces a public offering of 9,090,910 shares of common stock at $1.10 per share, led by Manchester Explorer, L.P., to raise approximately $10 million for insulin delivery technology development.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
39.44%
Tags
-
Rhea-AI Summary
Modular Medical, Inc. (Nasdaq: MODD) has announced the commencement of an underwritten public offering of shares of its common stock or pre-funded warrants. The company also plans to grant the underwriter a 30-day option to purchase additional shares. The offering is subject to market conditions and Modular Medical will sell all the shares. Titan Partners Group is the sole book-running manager for the offering. The offering is made under an effective shelf registration statement and may only be offered through a prospectus.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
39.44%
Tags
Rhea-AI Summary
Modular Medical, Inc. (NASDAQ:MODD) has announced the issuance of U.S. Patent 11,817,197 B2 for the stream-lined pairing of a pump to a mobile device. The patent protects the technology addressing pairing and the downloading of patient data, making it easier for clinicians to upload and review. The company's Chairman and CTO, Paul DiPerna, emphasized the importance of using technology to simplify the adoption and use of pump technology for patients and caregivers, addressing cybersecurity risks and the complexity of pairing multiple devices. The CEO, Jeb Besser, highlighted the strategic value of their patents and the company's positioning in the market.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.52%
Tags
-
Rhea-AI Summary
Modular Medical, Inc. (MODD) has announced the premarket submission of its MODD1 next-generation insulin pump to the FDA for 510(k) clearance. The company aims to launch a user-friendly and affordable insulin pump technology to change the diabetes market. The CEO and Chairman believe that the simplified design will encourage more people to adopt technology for diabetes management. The company also plans to obtain the UKCA mark to market the MODD1 in the United Kingdom and move its pilot production line to prepare for commercial launch.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.92%
Tags
-
Rhea-AI Summary
Modular Medical, Inc. (Nasdaq:MODD) announced a collaboration agreement with Glooko, Inc. to integrate Glooko's platform with Modular Medical's insulin pump technology. This collaboration aims to provide clinicians and patients with user-friendly access to insulin dosing data and glucose levels, aligning with Modular Medical's vision of affordable and accessible diabetes care.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.84%
Tags
Rhea-AI Summary
Modular Medical, Inc. (Nasdaq: MODD) is a development-stage insulin delivery technology company aiming to launch a user-friendly and affordable insulin pump technology. CEO Jeb Besser will present at Tribe Public's Webinar Presentation and Q&A Event titled 'Diabetes Care For The Rest Of Us' on December 15, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.75%
Tags
-
News
Rhea-AI Summary
Modular Medical, Inc. (Nasdaq:MODD) announced its participation in the Benchmark Company's 12th Annual Discovery One-on-One Investor Conference. The event, to be held on December 7, 2023, will provide the company's CEO, Jeb Besser, the opportunity to engage with analysts and investors. The conference aims to offer emerging growth and dynamic publicly traded companies access to institutional and individual investors in a unique one-on-one format.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.56%
Tags
-
Rhea-AI Summary
Modular Medical, Inc. provides an update on its ongoing pre-submission testing and timeline for submission of its MODD-1 insulin pump to the FDA. The company has made substantial progress on completing many of the required tests and has received results from some of the longest lead time tests, including insulin stability and potency. Modular Medical expects to make its FDA submission around year end 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
17.59%
Tags
Rhea-AI Summary
Modular Medical announces collaboration with Phillips-Medisize for insulin pump technology
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.84%
Tags
FAQ
What is the current stock price of Modular Medical (MODD)?
The current stock price of Modular Medical (MODD) is $1.39 as of December 20, 2024.
What is the market cap of Modular Medical (MODD)?
The market cap of Modular Medical (MODD) is approximately 56.2M.
What is Modular Medical Inc.'s primary focus?
Modular Medical Inc. focuses on designing, developing, and commercializing an insulin pump using modernized technology to increase pump adoption in the diabetes marketplace.
Who is the founder of Modular Medical Inc.?
Paul DiPerna, a seasoned medical device professional and microfluidics engineer, is the founder of Modular Medical Inc. He previously founded Tandem Diabetes and invented and designed its t:slim insulin pump.
What recent event did Modular Medical Inc. announce?
Modular Medical Inc. announced the commencement of an underwritten public offering of shares of its common stock to fund operations and maintain working capital.
Who is managing the underwritten public offering for Modular Medical Inc.?
Titan Partners Group, a division of American Capital Partners, is acting as the sole book-running manager for the offering.
What is Modular Medical Inc.'s mission?
Modular Medical Inc.'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.
What are the markets targeted by Modular Medical Inc.'s products?
Modular Medical Inc.'s products target both type 1 and rapidly growing type 2 diabetes markets, especially in terms of device adoption.
What are the intended uses of the net proceeds from the public offering?
The net proceeds from the public offering will be utilized for capital expenditures and general corporate purposes by Modular Medical Inc.
What is the geographical location of Modular Medical Inc.?
Modular Medical Inc. is based in Beacon House Orchard Farm Ivinghoe Aston, Buckinghamshire, United Kingdom.
What is the background of Steve Gemmell, the newly appointed Vice President of Engineering at Modular Medical Inc.?
Steve Gemmell has over 20 years of experience in medical device product development and operations, with significant expertise in automated insulin delivery. He has previously held leadership positions with various notable companies in the diabetes space.
What milestone did Modular Medical Inc. achieve recently?
Modular Medical Inc. is set to join the Russell Microcap Index at the conclusion of the 2024 Russell indexes annual reconstitution, effectively increasing its visibility among investment managers and institutional investors.
Modular Medical, Inc.
Nasdaq:MODD
MODD Rankings
MODD Stock Data
56.20M
36.87M
10.05%
44.12%
1.99%
Medical Devices
Surgical & Medical Instruments & Apparatus
United States of America
SAN DIEGO