Modular Medical, Inc. - MODD STOCK NEWS

Modular Medical, Inc. has announced the pricing of an underwritten public offering of its common stock and warrants. The units are being sold at a combined price of $2.13 per unit, with each unit comprising two shares of common stock and one warrant to purchase one share of common stock. The net proceeds from the offering are expected to be approximately $8.3 million. The offering is expected to close on May 18, 2023.

Modular Medical, Inc. (NASDAQ:MODD) has updated its progress on the MODD-1 insulin pump, transitioning to a full commercial version designed with a tier-1 medical product manufacturer. This new version aims to resolve prior material compatibility issues, enhance cost-effectiveness, and streamline usability. The company anticipates submitting the device for FDA approval in the quarter ending December 31, 2023, following the arrival of key production equipment and subsequent testing. The initiative seeks to make insulin delivery technology more accessible and user-friendly for diabetes patients.

Modular Medical (NASDAQ:MODD) has updated on the development of its insulin pump product, MODD1. The company is making progress on the testing needed for its 510(k) submission to the FDA. However, they encountered compatibility issues with certain materials used in the device, delaying the submission timeline. Replacement materials have been identified and are in the qualification process. Modular Medical now anticipates submitting to the FDA by June 30, 2023, pending resolution of these issues.

Modular Medical, Inc. (NASDAQ:MODD) announced plans for Chief Executive Officer Jeb Besser to present at upcoming investor conferences. Besser will speak at the Piper Sandler 34th Annual Healthcare Conference on November 30, 2022, at 10:50 a.m. ET, and will also conduct one-on-one meetings. The following day, he will host one-on-one meetings at the Benchmark Company's 11th Annual Discovery Investor Conference. Modular Medical aims to revolutionize insulin delivery technology, making it simpler and more affordable for diabetes patients.

Modular Medical Inc. (NASDAQ:MODD) has updated investors on its insulin pump product, the MODD1. The company is nearing completion of its 510(k) submission to the FDA but has encountered a materials compatibility issue that has delayed the submission timeline, now expected between December 2022 and June 2023. Meanwhile, progress in establishing production capabilities is ahead of schedule and cost estimates are favorable. The CEO will attend investor conferences in late November 2022, with further updates on product development anticipated.

Modular Medical Inc. (NASDAQ:MODD) has announced CEO Jeb Besser's participation in two upcoming investor conferences. The H.C. Wainwright 24th Annual Global Investment Conference will be held from September 12-14, 2022, in New York, with Mr. Besser's presentation available on September 12 at 7:00 a.m. ET. Additionally, he will engage in one-on-one meetings at the Lake Street Capital Markets 6th Annual Best Ideas Growth Conference on September 14. Modular Medical aims to innovate affordable insulin pump technology, making diabetes care accessible to a broader audience.

Modular Medical (NASDAQ:MODD) announced the appointment of Dr. Anne Peters to its Advisory Board, enhancing its focus on improving diabetes care in under-resourced communities. Dr. Peters, a leading diabetes clinician, will collaborate with Modular Medical's leadership as they finalize their FDA 510k submission. With over 200 publications and extensive research experience, Dr. Peters aims to leverage her expertise to enhance access to insulin delivery technology. The company is committed to achieving affordable and effective glycemic control for all diabetes patients.