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, Inc. (NASDAQ:MODD) announced the appointment of Kevin Schmid as Chief Operating Officer, bringing over 40 years of experience in medical devices and drug delivery. Previously, Schmid served at Insulet Corporation, helping develop innovative drug delivery systems like the Omnipod. His expertise in high-volume manufacturing and operational leadership is expected to aid Modular Medical's transition to commercialization of its insulin delivery technology, aimed at improving affordability and access for diabetes management.
Modular Medical Inc. (NASDAQ:MODD) is set to present at the LD Micro Invitational XII Investor Conference on June 8, 2022, at 3:30 PM PT in Westlake Village, California. CEO Jeb Besser will hold one-on-one meetings with institutional investors and analysts throughout the event. Modular Medical aims to revolutionize insulin delivery with affordable, user-friendly insulin pump technology, improving access to glycemic control for individuals with diabetes. The company was founded by Paul DiPerna, known for his role in developing Tandem Diabetes' t:slim insulin pump.
Modular Medical, Inc. (NASDAQ:MODD) will present at the Spring Into Action - Best Ideas Virtual Investor Conference on May 18, 2022, at 1:00 p.m. ET. CEO Jeb Besser will discuss the company’s innovative insulin delivery technology aimed at making insulin pumps more affordable and user-friendly. The event will include one-on-one meetings with investors, and interested parties can view the presentation live or as a replay. Modular Medical aims to revolutionize diabetes management with its patented technologies, enhancing access to effective glycemic control.
Modular Medical (NASDAQ:MODD) announced a registered direct offering of 449,438 shares at $4.45 each, and pre-funded warrants to purchase 1,348,314 additional shares at $4.44 each. A concurrent private placement will issue warrants for 1,438,202 shares at an exercise price of $6.60, with expected gross proceeds of $8 million. The Company plans to utilize the funds for operations, product development, and general corporate purposes. Closing is expected around May 5, 2022, pending customary conditions.
Modular Medical Inc. (NASDAQ: MODD) announced its presentation at Oppenheimer's 32nd Annual Healthcare Conference on March 15, 2022. CEO Jeb Besser will represent the company in a virtual session starting at 8:40 am Eastern Time. A webcast of the presentation will be accessible at modular-medical.com/events and archived for 30 days. Modular Medical aims to launch innovative insulin pump technology, improving ease of use and affordability for diabetes management.
Modular Medical has appointed James "Jeb" Besser as its new CEO, effective immediately. Besser, with 25 years of experience in life sciences and technology, previously served as managing member of Manchester Management LLC, the company’s largest shareholder. Lynn Vos, the outgoing CEO since August 2021, remains on the board and will assist in marketing strategies. The company also reaffirmed its timeline for the 510(k) submission of its next-generation MODD1 insulin pump to the FDA, expected in Q2 2022, aiming to improve access to insulin delivery technology.
Modular Medical, Inc. (NASDAQ:MODD) has priced its underwritten public offering of 2,500,000 units at $6.00 each, with expected gross proceeds of $15 million. Each unit comprises one share and one warrant. The proceeds will fund corporate purposes, sales infrastructure, R&D, production capabilities, and repayment of a promissory note. The company’s common stock is now approved for listing on the Nasdaq Capital Market starting February 10, 2022. The offering is set to close on February 14, 2022.
Modular Medical, Inc. (OTCQB:MODD) has expanded its Board of Directors by appointing Steven G. Felsher and Philip B. Sheibley as independent directors. CEO Lynn O'Connor Vos highlighted their extensive experience, which will be invaluable as the company aims to enhance insulin pump technology for better diabetes care, particularly for underserved communities. Felsher brings over 30 years of financial and management expertise, while Sheibley focuses on life sciences consulting, further strengthening the company's leadership as it prepares for product commercialization.
Modular Medical, Inc. (OTCQB:MODD) announced a 1-for-3 reverse stock split effective November 29, 2021, aimed at meeting the Nasdaq Capital Market listing requirements, specifically a minimum stock price of $4.00. The company’s common stock will initially trade as MODDD before reverting to MODD after 20 business days. The reverse split consolidates shares, ensuring no fractional shares are issued. Modular Medical is committed to providing innovative insulin delivery solutions for diabetes management. There are no assurances on meeting all Nasdaq requirements or securing uplisting approval.
Modular Medical has appointed Lynn O'Connor Vos as the new CEO, effective immediately, while founder Paul DiPerna transitions to Chairman and Chief Technology Officer. O'Connor Vos aims to enhance the company's insulin delivery system, targeting accessibility for the 3.5 million Americans needing intensive insulin therapy. With a background in healthcare leadership, she plans to pursue public-private partnerships and refine patient experiences. The company emphasizes affordable insulin pump technology for broader adoption, particularly in underserved communities.
FAQ
What is the current stock price of Modular Medical (MODD)?
What is the market cap of Modular Medical (MODD)?
What is Modular Medical Inc.'s primary focus?
Who is the founder of Modular Medical Inc.?
What recent event did Modular Medical Inc. announce?
Who is managing the underwritten public offering for Modular Medical Inc.?
What is Modular Medical Inc.'s mission?
What are the markets targeted by Modular Medical Inc.'s products?
What are the intended uses of the net proceeds from the public offering?
What is the geographical location of Modular Medical Inc.?
What is the background of Steve Gemmell, the newly appointed Vice President of Engineering at Modular Medical Inc.?
What milestone did Modular Medical Inc. achieve recently?
