Street Calls of the Week
SAN DIEGO - Modular Medical, Inc. (NASDAQ:MODD), currently trading at $0.68 and down over 70% in the past year, has appointed David Bosshard as Head of International Operations to accelerate the company’s global expansion strategy, according to a press release issued Monday. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 4.04x, suggesting solid short-term financial stability.
Bosshard brings two decades of experience in scaling tubeless insulin delivery systems across Europe and other international markets. His background includes leading the European launch of Insulet’s Omnipod patch pump at Ypsomed AG from 2010 to 2017, where he grew the user base to nearly 70,000 while overseeing operations across 13 countries. The appointment comes at a crucial time as InvestingPro analysis shows the company is rapidly burning through cash while maintaining more cash than debt on its balance sheet.
The appointment comes as Modular Medical advances its next-generation Pivot insulin delivery system through regulatory processes in the U.S. and for CE Mark approval. The company is targeting what it describes as the $3 billion "almost-pumpers" diabetes market with its patch pump technology.
"David’s addition to our team is a game-changer for Modular Medical’s international ambitions," said Jeb Besser, CEO of Modular Medical in the statement.
Bosshard also previously led the 2017 launch of YpsoPump, which has since been distributed in over 20 countries across Europe, Australia and Canada.
The company’s strategy focuses on developing affordable, user-friendly insulin delivery systems for diabetes patients who avoid traditional pumps due to complexity and cost.
The Pivot insulin delivery system referenced in the announcement is not currently cleared for sale by the FDA, the company noted in its statement.
In other recent news, Modular Medical, Inc. has raised approximately $4.4 million through the exercise of certain existing warrants at a reduced price of $0.68 per share. This transaction involved 6,504,731 warrants originally issued in May 2023 and March 2025, and in return, the company will issue new unregistered warrants to purchase up to 3,252,366 shares of common stock at $0.84 per share. Additionally, Modular Medical has received Institutional Review Board approval to conduct a feasibility study of its next-generation Pivot insulin delivery system. This study will simulate real-world conditions by delivering sterile saline to adult participants for up to 90 days, aiming to refine the device’s usability and performance. Furthermore, the company has completed a clinical study of its MODD1 insulin pump, gathering feedback from nine Type 1 diabetes clinicians. The insights gained from this study are intended to help refine the Pivot pump ahead of its planned launch. These developments are part of Modular Medical’s ongoing efforts to enhance its insulin delivery systems.
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