Street Calls of the Week
SAN DIEGO - Modular Medical, Inc. (NASDAQ:MODD), a medical device company with a market capitalization of $38.22 million and currently trading at $0.70 per share, announced Thursday it has completed a clinical study of its MODD1 insulin pump with nine Type 1 diabetes clinicians who currently use continuous glucose monitors and other pumps.
The study was designed to gather real-world experience and feedback to refine the company’s next-generation Pivot pump product ahead of its planned launch. Participants provided input on the pump’s ease of use, particularly regarding its ability to convert patients from multiple daily injections to pump therapy. According to InvestingPro analysis, while the company maintains strong liquidity with a current ratio of 4.04, it faces challenges with rapid cash burn - just one of several key insights available to Pro subscribers.
"We want to thank the clinicians who participated in this trial deployment for their time and feedback on our MODD1 pump," said Jeb Besser, CEO of Modular Medical, according to the press release.
The company plans to submit its Pivot pump product to the U.S. Food and Drug Administration for clearance in October 2025. The company’s financial position shows more cash than debt on its balance sheet, though its stock has experienced significant volatility with a beta of -4.99 and a year-to-date decline of 49.53%.
Modular Medical received FDA clearance for its MODD1 patch pump, which the company states is designed for the adult "almost-pumpers" market. The company describes this as an estimated $3 billion market segment that could benefit from the pump’s user-friendly design and affordability. Get deeper insights into Modular Medical’s market potential and financial health with InvestingPro, which offers exclusive analysis and additional ProTips for informed investment decisions.
Founded by Paul DiPerna, who previously founded Tandem Diabetes and designed its t:slim insulin pump, Modular Medical aims to make insulin delivery technology more accessible and easier to use.
The information in this article is based on a company press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.