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DUBLIN - Trinity Biotech plc (NASDAQ:TRIB), a microcap healthcare company with a market value of $15.47 million and annual revenue of $61.55 million, announced Tuesday that clinical trial results for its next-generation continuous glucose monitoring technology, called CGM+, showed positive outcomes that could potentially lower costs compared to current market products.
The biotechnology company reported that its redesigned needle-free glucose sensor delivered accurate readings across a 15-day wear period without requiring finger-stick calibration. The company claims this advancement represents a significant technical milestone in the development of its acquired CGM technology. According to InvestingPro data, Trinity Biotech faces significant financial challenges with rapid cash burn and a high debt-to-capital ratio of 87%.
"The elimination of the requirement for finger-stick calibration was achieved through a combination of sensor design modifications, refined signal processing, and proprietary enhancements to sensor operation," said John Gillard, CEO of Trinity Biotech.
According to the press release, the company’s CGM+ platform features a modular design that reduces disposable components and integrates multiple health metrics including heart activity, body temperature, and physical activity data in one device.
Trinity Biotech stated that the clinical validation marks a critical step toward commercialization of its CGM+ platform, which is in later stages of development. The company emphasized that its approach focuses on scalability, cost-efficiency, and environmental impact.
The global CGM market is projected to grow from approximately $13 billion in 2025 to approximately $28 billion by 2030, according to data cited in the company’s statement. While Trinity Biotech’s stock currently trades below its Fair Value based on InvestingPro analysis, analysts anticipate sales decline in the current year. Get detailed insights and 6 additional ProTips for TRIB with an InvestingPro subscription.
Trinity Biotech develops, manufactures, and markets diagnostic systems for point-of-care and clinical laboratory segments of the diagnostic market. The company entered the wearable biosensor industry after acquiring biosensor assets from Waveform Technologies Inc. Despite generating revenue of $61.55 million in the last twelve months, the company has struggled with profitability, as revealed in the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Trinity Biotech has announced the launch of a new preeclampsia testing service, set for rollout in the third quarter of 2025. This service will be available through its New York-based reference laboratory and involves the FDA-cleared PreClara Ratio (sFlt-1/PlGF) biomarker test. The company is collaborating with Thermo Fisher Scientific to provide this test, which aims to help healthcare providers assess the likelihood of progression to severe preeclampsia in hospitalized pregnant women. Additionally, Trinity Biotech has received approval from the World Health Organization for the offshored and outsourced manufacturing of its TrinScreen HIV rapid test. This regulatory approval allows the company to transition production from in-house operations to an outsourced model while ensuring product integrity and compliance. These developments reflect Trinity Biotech’s ongoing efforts to expand its testing services and manufacturing capabilities.
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