Modular Med Inc Stock Price, News & Analysis

Modular Medical (NASDAQ:MODD) has appointed Jeff Goldberg to its Board of Directors. Goldberg brings extensive experience in healthcare, life sciences, and medical device leadership, particularly in generic insulin development. He currently serves as Chairman of Lannett Company and has a notable background working with MiniMed founder Alfred E. Mann. As President and CEO at IncuMed, Mann's incubator, Goldberg oversaw drug-device combination products, including an insulin patch-pump program.

Goldberg's appointment aligns with Modular Medical's focus on developing user-friendly and affordable insulin delivery technology, as the company has already received FDA clearance for its patch pump designed for "almost-pumpers". His experience in regulatory strategy, operations turnaround, and successful exits positions him well to contribute to Modular Medical's mission of simplifying diabetes care worldwide.

Modular Medical (NASDAQ:MODD) has announced an upcoming webinar presentation featuring CEO Jeb Besser, scheduled for May 28, 2025, at 9 a.m. Pacific / 12 p.m. Eastern. The presentation, titled "Making Diabetes Management Simpler: The New Era of Insulin Therapy," will focus on the company's FDA-cleared patch pump technology designed for "almost-pumpers." The company addresses a significant market opportunity, with 1.9 million Type 1 Diabetes patients in the US, where currently only one-third use insulin pumps despite 100% requiring daily insulin injections. The event will be hosted by Tribe Public's Managing Member John F. Heerdink, Jr., and will include a Q&A session.

Modular Medical (NASDAQ:MODD), a company specializing in insulin delivery technology, has announced its participation in the upcoming Lytham Partners Spring 2025 Investor Conference on May 29, 2025. The virtual event will feature a webcast presentation at 11:00 a.m. ET, which will be accessible through the conference website and available for replay afterward.

CEO Jeb Besser will conduct one-on-one meetings with investors throughout the conference. The company, known for developing the first FDA-cleared patch pump specifically designed for adult "almost-pumpers" with user-friendly and affordable features, invites interested parties to arrange meetings through Lytham Partners.

Modular Medical (Nasdaq:MODD) has secured $12 million through a private placement of units, priced at $1.92 per unit. Each unit comprises two common stock shares and one warrant to purchase common stock at $1.12 per share, exercisable for four years. The company will issue 12,495,312 shares and warrants for 6,247,656 shares.

The funding will support supply-chain optimization and margin improvement for their MODD1 product ahead of broad commercial launch. Additionally, the company plans to submit a tubeless version of MODD1 to the FDA in Q3 2025 and pursue CE mark certification for overseas markets.

A concurrent direct placement offering of up to 446,429 additional units aims to raise up to $500,000 under the same terms. Company officers and directors will participate, purchasing 374,478 units at the same price as other investors. Newbridge Securities served as the sole placement agent.

Modular Medical (NASDAQ:MODD) has engaged BSI Group as its notified body to pursue CE Mark clearance for its MODD1 insulin pump in the European market. The company, which has already secured FDA clearance for its patch pump, is targeting Q1 2026 for European regulatory approval.

Unlike the U.S. process, EU clearance requires a third-party notified body to conduct audit steps and certify compliance with CE mark standards. Once obtained, the CE mark allows the device to be marketed and sold in Europe and other regions that recognize this certification.

The MODD1 aims to address European market challenges including high pump costs, environmental impact, and usage complexity. The company positions its device as a solution offering simplicity, cost-effectiveness, lower carbon footprint, reusable electronics, and an attractive form factor to encourage adoption among multiple daily injectors.

Modular Medical (NASDAQ:MODD) has announced a licensing and partnership agreement with Nudge BG to develop an adaptive full closed loop Automated Insulin Delivery (AID) system that doesn't require mealtime announcements. The collaboration aims to create a system that automatically manages mealtime insulin delivery, eliminating the need for manual bolusing while maintaining glycemic goals.

The partnership combines Modular Medical's FDA-cleared MODD1 insulin pump with Nudge BG's AID technology, targeting the approximately 80% of potential adopters who find current systems too complex, cumbersome, and costly. The system will make small insulin delivery adjustments based on continuous glucose monitor inputs, making diabetes management less burdensome for users.

Modular Medical (Nasdaq: MODD), a company specializing in FDA-cleared patch pump technology for insulin delivery, has announced a conference call and webcast scheduled for December 5, 2024, at 10:00 a.m. Eastern Time. The company will provide a business update during this call.

Participants can join via phone using 1-888-506-0062 (US) or +1-973-528-0011 (International) with passcode 494842. A webcast replay will be available on the company's website, and a conference call replay will be accessible until December 19, 2024, using 1-877-481-4010 (US) or 1-919-882-2331 (International) with passcode 51725.

Modular Medical (Nasdaq:MODD) has priced an underwritten public offering of 5,450,573 shares of common stock at $1.50 per share, expected to raise approximately $8.2 million in gross proceeds. The offering was led by existing institutional investors, including Manchester Explorer, L.P., the company's largest shareholder. Titan Partners Group is acting as sole bookrunner. The proceeds will fund operations, working capital, and general corporate purposes, including capital expenditures. The offering is expected to close around November 25, 2024.

Modular Medical (NASDAQ:MODD), a company specializing in FDA-cleared patch pump technology for insulin delivery, has announced the launch of an underwritten public offering of common stock and pre-funded warrants. The company has granted the underwriter a 30-day option to purchase up to an additional 15% of the aggregate shares or warrants. Titan Partners Group, a division of American Capital Partners, will serve as the sole bookrunner. The offering is being conducted under an effective S-3 shelf registration statement previously filed with the SEC.