Modular Medical Announces Completion of Clinical Study of MODD1 Pump
Rhea-AI Summary
Modular Medical (NASDAQ:MODD) has successfully completed a clinical study of its MODD1 insulin pump. The study involved nine clinicians with Type 1 diabetes who currently use CGM and other pumps, providing real-world experience and feedback for the company's next-generation Pivot pump development.
The MODD1 pump, which is the first FDA-cleared patch pump specifically designed for the $3 billion adult "almost-pumpers" market, focuses on user-friendliness and affordability. The company plans to submit its Pivot pump to the FDA for clearance in October 2025.
Positive
- First FDA-cleared patch pump targeting the $3 billion adult 'almost-pumpers' market
- Successful completion of clinical study with nine clinicians providing real-world feedback
- Clear timeline for FDA submission of next-generation Pivot pump in October 2025
Negative
- Limited study size with only nine participants
- Additional refinements needed before Pivot launch based on study feedback
News Market Reaction
On the day this news was published, MODD gained 7.11%, reflecting a notable positive market reaction. Argus tracked a peak move of +35.1% during that session. Our momentum scanner triggered 20 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $4M to the company's valuation, bringing the market cap to $55M at that time. Trading volume was exceptionally heavy at 43.4x the daily average, suggesting very strong buying interest.
Data tracked by StockTitan Argus on the day of publication.
- Use of MODD1 on clinicians with Type 1 diabetes
SAN DIEGO, CA / ACCESS Newswire / September 11, 2025 / Modular Medical, Inc. (Nasdaq:MODD) ("Modular Medical" or the "Company"), an insulin delivery technology company with the first FDA-cleared patch pump designed specifically to target the estimated
"We want to thank the clinicians who participated in this trial deployment for their time and feedback on our MODD1 pump, and we look forward to demonstrating improvements in usability when we repeat this trial with the Pivot," said Jeb Besser, CEO of Modular Medical.
The Company expects to submit its Pivot pump product to the U.S. Food and Drug Administration ("FDA") for clearance in October 2025.
Forward-Looking Statements
This press release contains forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statements contained in this press release. including but not limited to, the timing of the Company's submission of its Pivot product to the FDA; the performance of the Company's products; expected deployments of the Company's pump product to persons with diabetes, the Company's ability to convert patients to use its MODD1 pump; and the occurrence of future events or circumstances, successful development of Modular Medical's proprietary technologies, whether the market will accept Modular Medical's products and services, anticipated consumer demand for the Company's products, whether Modular Medical can successfully manufacture its products at high volumes, general economic, and industry or political conditions in the United States or internationally, as well as other risk factors and business considerations described in Modular Medical's SEC filings, including its annual report on Form 10-K. Any forward-looking statements in this press release should be evaluated in light of these important risk factors. In addition, any forward-looking statements included in this press release represent Modular Medical's views only as of the date of its publication and should not be relied upon as representing its views as of any subsequent date. Modular Medical assumes no obligation to update these forward-looking statements, except as required by law.
About Modular Medical
Modular Medical, Inc. (Nasdaq: MODD) is a development-stage medical device company that intends to launch the next generation of insulin delivery technology. Using its patented technologies, the company seeks to eliminate the tradeoff between complexity and efficacy, thereby making top quality insulin delivery both affordable and simple to learn. Our mission is to improve access to the highest standard of glycemic control for people with diabetes taking it beyond "superusers" and providing "diabetes care for the rest of us."
Modular Medical was founded by Paul DiPerna, a seasoned medical device professional and microfluidics engineer. Prior to founding Modular Medical, Mr. DiPerna was the founder (in 2005) of Tandem Diabetes and invented and designed its t:slim insulin pump. More information is available at https://modular-medical.com.
All trademarks mentioned herein are the property of their respective owners.
CONTACT:
Jeb Besser
Chief Executive Officer
Modular Medical, Inc.
+1 (617) 399-1741
IR@modular-medical.com
SOURCE: Modular Medical, Inc.
View the original press release on ACCESS Newswire
FAQ
What were the results of Modular Medical's (MODD) MODD1 pump clinical study?
When will Modular Medical submit the Pivot pump to the FDA?
What is the target market size for Modular Medical's MODD1 pump?
How does the MODD1 pump differ from other insulin pumps?
What is the purpose of Modular Medical's MODD1 clinical study?
