Modular Medical Announces Contract with National U.S. Pharmacy Benefit Manager, Expanding Access to Pivot Tubeless Patch Pump

Modular Medical (MODD) announced a contract with a national U.S. pharmacy benefit manager (PBM), making its Pivot™ tubeless patch pump insulin delivery system available through that PBM.

Rhea-AI Summary

Modular Medical (MODD) announced a contract with a national U.S. pharmacy benefit manager (PBM), making its Pivot™ tubeless patch pump insulin delivery system available through that PBM.

The company views this agreement, which it says is with one of the largest PBMs in the country, as a key commercialization milestone that can broaden patient access and support validation of Pivot as an accessible diabetes therapy option. PBMs manage prescription drug benefits and formulary placement for health plans and employers, helping reduce barriers to access and streamline reimbursement. Pivot is a wearable, three-day tubeless patch pump designed to transition patients from multiple daily injections to continuous insulin infusion.

Positive

• Contract with national U.S. PBM makes Pivot insulin delivery system available through that pharmacy benefit manager
• Commercialization milestone expected by the company to broaden patient access and support adoption of the Pivot tubeless patch pump

Negative

• None.

Market reaction after national PBM partnership: MODD +9.13%

+9.13% $3.73 47.6x vol

15m delay

+9.13% Vs previous close

$3.73 Last Price

$3.47 $3.90 Day Range

$30.42M Market Cap

47.6x Rel. Volume

Following this news, MODD has gained 9.13%, reflecting a notable positive market reaction. Our momentum scanner has triggered 12 alerts so far, indicating notable trading interest and price volatility. The stock is currently trading at $3.73. Trading volume is exceptionally heavy at 47.6x the average, suggesting very strong buying interest.

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Market Context

The stock is up +5.8% following this news. 2.7% was MODD's reaction to the July 23 Pivot Innovation ...

Analysis

The stock is up +5.8% following this news. 2.7% was MODD's reaction to the July 23 Pivot Innovation Council announcement. The active S-3 is a resale registration, while prior commercialization news often diverged from positive headlines; access execution remains the key risk.

Key Figures

Wear Period: three days

1 metrics

Wear Period three days Pivot tubeless patch pump

Historical Context

5 past events · Latest: Sep 03 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Sep 03	FDA clearance	Positive	-1.2%	FDA cleared software enhancements for the Pivot insulin patch pump system.
Sep 02	Webinar registration	Neutral	-2.7%	CEO presentation and Q&A webinar registration opened ahead of the launch.
Aug 05	Conference participation	Neutral	-6.9%	Management planned Pivot demonstrations at the diabetes care conference.
Aug 03	Commercial launch plan	Positive	-7.1%	The company announced an October launch across five U.S. markets.
Jul 23	Council formation	Positive	+2.7%	Modular Medical formed the Pivot Innovation Council and appointed its chairman.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

MODD's recent news record showed negative reactions to four of five events, including positive commercialization updates, while one positive council announcement aligned with a gain.

Key Terms

pharmacy benefit manager, continuous subcutaneous insulin infusion, formulary placement, basal and bolus insulin delivery

4 terms

pharmacy benefit manager regulatory

"secured a contract with a national U.S. pharmacy benefit manager (PBM)"

A pharmacy benefit manager (PBM) is a company that manages prescription drug plans for health insurance providers, employers, and other organizations. They negotiate prices with drugmakers, decide which medicines are covered, and handle the distribution of prescriptions. For investors, PBMs are important because they influence healthcare costs and profit margins in the pharmacy industry.

continuous subcutaneous insulin infusion medical

"designed to provide continuous subcutaneous insulin infusion"

A therapy that uses a small wearable pump to deliver insulin under the skin through a thin tube, providing a steady baseline dose plus extra doses around meals to control blood sugar. Think of it like an automated drip and on-demand button combined, replacing multiple daily injections. It matters to investors because pump sales, consumable supplies, software updates, regulatory approvals and reimbursement policies drive revenue, adoption rates and competitive dynamics in the diabetes care market.

formulary placement regulatory

"negotiate reimbursement arrangements, and facilitate formulary placement"

Formulary placement is how a health insurer or pharmacy chooses and ranks a drug on its approved list of medicines, determining how easily patients can get it, how much they pay, and whether special approvals are needed. For investors, placement acts like a store shelf position: a favorable spot or lower patient cost usually boosts sales and revenue potential, while a restricted or high-cost tier can sharply limit a drug’s commercial uptake.

basal and bolus insulin delivery medical

"with both basal and bolus insulin delivery over a three-day wear period"

Basal and bolus insulin delivery describes two complementary ways insulin is given to people with diabetes: basal delivery provides a steady, background dose to control blood sugar between meals and overnight, like a drip that keeps a faucet trickle running; bolus delivery are larger, timed doses taken around meals to handle carbohydrate spikes, like turning the faucet on briefly. Investors care because products, devices, and drugs that target one or both delivery types address different customer needs, regulatory paths, and recurring-revenue models in the diabetes market.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SAN DIEGO, CA / ACCESS Newswire / September 4, 2026 / Modular Medical, Inc. ("Modular Medical" or "the Company") (NASDAQ:MODD), a commercial-stage medical device company preparing for the commercial launch of its next-generation Pivot™ tubeless patch pump, today announced that it has secured a contract with a national U.S. pharmacy benefit manager (PBM) in the United States. Pursuant to the contract, the Company's Pivot insulin delivery system is now available through the national PBM. The Company believes the engagement with this national PBM represents a significant step forward in broadening patient access to the Company's Pivot tubeless patch pump and will further validate the Pivot pump as an accessible therapeutic option for people living with diabetes.

"We believe this agreement with a national PBM, one of the largest in the country, represents an important commercialization milestone for our Pivot patch pump," said Jeb Besser, Chief Executive Officer of Modular Medical. "PBMs play a critical role in enabling patient access to therapies and medical technologies. We believe this relationship positions us to reach more patients who could benefit from a simpler, more approachable insulin-delivery solution."

Expanding Patient Access Through PBM Partnerships

Pharmacy benefit managers serve a central role in the U.S. healthcare ecosystem by working with health plans, employers, pharmacies, and manufacturers to manage prescription drug benefits and improve access to care. PBMs help evaluate clinical value, negotiate reimbursement arrangements, and facilitate formulary placement, enabling patients to access therapies through their existing healthcare benefits.

For innovative diabetes technologies, PBM partnerships can be an important driver of adoption by helping reduce barriers to access, increasing provider awareness, and streamlining reimbursement pathways. As healthcare stakeholders continue to focus on improving outcomes while managing costs, solutions that offer ease of use, patient satisfaction, and effective diabetes management are increasingly attracting attention.

About the Pivot Tubeless Patch Pump

The Pivot™ tubeless patch pump is a simple, wearable insulin delivery platform designed to provide continuous subcutaneous insulin infusion with both basal and bolus insulin delivery over a three-day wear period. The system is intended to offer a practical and accessible pathway from multiple daily injections to insulin pump therapy for a broader population of people living with diabetes. For more information, visit www.pivotpump.com.

About Modular Medical

Modular Medical, Inc. (NASDAQ:MODD) is a commercial-stage medical device company focused on the development of innovative insulin delivery technologies designed to simplify diabetes management and increase access to insulin pump therapy. The Company's Pivot™ tubeless patch pump has been developed to provide a user-friendly, flexible, and accessible approach to insulin delivery for people requiring intensive insulin therapy.

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 anticipated benefits of the contract with the national PBM, including providing broader access to the Company's Pivot pump product to individuals with diabetes, the 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, and 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.

Pivot is a trademark of Modular Medical. All other trademarks mentioned herein are the property of their respective owners.

Company Contact:
Jeb Besser
Chief Executive Officer
Modular Medical, Inc.
IR@modular-medical.com

Investor Relations Contact:
Valter Pinto, Managing Director
KCSA Strategic Communications
ModularMedical@KCSA.com

SOURCE: Modular Medical, Inc.

View the original press release on ACCESS Newswire

FAQ

What PBM agreement did Modular Medical (MODD) announce for the Pivot tubeless patch pump?

Modular Medical announced it has secured a contract with a national U.S. pharmacy benefit manager, which makes its Pivot™ tubeless patch pump insulin delivery system available through that PBM. The company describes the PBM as one of the largest in the country.

How does the new PBM contract affect access to Modular Medical's Pivot pump (MODD)?

The contract allows the Pivot™ insulin delivery system to be accessed through a national PBM’s network. The company believes this will broaden patient access, reduce barriers related to reimbursement, and help position Pivot as an accessible therapeutic option for people with diabetes.

Why does Modular Medical consider the PBM agreement important for Pivot (MODD)?

The company describes the contract as an important commercialization milestone. PBMs influence formulary placement and reimbursement, so this relationship is expected by the company to help reach more patients and support adoption of its simpler, wearable insulin-delivery solution.

What is the Pivot tubeless patch pump offered by Modular Medical (MODD)?

The Pivot™ tubeless patch pump is a simple, wearable insulin delivery platform that provides continuous subcutaneous insulin infusion with basal and bolus delivery over a three-day wear period. It is intended to offer a practical pathway from multiple daily injections to insulin pump therapy.

What role do PBMs play in the rollout of Modular Medical’s diabetes technology (MODD)?

PBMs work with health plans, employers, pharmacies, and manufacturers to manage prescription drug benefits. They evaluate clinical value, negotiate reimbursement, and influence formulary placement, which can reduce access barriers, increase provider awareness, and streamline reimbursement for technologies like the Pivot patch pump.