Modular Medical Inc (OQ:MODD)

Business Focus: Medical Equipment, Supplies & Distribution

Sector:  Healthcare Industry:  Medical Equipment, Supplies & Distribution
 
See Regulatory Filings on SEC
Company Contact
Address: 16772 WEST BERNARDO DRIVE
SAN DIEGO CA 92127
Tel: N/A
Website: https://www.modular-medical.com
IR: See website
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Key People
Paul Diperna
Chairman of the Board, President, Chief Financial Officer, Treasurer
James E. Besser
Chief Executive Officer
Kevin Schmid
Chief Operating Officer
Business Overview
Modular Medical, Inc. is a development stage, medical device company. The Company is focused on the design, development, and commercialization of an insulin pump using modernized technology to increase pump adoption in the diabetes marketplace. The Company, through the creation of two-part patch pump, MODD1, seeks to serve both the type 1 and type 2 diabetes markets. The Company, using its methods of insulin measurement, is able to eschew complex mechanisms and instead build a product candidate using only parts from high volume consumer electronics manufacturing lines. It provides an insulin pump, which has both basal (steady flow) and bolus (mealtime dosing) insulin disbursement. It also consists of a natural migration path to multi-chamber/multi-liquid pumps, potentially offering an array of new therapies to patients with diabetes and other conditions.
Financial Overview
For the nine months ended 31 December 2023, Modular Medical Inc revenues was not reported. Net loss increased 28% to $13.2M. Higher net loss reflects Research and development - B increase of 35% to $7.8M (expense), General and admini increase of 40% to $3.4M (expense), Stock-based Compensation in R&D increase of 37% to $1.4M (expense). Basic Earnings per Share excluding Extraordinary Items increased from -$0.95 to -$0.64.
Employees: 37 as of Mar 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $45.99M as of Dec 31, 2023
Annual revenue (TTM): $0.00M as of Dec 31, 2023
EBITDA (TTM): -$16.44M as of Dec 31, 2023
Net annual income (TTM): -$16.76M as of Dec 31, 2023
Free cash flow (TTM): -$15.56M as of Dec 31, 2023
Net Debt Last Fiscal Year: N/A
Shares outstanding: 30,989,968 as of Feb 21, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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