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 |
| 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: | $50.64M 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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