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Modular Medical Priced, Nasdaq: MODD

Developing a wearable insulin pump device.

Industry: Health Care

Latest Trade: $1.48 0.00 (0.0%)

First Day Return: -38.2%

Return from IPO: -75.3%

Industry: Health Care

Modular Medical is a development stage medical device company focused on the design, development, and commercialization of an innovative insulin pump using modernized technology to increase pump adoption in the diabetes marketplace. Through the creation of a novel two-part patch pump, our MODD1 product, or MODD1, the Company seeks to fundamentally alter the trade-offs between cost and complexity and access to the higher standards of care that presently available insulin pumps provide. By simplifying and streamlining the user experience from introduction, prescription, reimbursement, training and day-to-day use, we seek to expand the wearable insulin delivery device market beyond the highly motivated “super users” and expand the category into the mass market. The product seeks to serve both the type 1 and the rapidly growing, especially in terms of device adoption, type 2 diabetes markets. We believe that there are a number of shortcomings and issues with currently available insulin pumps that prevent a substantial number of people who require insulin on a daily basis from choosing an insulin pump to treat their diabetes. We believe that by tailoring our insulin pump to address such factors, we can expand the scope and adoption rate of insulin pump usage.
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IPO Data
IPO File Date 11/02/2021
Offer Price $6.00
Price Range $6.00 - $6.00
Offer Shares (mm) 2.5
Deal Size ($mm) $15
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 02/09/2022
Offer Price $6.00
Price Range $6.00 - $6.00
Offer Shares (mm) 2.5
Deal Size ($mm) $15
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
Oppenheimer & Co.
The Benchmark Company
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Company Data
Headquarters San Diego, CA, United States
Founded 1998
Employees 17
Website www.modular-medical.com

Modular Medical (MODD) Performance