Tandem Diabetes Care Archives - Page 6 of 6

Tandem Diabetes posts $27m Q2 loss, reinstates earlier guidance

Tandem Diabetes Care (NSDQ:TNDM) posted Street-beating second-quarter sales and missed badly on earnings, but reinstated its earlier full-year 2020 guidance.

The San Diego-based company — maker of insulin pumps and other diabetes management devices — reported a loss of -$27.1 million or -0.45¢ per share, on sales of $109.2 million for the three months ended June 30, 2020, for a bottom-line loss of -17% compared with Q2 2019.

Tandem pegged the losses largely to interest expenses and charges reflecting changes in fair value for certain outstanding warrants.

Earnings per share were 21¢ behind The Street, where analysts were looking for sales of $87.15 million.

Domestic insulin pump shipments increased 15% to 14,735 in the second quarter of 2020, up from 12,799 pumps Q2 2019. Domestic sales were $89.3 million, or 27% higher than the $70.4 million in the second quarter of 2019. International pump shipments fell by 53% percent to 3,952 in the second qua…

Medtronic, Tandem Diabetes Care bury the hatchet on potential IP disputes

Two major insulin pump makers — Medtronic (NYSE:MDT) and Tandem Diabetes Care (NSDQ:TNDM) — announced today that they’ve inked a non-exclusive patent cross-license agreement related to diabetes treatment tech.

The companies said the agreement will allow them to focus on innovation while avoiding the distraction of potential legal disagreements.

The deal could be but another example of how medical device companies are trying to avoid unnecessary costs — including potentially money-draining litigation and IP cases — amid the COVID-19 pandemic and resulting recession.

Get the full story on our sister site Drug Delivery Business News.

Abbott, Tandem seal deal to combine CGM, insulin delivery tech

Abbott (NYSE:ABT) and Tandem Diabetes Care (NSDQ:TNDM) announced today that they have completed their agreement to combine the former’s glucose-sensing technology with the latter’s insulin delivery systems.

The deal, announced in October, will combine Abbott’s Freestyle Libre CGM with Tandem’s t:slim X2 pump to monitor glucose without fingersticks. The agreement covers the technical development of device integration and associated commercial support activities.

“We’re excited to integrate our insulin delivery systems with Abbott’s glucose-sensing technology, and we look forward to expanding options for our customers so that they can combine devices that best suit their personal needs,” said Tandem president & CEO John Sheridan in a news release. “We are proud to have an insulin pump capable of remote software updates that can make access to future integrations possible for in-warranty t:slim X2 users at the time of …

Tandem Diabetes Care acquires Sugarmate mobile app

Nearly 30,000 diabetes who rely on insulin use the Sugarmate app. [Image courtesy of Sugarmate]

Tandem Diabetes Care (NSDQ:TNDM) said today that it has purchased Sugarmate — as mobile app that helps people better manage their diabetes.

Financial terms of the deal were not disclosed. Nearly 30,000 people relying on insulin pumps or multiple daily injections presently use the Sugarmate app.

Sugarmate cofounder Josh Juster will join Tandem as a VP and will continue to lead Sugarmate as a wholly-owned subsidiary of the insulin pump maker.

Sugarmate’s creators designed it to help people visualize their diabetes therapy data in an innovative way. They can log glucose data and health and nutrition information and receive notifications and alerts that can also go to designated family and caregivers.

“Our acquisition of Sugarmate represents an exciting addition to our digital offerings, and …