Medical device company and manufacturer of touchscreen insulin pumps, Tandem Diabetes Care, Inc. (NASDAQ:TNDM), announces it is working on the integration of their technologies with two other companies into the NIH-funded IDCL Trial starting later this year.
Tandem Diabetes Care®, Inc. (TNDM), a medical device company and manufacturer of the only touchscreen insulin pumps available in the United States, Dexcom, Inc. (DXCM), a leader in continuous glucose monitoring (CGM) for people with diabetes, and TypeZero Technologies, LLC, a digital health and personalized medicine company, today announced that they are working together on the integration of their technologies into the NIH-funded International Diabetes Closed Loop (IDCL) Trial starting later this year.
A Tandem insulin pump and Dexcom G5 sensor will be included as part of a blood glucose control system that combines these devices with a smartphone running TypeZero’s inControl closed loop algorithm. The system predicts high and low blood sugar levels and adjusts insulin delivery accordingly throughout the day, while still allowing the user to manually bolus for meals. In addition to basal insulin adjustments, TypeZero’s inControl system also automates correction boluses. Tandem and Dexcom anticipate adding a Dexcom G6 sensor-integrated t:slim X2 Pump that incorporates inControl’s algorithms directly into the pump’s touchscreen interface to the IDCL Trial in 2017. The companies anticipate that the integrated design, together with data from the IDCL Trial, will be the basis for a future regulatory submission by Tandem.
“The IDCL Trial is designed as a pivotal trial of a closed-loop control-to-range system, and includes seven institutions in the U.S. and three in Europe led by the University of Virginia,” said Boris Kovatchev, PhD, Director of the Center for Diabetes Technology at the University of Virginia and principal investigator of the IDCL Trial. “The integration of technology provided by Tandem, Dexcom, and TypeZero in this trial represents a new level of sophistication in artificial pancreas research and development.”
“A world-class automated insulin delivery system needs to be simple to use, rely on the most accurate CGM data available, and use a proven and trusted algorithm,” said Kim Blickenstaff, president and CEO of Tandem Diabetes Care. “We believe the combination of Tandem, Dexcom, and TypeZero technologies will deliver all three, and we are honored to be working together with them for this trial.”
“Our efforts with Tandem began with the display of CGM data on their t:slim G4 Pump and we are pleased to take this next step in the integration of our future products to support automated insulin delivery,” said Steve Pacelli, EVP, Strategy & Corporate Development at Dexcom.
“The addition of Tandem’s innovative touchscreen pumps to the IDCL Trial is tremendous, and a great first step in their integration of our inControl algorithm into a future software update for the t:slim X2 Pump,” said Chad Rogers, Chief Executive Officer at TypeZero Technologies. “We look forward to bringing these solutions to patients in the upcoming IDCL trial and ultimately delivering a best-in-class automated insulin delivery solution to patients across the globe.”
The IDCL Trial is expected to enroll 240 adults with type 1 diabetes and is projected to start in late 2016. TypeZero’s technology includes a series of algorithms developed from initial research conducted at the University of Virginia. To date, this technology has been used in more than 28 clinical studies including more than 475 participants, with data referenced in a number of journal articles.1
About Tandem Diabetes Care, Inc.
Tandem Diabetes Care, Inc. (www.tandemdiabetes.com) is a medical device company with an innovative, user-centric and integrated approach to the design, development and commercialization of products for people with diabetes who use insulin. The Company manufactures and sells the t:slim X2™ Insulin Pump, the slimmest and smallest durable insulin pump currently on the market, the t:flex® Insulin Pump, the first pump designed for people with greater insulin requirements, and the t:slim G4™ Insulin Pump, the first continuous glucose monitoring-enabled pump with touch-screen simplicity. Tandem is based in San Diego, California.
About Dexcom, Inc.
Dexcom, Inc., headquartered in San Diego, CA, is dedicated to helping people better manage their diabetes by developing and marketing continuous glucose monitoring (CGM) products and tools for adult and pediatric patients. With exceptional performance, patient comfort and lifestyle flexibility at the heart of its technology, users have consistently ranked Dexcom highest in customer satisfaction and loyalty. For more information on the Dexcom CGM, visit www.dexcom.com.
About TypeZero Technologies, LLC
The world leader in clinically tested artificial pancreas solutions, TypeZero Technologies is a digital health and personalized medicine startup dedicated to revolutionizing the treatment and management of diabetes. TypeZero is combining next-generation data science techniques, proven metabolic models, and modern engineering practices to develop customized analytics tools and blood glucose control solutions to help people with diabetes improve their health and lives. TypeZero’s current products include a smartphone-based Artificial Pancreas system, therapy optimization tools for health care providers, and advisory applications for smart insulin pens. To learn more, visit www.typezero.com.
Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) are actively moving +15.56% thus far today on the news and have traded in the range of $2.30 – 3.25 during the session. A number of research firms have recently weighed in on the stock, providing future price targets. The covering firms currently have a consensus one-year price target of $6.22 on the stock. This is according to brokerage analysts polled by Thomson Reuters First Call. This is the average number from the individual targets provided by the firms. Analysts are projecting earnings per share of $-0.65 for the next fiscal quarter. For the current year, analysts are predicting earnings of $-2.66 per share according to First Call.
In looking at where the stock is trading on a technical level, the stock is trading -50.12% away from its 50-day moving average of $5.21. Based on the most recent available data, the equity is -79.17% off of its 52-week high of $12.48 and +62.50% away from its 52-week low which is $1.60.
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Today, the stock opened at $2.30 and the last bid at the time of writing stood at $2.60. During the session thus far, the equity dipped down to $2.30 and touched $3.25 as the high point. Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has a market cap of $79.59M and has seen an average daily volume of 295,202 over the past three months.
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