Tandem Diabetes Care (NSDQ:TNDM) shares took a massive hit after hours today on third-quarter results that beat the consensus forecast. TNDM shares were down 12.3% at $124.01 per share after the markets closed. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the day down 0.1%. The […]
Business/Financial News
Prime Therapeutics to prefer Viatris’ interchangeable insulin biosimilar
Pharmacy benefit manager Prime Therapeutics announced today that it will prefer Viatris’ (NSDQ:VTRS) Semglee insulin biosimilar injection on its national formularies as part of the pharmacy benefit. In July, the FDA cleared the Semglee insulin glargine-yfgn injection, developed by Viatris in collaboration with Biocon Biologics, as a biosimilar for controlling high blood sugar in adults […]
Catalent beats The Street in Q1, raises revenue guidance
Catalent (NYSE:CTLT) shares dipped today despite first-quarter financial results that beat the consensus forecast. The Somerset, New Jersey-based company posted profits of $93 million, or 49¢ per share, on sales of $1.025 billion for the three months ended Sept. 30, 2021, for a 13.4% bottom-line gain on sales growth of 21.2%. Get the full story at […]
NovaBay prices $15M private placement
NovaBay Pharmaceuticals (NYSE:NBY) announced today that it entered into a securities purchase agreement, with proceeds of approximately $15 million. Emeryville, California-based NovaBay’s agreement with certain institutional investors occurred in connection with a private placement of 15,000 shares of a newly created Series B non-voting convertible preferred stock. The Series B preferred stock comes in at […]
Dexcom enlists celebrities to promote The Global Movement for Time in Range
Dexcom (NSDQ:DXCM) announced today that it will utilize some star power to boost The Global Movement for Time in Range. Musician, actor and philanthropist Nick Jonas, along with musician, actress, author and entrepreneur Patti LaBelle, will both use their platforms to promote the initiative The Global Movement for Time in Range was launched earlier this […]
Dexcom raises guidance ahead of G7 launch, FDA submission imminent
Dexcom (NYSE:DXCM) shares are up more than 9% today — a day after the company announced it will soon formally seek FDA clearance for its next-gen G7 system. The San Diego-based diabetes management technology developer yesterday evening posted profits of $70.9 million, or 71¢ per share, on sales of $650.2 million for the three months […]
Better Therapeutics closes SPAC merger, debuts on Nasdaq
Better Therapeutics announced today that it completed its merger with Mountain Crest Acquisition Corp and has gone public on the Nasdaq. San Francisco-based Better Therapeutics announced its intention to merge with Mountain Crest, a publicly-traded, special purpose acquisition corporation (SPAC), in April. Last month, the company confirmed its expectations for the $113 million SPAC merger to […]
Medtronic facing class action suit from Canada MiniMed insulin pump users
A national class action in Canada has been commenced against Medtronic (NYSE:MDT) over its MiniMed 630G and 670G insulin pumps. Rochon Genova and Cardill Law commenced the proposed class action suit against Medtronic, Medtronic MiniMed and Medtronic of Canada over the insulin pumps approved for use in the country in 2016 and 2018. The pumps […]
West Pharmaceutical Services beats Street in Q3, raises guidance
West Pharmaceutical Services (NYSE:WST) shares rose slightly today on third-quarter results that topped the consensus forecast. The Exton, Pennsylvania-based maker of injectable drug packaging and delivery systems posted profits of $175.6 million, or $2.31 per share, on sales of $706.5 million for the three months ended Sept. 30, 2021, more than doubling its bottom-line on […]
Teva announces two offerings worth $7.5 billion, dips on missed Q3 projections
Teva Pharmaceuticals (NYSE:TEVA) shares took a hit today on third-quarter results that fell short of the consensus forecast. TEVA shares were down -4.7% at $8.95 per share in mid-morning trading. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down -0.8%. The Tel Aviv, Israel-based company posted […]