Nemaura Medical (NSDQ:NMRD) shares took a slight hit today on first-quarter results that reflected losses of over $1 million.
The Loughborough, England-based continuous glucose monitor maker did not report its revenue numbers for the quarter, having posted losses of $1.1 million, or -5¢ per share for the three months ended June 30, 2020, for a 12.1% bottom-line gain from losses of $1.25 million last year.
“We continue to make significant strides towards our commercial goals of diabetes prevention and management, and this quarter we secured sufficient capital to support our planned product launch in the USA, UK and Germany, demonstrating investor confidence in the company, its management and its product pipeline,” Nemaura CEO Dr. Faz Chowdhury said in a news release. “Diabetes management and prevention is now not only actively pursued by healthcare insurers where the long term savings are substantial, but also by mainstream employers who are taking an increasingly keen interest in the health and wellbeing of their employees.
“With over 88 million people with pre-diabetes and over 25 million people with Type 2 diabetes in the USA we are looking forward to being part of the solution using our world first non-invasive daily-use sensor technology.”
NMRD shares were down -1% at $5.49 per share in mid-afternoon trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 0.7%.