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Tandem Diabetes Rallies After FDA Approves Insulin Pump With New Technology

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Tandem Diabetes Rallies After FDA Approves Insulin Pump With New Technology

Tandem Diabetes Care Inc (NASDAQ: TNDM) shares were rallying Friday following FDA approval of the company's new insulin pump. 

Tandem Diabetes were trading up 12.4 percent to $22.83 at the time of publication Friday morning.

What Happened

The medical device maker announced Thursday the FDA approved its t:slim X2 Insulin pump with Basal-IQ technology.

Basal-IQ technology is a "predictive low glucose suspend" feature that which reduces the frequency and duration of low glucose events, according to the company. 

Why It's Important

The t:slim X2, according to the company, is the first automated insulin delivery system approved for use by children as young as 6. It is also compatible with integrated continuous glucose monitoring devices, the company said. 

Tandem Diabetes plans to launch the product with Dexcom G6 continuous glucose monitoring devices integration.

What's Next

Tandem Diabetes expects to make the t:slim X2 pump with Basal-IQ technology available in the U.S. in August.

The company said those already using the t:slim X2 pump have the option to add the new feature through a remote software update.

Incidentally, Medtronic PLC (NYSE: MDT) also announced FDA approval for an expanded use of its MiniMed 670G system in patients with Type 1 diabetes who are 7 years and older.

The Medtronic pump was originally approved in September 2017 for use in patients 14 and up.

Related Links:

Benzinga's Daily Biotech Pulse: FDA Greenlights Tandem Diabetes' Insulin Pump, More IPOs On Tap

Caladrius Shares Extend Rally After FDA Grants Special Status To Cell Therapy

Photo courtesy of Tandem Diabetes. 

Posted-In: Diabetes insulin pumpNews Health Care FDA Trading Ideas General Best of Benzinga

 

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