Why Nemaura Medical's Stock Is Trading Lower Today

Nemaura Medical (NASDAQ: NMRD) shares are trading lower on Tuesday after the company filed for a common stock offering of 1.6 million shares.

Nemaura Medical Inc is a medical technology company developing sugarBEAT as a non-invasive, affordable and flexible Continuous Glucose Monitor (CGM) designed for people with diabetes and pre-diabetics to manage their glucose levels.

Insulin users can adjunctively use sugarBEAT when calibrated with a finger-stick glucose reading. SugarBEAT consists of a daily disposable adhesive skin-patch connected to a rechargeable transmitter with an app displaying glucose readings at five minute intervals for periods up to 24 hours.

Nemaura Medical shares were trading down 25.76% at $6.88 on Tuesday. The stock has a 52-week high of $16.50 and a 52-week low of $2.50.