What Awaits Nemaura Medical (NMRD) In 2020?

(RTTNews) - Nemaura Medical Inc. (NMRD), which implemented a 1-for-10 reverse split on December 5, 2019, to regain compliance with NASDAQ, has gained more than 65 percent so far this year.

Nemaura is a medical technology company developing sugarBEAT, a non-invasive daily-use Continuous Glucose Monitor (CGM) for use by people with diabetes and pre-diabetics.

sugarBEAT consists of a daily-disposable adhesive skin-patch connected to a rechargeable transmitter, with an app displaying glucose readings at five-minute intervals throughout the day.

The device received CE Mark approval in Europe last May and has received positive feedback from the first users in the U.K. According to the Company, sugarBEAT has the potential of achieving over 200,000 subscribers in the UK alone. The device is expected to be launched in Germany in the coming months.

The 510K De-Novo application for sugarBEAT is under review by the FDA in the U.S., and a decision is expected by the end of this year.

The Company is optimistic that as the world's first non-invasive, safe, needle-free CGM, sugarBEAT is uniquely positioned to target the underserved $80 billion market for people with both Type 1 & Type 2 diabetes as well as prediabetes.

Nemaura is aiming to have 1 million users for sugarBEAT by 2021, and 3 million users by 2023.

In a bid to improve the management, reversal and prevention of Type 2 diabetes in multiple territories commencing with the United Kingdom and Ireland, Nemaura entered into collaboration with Changing Health, a provider of digital behavior change programs, last December.

Yesterday, the Company announced its plan of initiating a user study comparing sugarBEAT directly against a highly successful major incumbent CGM sensor with the goal of positioning sugarBEAT as a non-invasive, daily/flexible, cost-effective alternative to traditional, expensive invasive CGM.

Dexcom G6 CGM System, which features a 10-day wear sensor, inserted subcutaneously, Eversense implantable CGM, which provides continuous blood glucose monitoring for up to 90 days via an under-the-skin sensor, Abbott's FreeStyle Libre, which features a subcutaneously implanted 14-day sensor, and MiniMed 630G and 670G systems with a 7-day wear sensor inserted into the subcutaneous tissue, are some of the FDA approved Continuous Glucose Monitors.

Being the first non-invasive CGM to provide people an opportunity for daily monitoring, Nemaura believes that sugarBEAT is a better option than the currently available CGM devices with 7 day, 10 day, or 14-day sensor wear time.

The Company ended the year 2019 with cash of $1.07 million.

NMRD closed Tuesday's trading at $5.80, up 77.37%.