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Insulet (PODD) Reports Positive Study Outcomes on Omnipod 5

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Insulet Corporation (PODD - Free Report) recently presented data from pivotal studies at the American Diabetes Association Virtual 81st Scientific Sessions, concerning the treatment of type 1 diabetes in pre-school children and patients aged from six to 70 years with the Omnipod 5 Automated Insulin Delivery System (Omnipod 5). The company also presented data pertaining to the use of non-automated insulin delivery (AID) system products, the Omnipod System and Omnipod DASH System.

The Omnipod 5 is a tubeless, wearable AID system that continuously adjusts insulin delivery based on glucose levels and trends. The outcomes from the pivotal studies show that Omnipod 5 has significantly reduced diabetes distress and improved quality of life that are complementary to its glycemic benefits.

The Pivotal Trial in Detail

The Omnipod 5 preschool pivotal study evaluated a group of 80 preschool children across 10 U.S. sites aged between two and 5.9 years with an HbA1c below 10.0%. Participants used the Omnipod 5 for a period of five months after a 14-day use of their standard therapy. The study reported an overall reduction in HbA1c from 7.4% to 6.9%, improvement in time in range from 57.2% to 68.1%, reduced median time in hypoglycemia from 2.2% to 1.9%, improved sleep quality per Pittsburgh Sleep Quality Index and positive outcome for caregivers.

Insulet also reported Omnipod 5 pivotal study outcomes in people aged six to 70 years with type 1 diabetes. About 33 participants, transitioning from Multiple Daily Injections to Omnipod 5, reported improved HbA1c and time in range after three months of use. An extended study of 224 pivotal study participants continuing use of Omnipod 5 demonstrated sustained improvements in both HbA1c over six months of use and time in range with minimal time below range.

Zacks Investment Research

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An adult cohort study of 13,389 people with type 1 diabetes initiating therapy with the Omnipod System or the Omnipod DASH System showed significant reduction in HbA1c, daily insulin dosage and self-reported hypoglycemia from 3 episodes to 1.6 episodes per week. Similar results were observed in an analysis of 6,034 children below two years.

Industry Prospects

Per a report published in PR Newswire, the global Automated Insulin Delivery System market is expected to see a CAGR of 6% by 2027. Factors like increasing prevalence of diabetes, rise in R&D activities, technological advancements, favorable reimbursement policies and several awareness programs are key factors driving market growth.

Given the market prospects, favorable pivotal study data for Omnipod 5 bears strategic significance.

Notable Developments

In April 2021, Insulet launched the syndication of new senior secured credit facilities. These new facilities consist of a senior secured revolving facility and a senior secured term loan B facility. The proceeds of the senior secured credit facilities are intended for use in general corporate purposes.

In January 2021, the company launched the Omnipod DASH Insulin Management System (Omnipod DASH System) in Canada. The Omnipod DASH System is a convenient insulin delivery system, which integrates waterproof, tubleless, wearable Pod with a sleek, touchscreen Personal Diabetes Manager to simplify diabetes management. The Pod provides up to three days of insulin delivery without the need for daily injections.

Share Price Performance

The stock has outperformed its industry over the past year. It has grown 48.9% compared to the industry’s 19.9% growth.

Zacks Rank and Key Picks

Currently, Insulet carries a Zacks Rank #4 (Sell).

A few better-ranked stocks from the Medical-Products industry are PetIQ, Inc. (PETQ - Free Report) , National Vision Holdings, Inc. (EYE - Free Report) and Envista Holdings Corporation (NVST - Free Report) .

PetIQ, currently sporting a Zacks Rank #1 (Strong Buy), has a long-term earnings growth rate of 25%. You can see the complete list of today’s Zacks #1 Rank stocks here.

National Vision Holdings, which carries a Zacks Rank #1, has a long-term earnings growth rate of 23%.

Envista Holdings, which carries a Zacks Rank #2 (Buy), has a long-term earnings growth rate of 26.4%.

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