Tandem Diabetes Care, Inc. (TNDM - Free Report) recently announced positive study results of the t: slim X2 insulin pump with Basal-IQ predictive low-glucose suspend technology. The outcome demonstrates that the use of the t:slim X2 insulin pump with Basal-IQ technology led to an immediate and a consistent reduction in hypoglycemic events.
Results of the study are considered a major breakthrough by the company in the field of diabetes management.
The Study at a Glance
In this study, a retrospective analysis of de-identified data from the t:connect diabetes management application was conducted. The outcomes were collected from a set of patients aged six years and above who had previously used Basal-IQ technology for at least 21 days between Aug 31, 2018 and Mar 14, 2019. Two sub-analyses were also conducted.
The results showed sustained reductions in hypoglycemia across all groups using Basal-IQ technology, irrespective of any prior therapy. In the sub-analysis of people who used a CGM-enabled t:slim X2 pump prior to the initiation of Basal-IQ technology, a 45% relative risk reduction in hypoglycaemia was achieved through the latest innovation. While the sub-analysis of those put on nine weeks of Basal-IQ technology application demonstrates a massive 71% relative risk reduction in hypoglycemic events.
Per Transparency Market Research, the global insulin pumps market is projected to reach around $9.50 billion by the end of 2025. The market is anticipated to witness a CAGR of 9.80% during the 2017-2025 period. Therefore, the findings of these studies are timely.
Lately, Tandem Diabetes is investing in several developmental initiatives pertaining to the t:slim X2 insulin pump. Per Tandem Diabetes, the core team is gearing up for the launch of the t:slim X2 with Control-IQ technology. This is especially exciting as the company believes that the system to be introduced in the market will be the most advanced automation insulin offering worldwide. In this regard, in June, the company released positive results from the two studies of t: slim X2 insulin pump with Control-IQ advanced hybrid closed-loop technology.
In March 2019, the company announced that it is now registered as an approved vendor of insulin pumps and supplies under the Assistive Devices Program (ADP) in Ontario, Canada.
In October 2018, the company received a Health Canada Medical Device License for the t:slim X2 insulin pump. Recently, the company also declared that the FDA has classified the t:slim X2 insulin pump as the first product in a new device category — Alternate Controller Enabled Infusion Pumps (ACE pumps).
In the past year, the company’s shares have outperformed its industry. The stock has surged 41.7% against the industry’s 11.4% decline.
Zacks Rank & Other Key Picks
Tandem Diabetes currently carries a Zacks Rank #2 (Buy). Some other top-ranked stocks in the broader medical space are Medtronic (MDT - Free Report) , Baxter (BAX - Free Report) and Haemonetics (HAE - Free Report) , each carrying the same favorable Zacks Rank as Tandem Diabetes. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Medtronic’s long-term earnings growth rate is expected to be 7.13%.
Baxter’s long-term earnings growth rate is projected at 12.8%.
Haemonetics’ long-term earnings growth rate is estimated to be 13.5%.
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