Tandem Diabetes Care, Inc. (NASDAQ: TNDM) stock is experiencing a notable price-uptick this morning, following the disclosure of its financial results. As of the latest check, TNDM shares were trading 18.38% higher to $41.68.
Driving Force behind Financial Growth
The company’s robust financial performance for the second quarter has been largely attributed to strong demand for its latest technological innovations, particularly the Tandem Mobi. This surge in interest has facilitated Tandem Diabetes’s expansion within the insulin pump market.
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The early positive reception of its growing portfolio reinforces TNDM’s strategy to provide diverse options for customers as the company strives to extend the benefits of its technology to a broader global population living with diabetes.
Tandem Diabetes reported a 13% increase in worldwide GAAP sales, totaling $221.9 million, and successfully shipped 20,000 insulin pumps within the United States. Additionally, the company has commenced the international rollout of Tandem Source.
Product Integrations
During this period, Tandem Diabetes introduced Tandem Mobi integrated with the Dexcom G7 continuous glucose monitoring (CGM) sensor in the United States. TNDM also finished enrolling participants in the Control-IQ pivotal trial, which aims to allow people with type 2 diabetes to utilize Control-IQ technology.
Tandem reported this week that Health Canada has approved the upgraded t:slim X2 insulin pump software. This will make TNDM’s insulin pump compatible with both the Dexcom G7 and G6 CGM devices.
Commercial availability of the updated software is anticipated for this fall. Tandem will notify all Canadian users with an in-warranty t:slim X2 pump via email, offering them the option to select between Dexcom G7 and Dexcom G6 through a complimentary remote software update. New purchasers will receive t:slim X2 pumps equipped with the updated software.
Future Prospects
This integration represents a milestone as the first automated insulin delivery (AID) system in Canada to be compatible with both Dexcom G7 and Dexcom G6 CGMs. It underscores Tandem Diabetes’s ongoing leadership in advancing AID systems and expanding choice for users.
The company also celebrates over a decade of partnership with Dexcom, which has culminated in this significant development, benefiting users in Canada with the premier insulin pump brand paired with Dexcom’s latest CGM technology.
