The shares of Nemaura Medical Inc. (NASDAQ: NMRD) were trading 12.12% higher at $12.4 before the bell at last check. Nemaura stock closed the Wednesday session at $11.06 on a gain of 135.32%.
There were 58.07 million shares of NMRD stock traded during the day, higher than the 1.25 million average daily volumes within the past 50 days. The NMRD stock price has been rising in recent sessions due to significant orders for it sugerBEAT sensors.
Who place the order?
Medical technology company Nemaura Medical Inc. develops and commercialize wearable diagnostic devices using non-invasive testing. sugarBEAT and proBEAT are currently being commercialized by the NMRD.
sugarBEAT, CE-marked as Class IIb medical device, is an in-home continuous glucose monitor that provides actionable information that helps people with diabetes and pre-diabetes manage, prevent or reverse diabetes. A premarket approval application (PMA) for sugarBEAT has been submitted by NMRD to the U.S. FDA.
It was announced yesterday that Nemaura had received a purchase order of 5,000 sugarBEAT transmitters and 200,000 sugarBEAT sensors from its licensee in the United Kingdom. Also included is a rolling forecast of 15,000 transmitters and 2.1 million sensors for the next 24 months, with an option for increased volume based on customer response.
DB Ethitronix has received positive feed-back following the soft launch of its sugarBEAT non-invasive glucose monitor (CGM) in the U.K. A subscription service for diabetes management with sugarBEAT technology has been established by DB Ethitronix.
NMRD’s further plans:
Due to NMRD’s sugarBEAT being the only daily-wear glucose monitor in the world that allows users to monitor their glucose levels on their own schedule, resulting in reduced costs for end-users, user feedback has been extremely positive. Having launched successfully in the U.K., Nemaura (NMRD) is now working towards joint launches in Germany, Saudi Arabia and the United Arab Emirates.