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The global diabetes care market, valued at $18.9 billion in 2023, is projected to reach $35.8 billion by 2028, with the insulin pump segment expected to grow from $5.26 billion to $21.65 billion by 2032. As reported by Fortune Business Insights, this rapid growth is driven by increasing diabetes prevalence and technological advancements in insulin delivery devices.

Modular Medical, Inc. (NASDAQ: MODD, $1.69, -.59% over the last 5-days and is up 19.01% over the last year), an insulin delivery system technology company preparing to launch a market expansion product with a more accessible, easier to prescribe, and easier to pay for and live with technology. Using its patented technologies, the company seeks to eliminate the tradeoff between complexity and efficacy, thereby making top quality insulin delivery both affordable and simple to learn. Their mission is to improve access to the highest standard of glycemic control for people with diabetes taking it beyond “superusers” and providing “diabetes care for the rest of us.” Modular Medical was founded by Paul DiPerna, a seasoned medical device professional and microfluidics engineer. Prior to founding Modular Medical, Mr. DiPerna was the founder (in 2005) of Tandem Diabetes and invented and designed its t:slim insulin pump. More information is available at https://modular-medical.com.

On November 21, Modular announced that it has priced an underwritten public offering (the “offering”) of 5,450,573 shares of its common stock. The offering was led by existing institutional investors, including Manchester Explorer, L.P., which is the largest shareholder of the Company and is managed by Jeb Besser, Modular Medical’s Chief Executive Officer. The shares of common stock are being sold at a price to the public of $1.50 per share of common stock, less underwriting discounts and commissions. The gross proceeds to the Company from the offering are expected to be approximately $8.2 million, before deducting underwriting discounts, commissions and estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the offering to fund operations and for working capital and general corporate purposes, including capital expenditures. The offering is expected to close on or about November 25, 2024, subject to the satisfaction of customary closing conditions.

On November 11, Modular Medical, Inc.’s Chief Executive Officer, Jeb Besser delivered a presentation titled “Tailoring GLP-1 Weight Loss Treatments: Innovative Approaches To Personalized Dosing.” He was also available for a 5-10 minute Q&A session at the end of the presentation. 

On Nov. 7, Modular Medical announced successful results from its pre-clinical GLP-1 proof of concept study.  They highlighted the following: Study showed more potent weight loss and blood glucose control with the addition of a mealtime bolus of a rapid acting GLP-1 to basal delivery, Observed weight loss was 17% at 28 days, a 25% improvement over GLP-1 delivered as basal alone, & Findings suggest that pump delivery may be a viable approach to achieve GLP-1 weight and blood glucose benefits that are comparable with current treatment standards, either as initial treatment or for maintenance, while bringing personalized dosing flexibility. “With these encouraging results, we are now planning to take this concept of a synergistic basal-bolus GLP-1 combination into a human trial using our MODD1 device. We are considering both existing fast acting GLP-1s and other peptides for this trial, as we see this as a platform technology that could be used for more personalized titration for both non-responder or non-adherent patients experiencing GI and other issues with long acting GLP-1s, as well as for other specialty applications in metabolic therapies. This type of application is well suited for our MODD1 pump, given its quick training time, simple interface, high accuracy at low flow rates, reusable low-cost electronics, and a prefill-capable 3mL reservoir,” stated Jeb Besser, CEO of Modular Medical.

In October, Modular’s CEO was interviewed by Carole Sullivan on the Today In Nashville program affiliated with Channel 4 WSMV. The segment is called “New Tools for Treating Diabetes by Modular Medical.” You may watch the video now at this link.

On September 18, Modular Medical announced the issuance of U.S. Divisional Patent Application No. 17/968,599. “The issuance of this patent and the associated claims represent a major step in our efforts to protect the intellectual property in the MODD1 pump platform,” stated Jeb Besser, CEO of Modular Medical. “Some of the key features of our novel, low-cost and accurate insulin delivery technology are now protected by this important issued U.S. patent, which we believe represents a significant new barrier to entry. Our eight families of patents around our pump are an important part of our strategic value and market positioning, and we look forward to announcing further issuances on our portfolio in the future.”

On Wednesday, September 4, Modular announced it has received U. S. Food and Drug Administration (“FDA”) clearance to market and sell its MODD1 pump in the United States. With its commercial manufacturing infrastructure substantially established, the Company anticipates the MODD1 should be available for sale in early 2025.

 

James (Jeb) Besser, CEO of Modular Medical (NASDAQ: MODD)

“For too long, the benefits of superior glycemic control achieved by insulin pumps have, due to cost and complexity, been restricted to only the most sophisticated, motivated and well-insured users. The goal of Modular Medical has always been to change this by making diabetes technology accessible and affordable to underserved communities. We seek to make the experience of going ‘on a pump’ simpler and less intimidating and to widen the base beyond the current pump users,” said Jeb Besser, CEO of Modular Medical.

QUOTE OF WEEK

Investing & Inspiration

1. “The most worth-while thing is to try to put happiness into the lives of others.” – Robert Baden-Powell
2. “A good beginning makes a good end.” – Louis L’Amour
3. “Humanity is acquiring all the right technology for all the wrong reasons.” – R. Buckminster Fuller
4. “There is a certain enthusiasm in liberty, that makes human nature rise above itself, in acts of bravery and heroism.” – Alexander Hamilton
5. “You don’t take a photograph, you make it.” – Ansel Adams
6. “The less we deserve good fortune, the more we hope for it.” – Lucius Annaeus Seneca
7. “Art is the right hand of Nature. The latter has only given us being, the former has made us men.” – Friedrich Schiller
8. “To begin, begin.” –  William Wordsworth
9. “Nature does not hurry, yet everything is accomplished.” – Lao Tzu
10. “The end of labor is to gain leisure.” – Aristotle
11. “People are not disturbed by things, but by the view they take of them.” – Epictetus
12. “Have patience. All things are difficult before they become easy.” – Saadi
13. “The future rewards those who press on. I don’t have time to feel sorry for myself. I don’t have time to complain. I’m going to press on.” – Barack Obama
14. “The traveler sees what he sees, the tourist sees what he has come to see.” – Gilbert K. Chesterton
15. “The only true wisdom is in knowing you know nothing.” – Socrates
16. “Courage is knowing what not to fear.”– Plato
17. “The home is the chief school of human virtues.” – William Ellery Channing
18. “Be brave. Take risks. Nothing can substitute experience.” – Paulo Coelho
19. “There are no shortcuts in evolution.” – Louis D. Brandeis
20. “A friend may well be reckoned the masterpiece of nature.” –  Ralph Waldo Emerson
21. “Nature uses as little as possible of anything.” – Johannes Kepler
22. “Every new beginning comes from some other beginning’s end.” – Seneca
23. “Nothing ever becomes real till it is experienced.” – John Keats
24. “Nobody who ever gave his best regretted it.” – George Halas
25. “Honest disagreement is often a good sign of progress.” – Mahatma Gandhi
26. “A leader is one who knows the way, goes the way, and shows the way.” – John C. Maxwell
27. “They always say time changes things, but you actually have to change them yourself.” – Andy Warhol
28. “The secret of happiness is something to do.” – John Burroughs
29. “The world of reality has its limits; the world of imagination is boundless.”
30. “You begin with the possibilities of the material.” – Robert Rauschenberg
31. “The only Zen you can find on the tops of mountains is the Zen you bring up there.” – Robert M. Pirsig
32. “Leadership is the capacity to translate vision into reality.” – Warren Bennis
33. “A man should always consider how much he has more than he wants.” – Joseph Addison
34. “Happiness is good health and a bad memory.” –  Ingrid Bergman
35. “We pass through this world but once.” – Stephen Jay Gould
36. “Christmas waves a magic wand over this world, and behold, everything is softer and more beautiful.” – Norman Vincent Peale
37. “Nothing can have value without being an object of utility.” – Karl Marx
38. “Always turn a negative situation into a positive situation.” – Michael Jordan
39. “Courage is found in unlikely places.” – J. R. R. Tolkien
40. “One that would have the fruit must climb the tree.” – Thomas Fuller
41. “Someone is sitting in the shade today because someone planted a tree a long time ago.” – Warren Buffett
42. “We relish news of our heroes, forgetting that we are extraordinary to somebody too.” – Helen Hayes
43. “A life spent making mistakes is not only more honorable, but more useful than a life spent doing nothing.” – George Bernard Shaw
44. “Everything in the world may be endured except continual prosperity.”  – Johann Wolfgang von Goethe
45. “Nine-tenths of wisdom is being wise in time.” – Theodore Roosevelt
46. “Time is money.” – Benjamin Franklin
47. “Change before you have to.” – Jack Welch
48. “Our deeds determine us, as much as we determine our deeds.” – George Eliot
49. “The Universe is under no obligation to make sense to you.” – Neil deGrasse Tyson
50. “Care and diligence bring luck.” – Thomas Fuller
51. “Nobody made a greater mistake than he who did nothing because he could do only a little.” – Edmund Burke
52. “A man who is a master of patience is master of everything else.” – George Savile
53. “Once you replace negative thoughts with positive ones, you’ll start having positive results.” – Willie Nelson
54. “Endurance is nobler than strength, and patience than beauty.” – John Ruskin
55. “Act as if what you do makes a difference. It does.” – William James
56. “Let us be grateful to people who make us happy, they are the charming gardeners who make our souls blossom.” –  Marcel Proust
57. “Strength and growth come only through continuous effort and struggle.” – Napoleon Hill
58. “Science may never come up with a better office communication system than the coffee break.” – Earl Wilson
59. “If everyone is moving forward together, then success takes care of itself.” – Henry Ford
60. “Hope is like the sun, which, as we journey toward it, casts the shadow of our burden behind us.”– Samuel Smiles
61. “Patriotism is supporting your country all the time, and your government when it deserves it.” – Mark Twain
62. “What would life be if we had no courage to attempt anything?” – Vincent Van Gogh
63. “The biggest risk is not taking any risk… In a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” – Mark Zuckerberg
64. “Our lives improve only when we take chances – and the first and most difficult risk we can take is to be honest with ourselves.” – Walter Anderson
65. “Action is the foundational key to all success.” – Pablo Picasso
66. “Success is never final, failure is never fatal. It’s courage that counts.” – John Wooden
67. “Innovation distinguishes between a leader and a follower.” – Steve Jobs
68. “All the art of living lies in a fine mingling of letting go and holding on.” – Havelock Ellis
69. “The size of your success is measured by the strength of your desire; the size of your dream; and how you handle disappointment along the way.” – Robert Kiyosaki
70. “O, wind, if winter comes, can spring be far behind?” – Percy Bysshe Shelley
71. “Patience is a virtue, and I’m learning patience. It’s a tough lesson.” – Elon Musk
72. “Be true to your work, your word, and your friend.” – John Boyle O’Reilly
73. “Believe in yourself! Have faith in your abilities! Without a humble but reasonable confidence in your own powers you cannot be successful or happy.” – Norman Vincent Peale
74. “Surprise is the greatest gift which life can grant us.” – Boris Pasternak
75. “Logic will get you from A to B. Imagination will take you everywhere.” – Albert Einstein
76. “It is the fight alone that pleases us, not the victory.” – Blaise Pascal
77. “Do exactly what you would do if you felt most secure.” – Meister Eckhart
78. “Life lived for tomorrow will always be just a day away from being realized.” – Leo Buscaglia
79. “Wisdom is oftentimes nearer when we stoop than when we soar.” – Wordsworth
80. “Take chances, make mistakes. That’s how you grow. Pain nourishes your courage. You have to fail in order to practice being brave.” – Mary Tyler Moore
81. “A single twig breaks, but the bundle of twigs is strong.” – Tecumseh
82. “If one does not know to which port one is sailing, no wind is favorable.” – Lucius Annaeus Seneca
83. “There is little that can withstand a man who can conquer himself.” – Louis XIV
84. “The limits of the possible can only be defined by going beyond them into the impossible.” – Arthur C. Clarke
85. “Be faithful in small things because it is in them that your strength lies.” – Mother Teresa
86. “The future rewards those who press on. I don’t have time to feel sorry for myself. I don’t have time to complain. I’m going to press on.” – Barack Obama
87. “By three methods we may learn wisdom: First, by reflection, which is noblest; Second, by imitation, which is easiest; and third by experience, which is the bitterest.” – Confucius
88. “No man was ever wise by chance.” – Lucius Annaeus Seneca
89. “Progress is man’s ability to complicate simplicity.” – Thor Heyerdahl
90. “It is not in the stars to hold our destiny but in ourselves.” – William Shakespeare

91. “It does not matter how slowly you go as long as you do not stop.” – Confucius

92. “I want to put a ding in the universe.” – Steve Jobs

93. “Research is creating new knowledge.” – Neil Armstrong

94. “The reward for work well done is the opportunity to do more.” – Jonas Salk
95. “Man is a creative retrospection of nature upon itself.” – Karl Wilhelm Friedrich Schlegel
96. “There’s something about taking a plow and breaking new ground. It gives you energy.” – Ken Kesey

97. “Success seems to be largely a matter of hanging on after others have let go.” – William Feather

98. “The essential conditions of everything you do must be choice, love, passion.” – Nadia Boulanger

99. “More business is lost every year through neglect than through any other cause.” – Rose Kennedy

100. “Give me a lever long enough and a fulcrum on which to place it, and I shall move the world.” – Archimedes

101. “A person who won’t read has no advantage over one who can’t read.” – Mark Twain

102. “The best way out is always through.” – Robert Frost

103. “Start by doing what’s necessary; then do what’s possible; and suddenly you are doing the impossible.” – Francis of Assisi

104. “Without labor nothing prospers.” – Sophocles

105. “Intellectuals solve problems, geniuses prevent them.” – Albert Einstein

106. “This is the precept by which I have lived: Prepare for the worst; expect the best; and take what comes.” – Hannah Arendt

107. “The best and most beautiful things in the world cannot be seen or even touched – they must be felt with the heart.” – Helen Keller

108. “He who is brave is free.” – Lucius Annaeus Seneca

109. “When something is important enough, you do it even if the odds are not in your favor.” – Elon Musk

110. “I choose a block of marble and chop off whatever I don’t need.” – Auguste Rodin

111. “Hope is the only bee that makes honey without flowers.” – Robert Green Ingersoll

112. “He who knows that enough is enough will always have enough.” – Lao Tzu

113. “Plans to protect air and water, wilderness and wildlife are in fact plans to protect man.” – Stewart Udall

114. “In order to carry a positive action we must develop here a positive vision.” – Dalai Lama

115. “A hero is someone who understands the responsibility that comes with his freedom.” – Bob Dylan
116. “Inflation destroys savings, impedes planning, and discourages investment. That means less productivity and a lower standard of living.” – Kevin Brady
117. “If we give something positive to others, it will return to us. If we give negative, that negativity will be returned.” – Allu Arjun
118. “A good plan violently executed now is better than a perfect plan executed next week.” ~ George S. Patton
119. “You must do the things you think you cannot do.”- Eleanor Roosevelt
120. “Success is dependent on effort.” – Sophocles
121. “Nobody who ever gave his best regretted it.” – George Halas
122. “Lots of people want to ride with you in the limo, but what you want is someone who will take the bus with you when the limo breaks down.” ~ Oprah Winfrey
123. “And when I breathed, my breath was lightning.” – Black Elk
124. “Moderation is the silken string running through the pearl chain of all virtues.” – Joseph Hall
125. “You are the sum total of everything you’ve ever seen, heard, eaten, smelled, been told, forgot – it’s all there. Everything influences each of us, and because of that I try to make sure that my experiences are positive.” – Maya Angelou
126. “If you want a guarantee, buy a toaster.” – Clint Eastwood
127. “We are an impossibility in an impossible universe.” – Ray Bradbury
128. “If you think in terms of a year, plant a seed; if in terms of ten years, plant trees; if in terms of 100 years, teach the people.” – Confucius
129. “I’d rather attempt to do something great and fail than to attempt to do nothing and succeed.” – Robert H. Schuller
130. “Do your little bit of good where you are; it’s those little bits of good put together that overwhelm the world.” Desmond Tutu
131. “It takes considerable knowledge just to realize the extent of your own ignorance.” – Thomas Sowell
132. “Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.” – Buddha”
133. Surprise is the greatest gift which life can grant us.” –  Boris Pasternak
134. “Trust in dreams, for in them is hidden the gate to eternity.” – Khalil Gibran 
135. “Always be yourself, express yourself, have faith in yourself, do not go out and look for a successful personality and duplicate it.” – Bruce Lee
136. “All life is an experiment. The more experiments you make the better.” – Ralph Waldo Emerson
137. “There are no secrets to success. It is the result of preparation, hard work, and learning from failure.” –  Colin Powell
138. “There is more to life than increasing its speed.” – Mahatma Gandhi
139. “Your attitude is like a box of crayons that color your world. Constantly color your picture gray, and your picture will always be bleak. Try adding some bright colors to the picture by including humor, and your picture begins to lighten up.” – Allen Klein
140. “Definiteness of purpose is the starting point of all achievement.” – W. Clement Stone
141. “Success usually comes to those who are too busy to be looking for it.” – Henry David Thoreau
142. “In matters of truth and justice, there is no difference between large and small problems, for issues concerning the treatment of people are all the same.” – Albert Einstein
143. “Life is too short for long-term grudges.” – Elon Musk
144. “There cannot be a crisis next week. My schedule is already full.” – Henry Kissinger
145. “Success consists of getting up just one more time than you fall.” – Oliver Goldsmith
146. “The Earth is the cradle of humanity, but mankind cannot stay in the cradle forever.” – Konstantin Tsiolkovsky
147. “Ours is a world of nuclear giants and ethical infants. We know more about war that we know about peace, more about killing that we know about living.” – Omar N. Bradley
148. “Beauty surrounds us, but usually we need to be walking in a garden to know it.” – Rumi
149. “But man is not made for defeat. A man can be destroyed but not defeated.” – Ernest Hemingway
150. “Don’t watch the clock; do what it does. Keep going.” – Sam Levenson
151. “Let there be work, bread, water and salt for all.” – Nelson Mandela
152. “The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future.” – John Maynard Keynes
153. “A successful society is characterized by a rising living standard for its population, increasing investment in factories and basic infrastructure, and the generation of additional surplus, which is invested in generating new discoveries in science and technology.” – Robert Trout
154. “I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones.” – Albert Einstein
155. “It is the fight alone that pleases us, not the victory.” – Blaise Pascal
156. “If you can’t describe what you are doing as a process, you don’t know what you’re doing.” – W. Edwards Deming
157. “Never interrupt your enemy when he is making a mistake.” – Napoleon Bonaparte
158. “Be sure you put your feet in the right place, then stand firm.” – Abraham Lincoln
159. “Without investment there will not be growth, and without growth there will not be employment.” – Muhtar Kent
160. “You have to do your own growing no matter how tall your grandfather was.” – Abraham Lincoln
161. “Victory has a thousand fathers, but defeat is an orphan.” – John F. Kennedy
162. “Delete the negative; accentuate the positive!” – Donna Karan
163. “It’s crazy how fast time flies and how things progress.” – Nathan Chen
164. “The world is a dangerous place to live; not because of the people who are evil, but because of the people who don’t do anything about it.” – Albert Einstein
165. “Life isn’t about finding yourself. Life is about creating yourself.” – George Bernard Shaw
166. “Everything has beauty, but not everyone sees it.” – Confucius
167. “A man must be big enough to admit his mistakes, smart enough to profit from them, and strong enough to correct them.” – John C. Maxwell
168. “Walking with a friend in the dark is better than walking alone in the light.” – Helen Keller
169. “A man who dares to waste one hour of time has not discovered the value of life.” – Charles Darwin
170. “The greater danger for most of us lies not in setting our aim too high and falling short; but in setting our aim too low, and achieving our mark.” – Michelangelo
171. “Progress is man’s ability to complicate simplicity.” – Thor Heyerdahl
172. “I like to encourage people to realize that any action is a good action if it’s proactive and there is positive intent behind it.” – Michael J. Fox
173. “Nothing is impossible, the word itself says ‘I’m possible’!” – Audrey Hepburn
174. “But investment in space stimulates society, it stimulates it economically, it stimulates it intellectually, and it gives us all passion.” – Bill Nye
175. “Bitcoin, in the short or even long term, may turn out be a good investment in the same way that anything that is rare can be considered valuable. Like baseball cards. Or a Picasso.” – Andrew Ross Sorkin
176. “Life is a tragedy when seen in close-up, but a comedy in long-shot.” – Charlie Chaplin
177. “No matter what you’re going through, there’s a light at the end of the tunnel and it may seem hard to get to it but you can do it and just keep working towards it and you’ll find the positive side of things.” – Demi Lovato
178. “Infrastructure investment in science is an investment in jobs, in health, in economic growth and environmental solutions.” – Oren Etzioni
179. “Educating our children and giving them the skills they need to compete in a global economy is a smart investment in our country’s future.” – Sheldon Whitehouse
180. “Know thy self, know thy enemy. A thousand battles, a thousand victories.” – Sun Tzu
181. “If one does not know to which port one is sailing, no wind is favorable.” – Lucius Annaeus Seneca
182. “Beware of missing chances; otherwise it may be altogether too late some day.” – Franz Liszt
183. “The sofa is a really important investment for anybody, and I don’t mean financially. You need to find a really great sofa that can transition with you, and you can build from there.” – Jeremiah Brent
184. “There is no investment you can make which will pay you so well as the effort to scatter sunshine and good cheer through your establishment.” – Orison Swett Marden
185. “Nothing in life is to be feared, it is only to be understood. Now is the time to understand more, so that we may fear less.” – Marie Curie
186. “There is little that can withstand a man who can conquer himself.” – Louis XIV
187. “In tennis, you strike a ball just after the rebound for the fastest return. It’s the same with investment.” – Masayoshi Son
188. “A camel makes an elephant feel like a jet plane.” – Jackie Kennedy
189. “The advance of technology is based on making it fit in so that you don’t really even notice it, so it’s part of everyday life.” – Bill Gates
190. “Success depends upon previous preparation, and without such preparation there is sure to be failure.” – Confucius, Chinese 
191. “Coming together is a beginning; keeping together is progress; working together is success.” – Edward Everett Hale
192. “Never do anything against conscience even if the state demands it.”– Albert Einstein
193. “Education is not only a ladder of opportunity, but it is also an investment in our future.” – Ed Markey
194. “The true measure of a man is how he treats someone who can do him absolutely no good.” – Samuel Johnson
195. “In my view, the biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital. Not only is the mere drop in stock prices not risk, but it is an opportunity. Where else do you look for cheap stocks?” – Li Lu
196. “A successful society is characterized by a rising living standard for its population, increasing investment in factories and basic infrastructure, and the generation of additional surplus, which is invested in generating new discoveries in science and technology.” – Robert Trout
197. “The best preparation for tomorrow is doing your best today.” – H. Jackson Brown, Jr.
198. “Friendship marks a life even more deeply than love. Love risks degenerating into obsession, friendship is never anything but sharing.” – Elie Wiesel
199. “Investing in women’s lives is an investment in sustainable development, in human rights, in future generations – and consequently in our own long-term national interests.” – Liya Kebede
200. “Success isn’t measured by money or power or social rank. Success is measured by your discipline and inner peace.” – Mike Ditka
201. “No matter how many goals you have achieved, you must set your sights on a higher one.” – Jessica Savitch 
202. “Start where you are. Use what you have. Do what you can.”– Arthur Ashe
203. “The secret of getting ahead is getting started.” – Mark Twain
204. “The amount of work and the amount of both physical and emotional investment it takes to get to the top.” – Drew Bledsoe