MODD News & Events

Modular Medical announced the pricing of a public offering with new and existing investors of 68,098,000 shares of its common stock and warrants to purchase up to an aggregate of 68,098,000 shares of its common stock at a combined public offering price of $0.1762 per share and accompanying warrant. The warrants will have an exercise price of $0.1762 per share, will be exercisable immediately, and will expire five years from the date of issuance. The gross proceeds from the offering, before deducting placement agent fees and other offering expenses, are expected to be approximately $12M. The closing of the offering is expected to occur on or about March 4, 2026, subject to the satisfaction of customary closing conditions. Maxim Group is acting as the sole placement agent for the offering.

Modular Medical announced the start of production of validation lots for its Pivot tubeless patch pump's disposable cartridge and infusion set. Achievement of this manufacturing milestone keeps the Company on schedule for commercial launch in Q1 2026, subject to receipt of FDA 510(k) clearance. "We are excited to hit this pivotal manufacturing validation on schedule, bringing us closer to delivering our Pivot pump's game-changing simplicity to patients underserved by current options," said Jeb Besser, CEO. "This further derisks our expected path to Q1 2026 commercialization, which is subject to FDA response to our current 510(k) application, and would put us in position to drive market disruption."