ISRG stock – Tandem (TNDM) Presents Data Backing Control-IQ Technology
Tandem Diabetes Care, Inc. TNDM recently presented data on real-world use of the t:slim X2 insulin pump with Control-IQ advanced hybrid closed-loop technology at the 14th International Conference on Advanced Technologies and Treatments for Diabetes (ATTD). Several presentations, including a plenary session held at the ATTD conference, reported detailed positive outcomes.
This automated insulin delivery system exhibited instant and sustained improvement in Time in Range (TIR) for 9,000 diabetic patients over 12 months. Further, patient-reported outcomes on Control-IQ technology demonstrated reduced diabetes burden and improved sleep quality. This suggests that the Control-IQ technology has the potential to have a positive and sustained impact on the lives of diabetic patients.
A Glance at Tandem’s Presentations
On Jun 3 2021, Tandem presented glycemic trends in people with type 1 diabetes on the basis of their time of adoption of the t:slim X2 insulin pump with Control-IQ technology. Three study sample groups consisting of 6,233 participants with type 1 diabetes were evaluated based on their adoption of the Control-IQ technology within four weeks (Group A), between 3-4 months (Group B) and 5-6 months (Group C) of its launch. Moreover, the study showed significant improvement in sensor TIR in all three groups, irrespective of the time of adoption of the Control-IQ technology.
On Jun 4 2021, the company presented real-world observations from the ongoing Control-IQ Observational study assessing outcomes on the quality of life and glycemic control from the real-world use of t:slim X2 pump with Control-IQ technology in diverse groups of people with type 1 diabetes. In addition to improved glycemic profiles, patient-reported outcomes at baseline and three months after the use of Control-IQ technology exhibited significant reductions in diabetes impact and improved patient satisfaction with Control-IQ technology in comparison to their previous insulin delivery devices.
A plenary session conducted on the same day discussed advances in closed-loop systems. The outcomes from 12 consecutive months of real-world Control-IQ technology use on 1 billion data points showed an overall median TIR of 73.6%.
A corporate symposium discussing user experience and clinical outcomes of the t:slim X2 insulin pump use with Control-IQ technology reported improved night time glycemic control.
Per a report published in PR Newswire, the global automated insulin delivery systems market is expected to see a CAGR of 6.0% by 2027. Factors like rising diabetic population worldwide, technological developments, several research investments in diabetes management, favorable reimbursement policies and rising awareness programs are expected to drive market growth.
Given the huge market potential, favorable data supporting Tandem’s automated insulin delivery system bears strategic prospects.
In its earnings call for first-quarter 2021, the company reported 44% year-over-year growth in worldwide sales, while domestic sales registered a 30% year-over-year surge.
As part of R&D activities, the company informed the recent initialization of participant enrolment for a new study featuring the use of Control-IQ technology in children aged two years and above.
In March 2021, Tandem received an FDA response to its mobile bolus submission filed in the fourth quarter of 2020. The clearance for this highly sought after feature is, however, still in the process.
Share price Performance
The stock has gained 12.8%, underperforming the industry’s 21% rally over the past year.
Zacks Rank and Key Picks
Currently, Tandem carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space include PetIQ, Inc. PETQ, Intuitive Surgical, Inc. ISRG and IDEXX Laboratories, Inc. IDXX.
PetIQ, currently sporting a Zacks Rank #1 (Strong Buy), has a long-term earnings growth rate of 25%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Intuitive Surgical, which presently carries a Zacks Rank #1, has a long-term earnings growth rate of 9.4%.
IDEXX Laboratories, which carries a Zacks Rank #2 (Buy) at present, has a long-term earnings growth rate of 19.6%.
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