Nemaura Medical Inc (NASDAQ: NMRD) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced interim clinical data that proved to be exciting news for investors. Today, we’ll talk about:
- The clinical data;
- what we’re seeing from NMRD; and
- what we’ll be watching for with regard to the stock ahead.
NMRD Announces Positive Clinical Data
As mentioned above, Nemaura Medical is flying in the market early this morning after the comapny announced interim clinical data. In a press release issued early this morning, the company reported data from an interim analysis of the first of a number of planned studies planned to support the regulatory approval of sugarBEAT®.
In the release, NMRD said that the results consisted of data from 25 patients, split approximately equally between Type I and Type II diabetics. The study was conducted in a clinical setting where blood samples were taken via catheter every 15 minutes over a 12 hour period for 3 non-consecutive days.
The company said that 9,371 data points were analyzed in total. The data was made up of 4,630 and 4,741 paired data points analysed using 1-point and 2-point calibration. NMRD said that the Mean Absolute Relative Deviation (MARD) for the 1-point calibration was 12.19%. For the 2-point calibration, the MARD came in at 10.65%. These results proved to be in line with the company’s expectations and compared favorably to competitor products.
In the release, NMRD said that completion of the US clinical study and FDA submission for SugarBEAT is expected in the first quarter of 2019.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. In the case of Nemaura Medical, the news proved to be overwhelmingly positive. Interim analysis showed that SugarBEAT may be superior to currently approved competitors and supports the submission of an NDA with the FDA in early 2019. So, it comes as no surprise to see that excited investors are sending the stock screaming for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (11:14), NMRD is trading at $3.37 per share after a gain of $1.21 per share or 56.32% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on NMRD. In particular, we’re interested in following the story surrounding the company’s continued work to bring SugarBEAT to market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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