Any company in the biotechnology space has a pretty similar goal. Ultimately, these companies aim to create drugs and treatment devices that won’t only make it to the market, but will change the lives of patients and generate profits in the process. For Valeritas Holdings Inc (NASDAQ: VLRX), the medical product of focus is known as the V-Go® Wearable Insulin Delivery Device, and the game has changed surrounding the device in just the last six days.
VLRX Announces Distribution Agreement
As mentioned above, the game started to change for Valeritas Holdings just six days ago. On April 17, 2018, the company issued a press release surrounding the distribution of V-Go® in Australia and New Zealand. According to the press release, the company had signed an agreement with AMSL Diabetes and NZMS Diabetes, who now have the right to promote, market, and sell V-Go® to diabetes patients in Australia and New Zealand. Of course, this greatly expands the audience for VLRX and its V-Go® insulin delivery device. In a statement, John Timberlake, President and CEO at Valeritas, had the following to offer:
We are excited to offer the V-Go® Wearable Insulin Delivery device to patients with type 2 diabetes in Australia and New Zealand, and thrilled to be partnered with AMSL and NZMS Diabetes… Our decision to partner with AMSL and NZMS Diabetes was driven by our goal of choosing the best distributor in Australia and New Zealand.
Expansion Of V-Go® Capabilities
Just days after the announcement that VLRX would be expanding its audience through the distribution agreement above, yet another announcement was released. On Friday, April 20, 2018, the company announced that it has teamed up with Glooko. Glooko is a leading diabetes data management company, and, through the partnership, Valeritas plans to provide future V-Go® SIM users with Glooko’s cloud-based mobile and web diabetes data management platform. This access will assist patients in tracking and analyzing their diabetes care plan and give patients the ability to share key data with their providers. In a statement, John Timberlake, President and CEO at VLRX, had the following to offer:
We are thrilled to be partnering with Glooko and excited to be able to offer Glooko’s market-leading, diabetes data management platform to our customers when we introduce our V-Go SIM technology throughout the U.S. in the first half of 2019,” said John Timberlake, President and Chief Executive Officer of Valeritas. “We believe the combination of our flagship product V-Go, combined with our Bluetooth® technology enabled V-Go SIM and Glooko’s diabetes data management platform will allow adult patients with diabetes and their healthcare providers to optimize each patient’s diabetes management and care plan.
What We’re Seeing From The Stock
Considering all of the positive news that we’ve seen out of Valeritas as of late, it only makes sense that the stock has been doing relatively well in the market. As excitement continues to build, we’re continuing to see massive gains in the value of the stock. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:56), VLRX is trading at $3.61 per share after a gain of $0.49 per share (15.58%) 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 VLRX. In particular, we’re interested in following the company’s continued work to not only expand the audience and sales surrounding its V-Go® product but also to improve the product by adding on enhancements as it has done through the recent agreement with Glooko. Nonetheless, we’ll continue to follow the story and bring the news to you as it breaks!
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