Hi Folks,
There's a fairly large gap in the insulin-delivery market that caught my attention.
According to Modular Medical (Nasdaq: MODD), roughly 4.8 million Americans require daily insulin, but only about 20% currently use an insulin pump.
MODD believes there's a sizable group in between.
These are adults who might consider pump therapy but remain on multiple daily injections because of cost, complexity or usability concerns.
The company calls them "almost-pumpers."
And now MODD is taking its Pivot™ insulin pump directly after that market.
Five Markets Come First
Pivot received FDA 510(k) clearance in April, and initial U.S. shipments began in June.
Starting in October, MODD plans to expand into Atlanta, Cincinnati/Lexington, Dallas, Houston and Philadelphia.
I think the focused rollout is worth watching.
Rather than trying to tackle the entire country at once, these five markets should give MODD an opportunity to build physician relationships, reach patients and begin demonstrating whether Pivot can gain commercial traction.
Management estimates the addressable market it's pursuing at approximately $3B.
Pivot was designed specifically for this population, with a tubeless system intended to be easier to learn, use and afford.
There's also considerable insulin-delivery experience behind the product. MODD founder Paul DiPerna previously founded the company that became Tandem Diabetes Care, which reported more than $1B in 2025 revenue.
The Story Has Moved Quickly
The five-market rollout isn't the only development I'm following.
In September, the FDA cleared additional Pivot software features, including customizable bolus dosing and an updated interface.
MODD also announced an agreement with a major national pharmacy benefit manager, giving Pivot access through an established benefits channel.
Beyond Pivot, the company is working with Nudge BG on automated insulin delivery while exploring its MODD1 platform for personalized GLP-1 therapy.
None of that guarantees commercial adoption. That's still the part MODD has to prove.
But the pieces are starting to come together: an FDA-cleared product, initial shipments, five target markets and a defined patient population MODD believes represents a $3B opportunity.
That's enough to keep MODD on my radar as the rollout progresses.
Pull up MODD on your trading screen and take a closer look.
To your success,
Michael Reece
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