Modular Medical, a developer of insulin‑delivery patch pumps, received a 180‑day extension from Nasdaq to meet the $1.00 bid‑price rule, extending the compliance deadline to June 29 2026. The extension follows a prior notice that the company had traded below $1 for 30 consecutive business days, which had set a December 29 2025 deadline.
The extension gives the company a defined window to raise its share price or secure additional capital. Management noted that the company’s cash balance is limited and its burn rate remains high, with operating expenses in the $30‑$35 million range and a runway of less than a year without new funding.
Modular’s flagship MODD1 patch pump received FDA clearance in September 2024 and is slated for commercial launch in October 2025. The company also plans to launch its successor, the Pivot pump, in the first quarter of 2026 pending final regulatory approval. Strong product momentum could support a price rally, but the company has yet to generate revenue.
Market reaction to the extension was modestly positive, with the stock rising 3.1% in pre‑market trading on the day of the announcement. Investors view the extension as a temporary reprieve that delays the immediate threat of delisting, but the underlying valuation concerns remain, given the stock’s persistent sub‑$1 trading level.
Analysts and investors will watch the company’s ability to meet the June 29 deadline closely. Failure to achieve a $1.00 bid price for ten consecutive business days could trigger delisting, eroding liquidity and shareholder value. The extension underscores the urgency of a capital raise or a significant share price increase to secure long‑term listing status.
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