Nemaura Medical (NASDAQ: NMRD) recently announced its Q3 FY 2022 results for the three months ended Dec. 31, 2021. The company reported revenues of $183,628 due to the initial shipments made over the past quarter of sugarBEAT(R) CGM devices to MySugarWatch, the company’s U.K. licensee. The order marked the inaugural revenues in Nemaura Medical’s history, with the company rapidly moving toward monetizing its recent product launches. “The December quarter marked a milestone for Nemaura, as we officially entered the commercialization phase of our corporate development and recognized revenues for the first time in our history,” a recent article quotes Nemaura CEO Dr. Faz Chowdhury as saying. Nemaura Medical’s recent earnings announcement comes amidst a period of solid growth for the company over the past few months. The company recently appointed Dr. Arash Ghadar as chief operating officer. Nemaura Medical also formally launched its Miboko product line, a service that uses a non-invasive glucose sensor to measure and monitor users’ blood sugar levels based on glucose tolerance or insulin resistance. “With the recent launch of Miboko, our new metabolic health program, we now have a second product from our platform of non-invasive microsystem technology, which we believe will have broad appeal,” stated Dr. Chowdhury.
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About Nemaura Medical Inc.
Nemaura is a medical technology company developing and commercializing non-invasive wearable diagnostic devices. The company is currently commercializing sugarBEAT(R) and proBEAT(TM). sugarBEAT, a CE mark approved Class IIb medical device, is a non-invasive and flexible continuous glucose monitor (“CGM”) providing actionable insights derived from real time glucose measurements and daily glucose trend data, which may help people with diabetes and pre-diabetes to better manage, reverse, and prevent the onset of diabetes. Nemaura has submitted a PMA (Premarket Approval Application) for sugarBEAT to the U.S. FDA. proBEAT combines non-invasive glucose data processed using artificial intelligence and a digital healthcare subscription service and has been launched in the U.S. as a general wellness product as part of its BEAT diabetes program that is currently undergoing pilot studies. Additionally, Nemaura has launched Miboko, a new program using a non-invasive glucose sensor along with an AI mobile application that helps a user understand how certain foods and lifestyle habits can impact one’s overall metabolic health and well-being. Nemaura believes that up to half the population could benefit from a sensor and program that monitors metabolic health and well-being. The company sits at the intersection of the global type 2 diabetes market that is expected to reach nearly $59 billion by 2025, the $50+ billion pre-diabetic market, and the wearable health-tech sector for weight loss and wellness applications that is estimated to reach $60 billion by 2023. For more information, please visit www.NemauraMedical.com.
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