Nemaura Medical Inc. - Common Stock (NMRD)

Nemaura Medical (NASDAQNMRD), a developer of a daily-wear, noninvasive glucose sensor and digital healthcare programs, is reporting on decisions that will impact its listing status on the NASDAQ Capital Market; the company also released key information regarding its broader strategic direction. According to the announcement, the company’s management team and medical board of directors has carefully evaluated NASDAQ’s action to delist Nemaura Medical and will accept that decision and move to the OTC markets. The company noted that several factors were considered in reaching this decision, including challenges outside of the company’s control that have led to a significant attrition of company share price. The announcement also noted that Nemaura is actively pursuing strategic partnerships critical to driving Nemaura Medical’s growth and creating shareholder value. The company noted that it will provide regular updates on any progress, strategic partnerships and material developments impacting shareholders and will continue to file reports with the U.S. Securities & Exchange Commission.

Nemaura (NASDAQNMRD), developer of a daily wear non-invasive glucose sensor and digital health care programs, today announced that the Nasdaq Hearings Panel granted the company’s request for continued listing pursuant to an exception, including certain interim milestones, that ultimately expires on April 1, 2024, to evidence compliance with all applicable criteria for continued listing on the Nasdaq Capital Market. Nemaura intends to continue with its commercial endeavors while pursuing its plans to ensure timely compliance with the terms of the Nasdaq Hearings Panel’s decision.

Nemaura (NASDAQNMRD), developer of a daily wear non-invasive glucose sensor and digital health care programs, today announced the execution of a strategic agreement for a $10 million credit facility, which is expected to support the company’s strategic growth plans. Nemaura recognizes the challenges associated with equity sales, particularly in the small-cap landscape on the Nasdaq, and has proactively pursued a funding strategy that minimizes dilution, which the Company believes aligns with the best interests of its valued shareholders. The $10 million credit facility, structured to be non-dilutive, empowers Nemaura to draw down a maximum of $1 million per month, providing a steady and controlled infusion of capital to support its commercialization initiatives.

Nemaura Medical (NASDAQNMRD), a medical technology company focused on developing and commercializing a daily disposable, wearable glucose sensor and supporting personalized lifestyle coaching programs, is reporting on its financial and business results for the quarter ended Sept. 30, 2023, and providing a business update. Corporate highlights of the report show continued support of its United Kingdom licensee, including efforts to obtain reimbursement for sensors in the area; advanced development of the BEAT diabetes offering; development of NMRD’s consumer metabolic health platform, including possible deployment as a bolt-on service into existing metabolic and wellness programs or to support a direct-to-consumer offering; approval from the Saudi Arabia Food and Drug Agency for marketing of sugarBEAT in the Kingdom of Saudi Arabia (KSA); and continued trials of the company’s prediabetes and consumer metabolic health program with the UK National Health Service. Financial highlights include R&D expenses of $491,803 and $257,061 for the three months ended Sept. 30, 2023 and 2022, respectively; general and administrative expenses totaling $1,558,742 and $1,369,155 for same two periods; net loss coming in at $1,203,454 and $3,855,700 for the three months ended Sept. 30, 2023 and 2022, respectively; and cash and cash equivalents totaling approximately $4.4 million.

NEW YORK, NY / ACCESSWIRE / November 14, 2023 / Sidoti Events, LLC, an affiliate of Sidoti & Company, LLC, has released the presentation schedule and weblinks for its two-day November Micro-Cap Conference taking place Wednesday and Thursday, November 15-16, 2023. The presentation schedule is subject to change. Please visit www.sidoti.com/events for the most updated version and webinar links.

Nemaura Medical (NASDAQNMRD), a medical technology company focused on developing and commercializing a daily disposable, wearable glucose sensor and supporting personalized lifestyle coaching programs, has appointed artificial intelligence (“AI”) specialist Nikolai Rozanov as strategic adviser in the company’s AI development. According to the announcement, Rozanov will assist in development of Nemaura’s AI health coach and strengthen outcomes in its CGM-based metabolic and type 2 diabetes programs. Rozanov has been recognized by Forbes magazine in its prestigious “30 Under 30” ranking. His appointment solidifies Nemaura’s expertise in the growing AI sector at a time when AI developments in healthcare are gathering pace and put the company in an ideal position to further integrate data from its CGM to create tailored programs that can make tailored personalized recommendations. “We are excited to be working with Nikolai to leverage our CGM data to give better insights to members,” said Nemaura Medical CEO Dr. Faz Chowdhury in the press release. “The use of AI-based models is becoming more widespread, and we believe they have a vital role to play in the healthcare and lifestyle sector. Deeper personalized insights better engage users, and the capability of AI means this can be scaled efficiently.”

Nemaura (NASDAQNMRD) is a medical technology company focused on developing and commercializing non-invasive wearable diagnostic devices and supporting personalized lifestyle coaching programs. The company today announced that its CEO Dr. Faz Chowdhury will present business updates and developments at the Maxim Group Emerging Growth in A.I. virtual conference. Dr. Chowdhury’s presentation is scheduled to begin at 11 a.m. ET on Sept. 27, 2023. Interested parties should visit https://ibn.fm/nJxPW to register for the event.

Nemaura (NASDAQNMRD), a medical technology company focused on developing and commercializing non-invasive wearable diagnostic devices and supporting personalized lifestyle coaching programs, today provided an update regarding the status of its compliance with continued listed standards and anticipated next steps to maintain its listing on the Nasdaq Capital Market. As previously announced, Nemaura was notified by letters dated April 3 and April 7, 2023, that the company no longer satisfied the minimum market value of listed securities and bid price requirements for continued listing on The Nasdaq Capital Market and, accordingly, was granted 180-day grace periods to regain compliance with those requirements, through Oct. 2 and Oct. 3, 2023, respectively. The company currently does not expect to regain compliance with the referenced listing criteria prior to the expiration of the applicable grace periods and, as a result, anticipates receipt of a delisting determination from the Nasdaq staff promptly following the expiration of the grace periods. Importantly, however, upon receipt of such determination, the company may request a hearing before a Nasdaq hearings panel to address the listing deficiencies, which request will stay any suspension or delisting action by Nasdaq at least until a hearing is held and any extension that may be granted by the panel to the company following the hearing has expired. The company plans to timely request such hearing and is considering all options available to regain compliance and maintain its listing on the Nasdaq Capital Market. “We are hopeful that there will be a positive outcome from a hearing before the panel,” said Dr Faz Chowdhury, the company’s chief executive officer. “In the meantime, we continue to focus on our business, including a planned product launch in Saudi Arabia following the SFDA (Saudi Arabia Food and Drug Authority) approval, and the expected commercial deployment of our consumer health offering following encouraging results from our trials with the UK NHS (National Health Service).”

Nemaura (NASDAQNMRD), a medical technology company focused on developing and commercializing non-invasive wearable diagnostic devices and supporting personalized lifestyle coaching programs, today provided an update regarding the status of its compliance with continued listed standards and anticipated next steps to maintain its listing on the Nasdaq Capital Market. As previously announced, Nemaura was notified by letters dated April 3 and April 7, 2023, that the company no longer satisfied the minimum market value of listed securities and bid price requirements for continued listing on The Nasdaq Capital Market and, accordingly, was granted 180-day grace periods to regain compliance with those requirements, through Oct. 2 and Oct. 3, 2023, respectively. The company currently does not expect to regain compliance with the referenced listing criteria prior to the expiration of the applicable grace periods and, as a result, anticipates receipt of a delisting determination from the Nasdaq staff promptly following the expiration of the grace periods. Importantly, however, upon receipt of such determination, the company may request a hearing before a Nasdaq hearings panel to address the listing deficiencies, which request will stay any suspension or delisting action by Nasdaq at least until a hearing is held and any extension that may be granted by the panel to the company following the hearing has expired. The company plans to timely request such hearing and is considering all options available to regain compliance and maintain its listing on the Nasdaq Capital Market. “We are hopeful that there will be a positive outcome from a hearing before the panel,” said Dr Faz Chowdhury, the company’s chief executive officer. “In the meantime, we continue to focus on our business, including a planned product launch in Saudi Arabia following the SFDA (Saudi Arabia Food and Drug Authority) approval, and the expected commercial deployment of our consumer health offering following encouraging results from our trials with the UK NHS (National Health Service).”

Nemaura (NASDAQNMRD), a medical technology company focused on developing and commercializing non-invasive wearable diagnostic devices and supporting personalized lifestyle coaching programs, today announced interim results from its metabolic health program. According to the update, the primary objective of the study was to establish whether a metabolic program with a daily wear CGM worn twice a month resulted in greater engagement levels and sustainable weight reduction, and how this compared to other programs. Run in collaboration with the UK’s National Health Service, the program, known as Miboko (Mind, Body, Konnect), is the first to integrate a daily-wear and non-invasive glucose sensor with the company’s bespoke app, educational content and AI driven analytics platform. Users were invited to participate by their primary care practice, based on a BMI over 25. Participants used the Miboko app and were provided access to relevant education modules relating to aspects of metabolic health and weight loss. Diet and lifestyle were entered daily into the app, and weight was recorded weekly. Every two weeks, users wore the daily wear continuous glucose sensor, which tracked and displayed real-time glucose. The study tracked 83 participants, with a mean age of 54 years old. The cohort was made up of 67% female and 33% male participants, with 88% recording their ethnicity as “White.” After 20 weeks of enrolment, 59 participants (16M/43F) had recorded weight loss, with 21 participants losing over 5KG (11 pounds). On an average basis, weight loss was 2.9KG (6.3 pounds) (1.9M/3.2F), with the rate of change increasing after week eight.

Nemaura (NASDAQNMRD) is a medical technology company focused on developing and commercializing non-invasive wearable diagnostic devices and supporting diabetes management and personalized lifestyle coaching programs. The company today announced that it will be participating at the HLTH 2023 conference, which is taking place in Las Vegas in October. The company’s attendance is in response to several inquiries from existing diabetes and metabolic health program providers, to integrate the daily wear Continuous Glucose Monitor (“CGM”) into existing diabetes care, metabolic health and weight-loss programs. Nemaura believes that its proprietary technology can serve as a powerful complement to program providers, empowering users with access to personalized data, insights and guidance based on their body’s response to glucose intake. The expected result is for users to be able to have conversations with their existing program provider on a broad range of health and weight-loss topics, including asking for tailored meal plans, recipes, exercise routines, stress management techniques, and motivational insights.

Nemaura (NASDAQNMRD) is a medical technology company focused on developing and commercializing non-invasive wearable sensors and supporting personalized diabetes management and metabolic health programs. The company today announced its recent completion of a 100-patient study across four cohorts of 25 diabetic patients for sugarBEAT(R) and provided interim results. Nemaura previously received CE approval in Europe and SFDA (Saudi Food and Drug Authority) approval for its sugarBEAT glucose sensor for a wear period of 14 hours. This study was designed to evaluate several factors, including the potential to increase the wear period to up to 24 hours, evaluating the possibility of auto-calibration, and different methods of application of the device to the skin. The results indicate that a 24-hour sensor wear period using a single sensor is possible, which is expected to allow users to monitor their glucose fluctuations overnight. The company is further evaluating the remaining cohorts and variables with a view to establish the extent to which auto-calibration may be feasible, as well as to determine the optimal sensor application method. Nemaura intends to publish findings of the study in upcoming conferences and to use the data to supplement product registration applications for an increased sensor wear period of up to 24 hours for a second-generation sensor as it progresses commercialization of the 14-hour wear sensor.

Nemaura (NASDAQNMRD), a medical technology company focused on developing and commercializing a daily disposable, wearable glucose sensor and supporting personalized lifestyle coaching programs, today announced SFDA (Saudi Food and Drug Authority) approval of sugarBEAT(R), its non-invasive wearable glucose sensor. According to the update, the news comes after a year of liaisons with the SFDA through TPMENA, the company’s licensee in the Middle East. This is seen as a major breakthrough in product commercialization in the largest territory in the Middle East, and a region with one of the world’s highest diabetes prevalence rates. Based on a report in 2021 by the Economist Intelligence Unit, nearly 4.5 million people, or 18.3% of the adult population in Saudi Arabia, have diabetes. This compares to a global average of 9.3%. Further, it is estimated that 39% of adults with diabetes in Saudi Arabia are unaware that they have the condition, leaving them at higher risk of complications without management. This segment of nearly 9 million is ideally placed to benefit from sugarBEAT(R) sensors within a general metabolic health improvement program. Such a program specifically addresses obesity to avoid diabetes and other complications and has shown efficacy within trials with the U.K.’s National Health Service.

Nemaura Medical (NASDAQNMRD), a medical technology company focused on developing and commercializing a daily disposable, wearable glucose sensor and supporting personalized lifestyle coaching programs, is reporting its financial and business results for the quarter ended June 30, 2023. Corporate highlights of the report include initial patient data from UK National Health Service (“NHS”) Miboko Study that indicates weight loss in 100% of participants; sustained development of its proprietary consumer metabolic health platform along with possible deployment as a bolt-on service into existing metabolic and wellness programs; ongoing collaboration with Benchmark Electronics Inc. as a contract manufacturing partner (“CMO”) in developing the manufacture of its proprietary electronic transmitter in anticipation of commercial-sales ramp-up; continued support of its United Kingdom licensee with its application for reimbursement of sensors in the UK; and consistent funding along with the closing of a $6.5 million nondilutive funding in the form of clean debt without any warrants or convertible elements. Financial highlights include R&D expenses totaling $549,012 for the three months ended June 30, 2023; general and administrative expenses reported at $1,508,467 for period ended June 30, 2023; and cash and cash equivalents totaling approximately $4 million for the same period.

Nemaura Medical (NASDAQNMRD), a medical technology company focused on commercializing a daily disposable wearable glucose sensor and supporting personalized digital coaching programs, has secured an additional $6.5 million in nondilutive funding. The company announced the funding was secured through a clean debt facility with no warrants or convertible elements from an existing lender. In addition, the company noted that it recently participated in the American Diabetes Association meeting, the world’s largest gathering of diabetes professionals. The company demonstrated product at the event, receiving “very encouraging feedback” from attendees including corporate officials, diabetes service providers and clinicians. “The company is also currently undertaking studies with the National Health Service (‘NHS’) in the UK with its metabolic health program designed for the consumer market targeting obesity and prediabetes whilst refining its commercial offering in this space,” the announcement stated. “Nemaura also continues to support its UK licensee with its application for reimbursement of sugarBEAT(R) in the UK.”

Nemaura Medical (NASDAQNMRD), a medical technology company focused on developing and commercializing a daily disposable, wearable glucose sensor and supporting personalized lifestyle coaching programs, is reporting its financial results for the fiscal year ended March 31, 2023. The report showed R&D expenses totaled an estimated $1.5 million, which was consistent with the prior year; general and administrative expenses came in at $6,590,227 for the year; and cash and cash equivalents totaled approximately $10.1 million on March 31, 2023. The report also noted corporate highlights, which included a registered direct offering and concurrent private placement resulting in approximately $8.4 million in gross proceeds; the signing of a preliminary agreement with Eversana to support a planned commercial launch of its diabetes and metabolic health programs in United States; the announcement of initial patient data from the UK’s National Health Service Miboko Study that demonstrates weight loss in 100% of participants, with further studies ongoing; and continued collaboration with Benchmark Electronics Inc. In addition, the company completed phased delivery of transmitters for the December 2021 purchase order from MSW and received a provisional purchase order for 1.7 million sensors in anticipation of product registration in the KSA. “We continue to build momentum on both manufacturing activities and consumer feedback through pilot trials, in preparation for scaling up commercial sales activities,” said Nemaura Medical CEO Dr. Faz Chowdhury in the press release. “The trials with the NHS in the UK have demonstrated the commercial potential for our sensors and digital health and well-being programs and has allowed us to undertake continuous refinements prior to commercial scale-up initiatives. Similarly, we believe working with world-class contract manufacturers and advancing our manufacture scale-up, and ensuring a well-managed supply chain through forward planning will support our planned commercial endeavors. During the new fiscal year, our focus is on global partnerships and revenue ramp-up, leveraging off the progress we have made on the product refinement and feedback, and product manufacture.”

Nemaura (NASDAQNMRD), a medical technology company focused on non-invasive wearable sensors and personalized weight reduction programs, today announced the next commercialization stage of its proBEAT(TM) sensor and AI-based feedback platform, augmenting the BEAT(TM) diabetes program. Intended as a precursor to revenue-generating contracts for proBEAT, the pilots will commence over the coming weeks and months. “The expansion of the BEAT diabetes program into employers and insurers in the U.S. represents significant progress towards bringing more innovative diabetes care solutions to our target markets,” said Nemaura’s CEO Dr. Faz Chowdhury. “Importantly to Nemaura, this is a big step toward revenue generation with our proBEAT platform, and we aim to continue the momentum over the coming months and years. We spent a vast amount of time and resources optimizing and scaling our sensor manufacturing processes and it’s extremely fulfilling for the team to see their hard work come to fruition through these developments, bringing cost-effective solutions to the market.”

Nemaura (NASDAQNMRD), a medical technology company focused on non-invasive wearable sensors and personalized weight reduction programs, today announced that it will be participating at the upcoming Collision Conference. The event, being held at the Enercare Centre in Toronto, Canada, on June 26-29, 2023, brings together leading technology companies and an expected 40,000 attendees and top media representatives. Nemaura will present live demonstrations of its wearable daily non-invasive glucose sensor as well as host one-on-one meetings with investors and media at the conference.

Nemaura (NASDAQNMRD) is a medical technology company focused on developing and commercializing non-invasive wearable sensors and supporting personalized diabetes management and metabolic health programs. The company today announced that it will exhibit and provide product demonstrations of its non-invasive daily-wear glucose sensor platform at the 83rd Scientific Sessions of the American Diabetes Association. The meeting is slated to take place in San Diego on June 23-26, 2023. “We are truly honored to be participating in the world’s premier diabetes education event, and we look forward to sharing our technology and its potential for helping people better understand and track their glucose fluctuations in the hopes of better managing, reversing or preventing the onset of type 2 diabetes,” said Nemaura CEO Faz Chowdhury, Ph.D.

Nemaura Medical (NASDAQNMRD) CEO DR. Faz Chowdhury will be participating in a fireside chat hosted by EF Hutton research analyst Constantine Davides. The medical technology company, which is focused on developing and commercializing noninvasive wearable diagnostic devices and supporting personalized lifestyle and weight reduction programs, announced that the executive will be involved in the chat, which is scheduled to begin at 10 a.m. ET on March 29, 2023. The fireside event will cover a range of topics and “will likely include Nemaura’s unique glucose monitoring device and its complementary digital health solutions, the company’s commercial strategy and channel partnerships, early Miboko patient data from its UK pilot program and the regulatory progress with the FDA,” stated the announcement.

Nemaura Medical (NASDAQNMRD), a medical technology company focused on developing and commercializing noninvasive wearable diagnostic devices and supporting personalized lifestyle and weight reduction programs, has added insulin onto the list of drugs under the DuoPack Commercial License Agreement with its licensee, MySugarWatch DuoPack Limited (“MSWDL”). Last September, Nemaura and MSWDL announced a commercial agreement making NMRD’s non-invasive wearable skin patch sensors available as a MySugarWatch-branded DuoPack. The sensors were paired with widely used type 2 diabetes prescription-only medicines as allowed by patent expiry. According to the agreement, the two products — sensors and medication — offered what the companies called a “one-stop shop.” In addition, the offering was supported by MSWDL nurses and nutritionists. Today’s announcement outlines the two companies’ expanded agreement to include injectable insulin for the European market as part of this agreement. “The inclusion of insulin in our agreement with MSWDL means patients with type 2 diabetes will have access to a CGM-guided insulin dose titration care model that is designed to reduce hypoglycemic episodes and hospital admissions while improving long-term outcomes,” said Nemaura CEO Dr. Faz Chowdhury in the press release. “Moreover, it uniquely avoids a potentially bruised, slow-to-heal, infection-prone, needle-induced skin puncture wound in older patients at the site of a CGM sensor skin application. We are eager to provide potential improvements in monitoring and lifestyle for the millions of type 2 diabetes patients globally.”

Nemaura (NASDAQNMRD) is a medical technology company focused on developing and commercializing noninvasive wearable sensors and supporting personalized lifestyle and weight reduction programs. The company today released its financial results for the quarter ending Dec. 31, 2022, and provided a business update. “We continue to build momentum with our U.K. programs, while initiating our foothold in the U.S. The recent purchase order from HealthFleet marks the beginning of our commercialization efforts in the U.S., integrating our proBEAT technology into HealthFleet’s RestoreHealth program to potentially improve diabetes management and weight loss. This is a significant step forward towards the integration of our sensor technology into existing diabetes management programs in the U.S.,” said Nemaura CEO Dr. Faz Chowdhury. “With Miboko, the encouraging early patient data from our U.K. NHS Miboko study that demonstrated weight loss in 100% of participants is very encouraging and bodes well for the future of that program. There are obviously many weight loss programs on the market, but this early Miboko data exceeds the results seen in some of these other programs. With our balance sheet strengthened by the recent capital raise, we are better positioned to execute on our commercialization efforts and strategic goals in 2023.”

Nemaura (NASDAQNMRD) is a medical technology company focused on developing and commercializing non-invasive wearable sensors and supporting personalized lifestyle and weight reduction programs. The company today announced that its CEO Dr. Faz Chowdhury will participate in a fireside chat at the MicroCap Rodeo Winter Wonderland Best Ideas 2023 Conference that is being held virtually on Feb. 21 – 24, 2023. The fireside chat is slated to begin at 8:30 a.m. on Feb 22. Interested parties should visit https://ibn.fm/urrc1 to register for and access the webcast. Dr. Chowdhury will also be available for one-on-one investor meetings throughout the conference.

Nemaura Medical (NASDAQNMRD) is a medical technology company developing and commercializing non-invasive wearable diagnostic devices. The company is currently commercializing sugarBEAT(R) and proBEAT(TM). sugarBEAT(R), 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(R) to the U.S. FDA. proBEAT(TM) 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(R) diabetes program that is currently undergoing pilot studies.

Nemaura (NASDAQNMRD) is a medical technology company focused on developing and commercializing non-invasive wearable sensors and supporting personalized lifestyle and weight reduction programs. The company today announced the close of its registered direct offering with two health care-focused U.S. institutional investors to sell 4,796,206 shares of its common stock and warrants to purchase up to 4,796,206 shares in a concurrent private placement. Nemaura secured approximately $8.4 million in aggregate gross proceeds from the offering and concurrent private placement and intends to use the net proceeds for working capital and general corporate purposes. EF Hutton, division of Benchmark Investments LLC, acted as sole placement agent for the offering. Anthony L.G. PLLC acted as legal counsel to Nemaura and Sichenzia Ross Ference LLP acted as legal counsel to EF Hutton.