Modular Secures National PBM Contract To Expand Pivot Access

(RTTNews) - Modular Medical, Inc. (MODD), a commercial-stage medical device company focused on insulin delivery technology, announced a contract with a national U.S. pharmacy benefit manager (PBM) for its Pivot insulin delivery system.

Pivot is a wearable, tubeless insulin delivery system designed to provide continuous subcutaneous insulin infusion, with both basal and bolus insulin delivery over a three-day wear period. The system is intended for adults with diabetes and is designed as a simpler alternative to traditional insulin pump systems.

Under the agreement, Pivot is now available through the national PBM. The company said the relationship is expected to broaden patient access to Pivot and support its commercialization efforts.

Pharmacy benefit managers work with health plans, employers, pharmacies and manufacturers to manage prescription drug benefits, including reimbursement and formulary access.

The tubeless, wearable pump recently received FDA clearance for software enhancements that expands bolus dosing flexibility, including the ability to adjust the amount of insulin delivered with each button press.

Jeb Besser, Chief Executive Officer of Modular Medical, said "The relationship positions the company to reach more patients who could benefit from a simpler insulin-delivery solution."

The company is preparing for the commercial launch of Pivot, with the first phase of the rollout planned for October 2026.

Modular shares have traded between $1.72 and $30 over the last year.

MODD closed Friday's trade at $3.68, up 7.60%. In the overnight trading on Monday, the stock was down 5.43% at $3.48.