Nemaura Medical Inc. (NASDAQ: NMRD) has disclosed Wednesday the receipt of a buying order for 5,000 sugarBEAT transmitters and 200,000 sugarBEAT sensors from its U.K. licensee, DB Ethitronix Ltd. The firm has also disclosed an extra progressing monthly acquisition order estimate for the next 24 months of 15,000 transmitters and 2.1 million sensors, with an opportunity to increase volumes based on customer response.
This order tracking positive reaction from DB Ethitronix’s soft unveiling of the sugarBEAT non-invasive glucose monitoring (CGM) device in the U.K. DB Ethitronix has founded a subscription service for diabetes management backed by the sugarBEAT technology.
Shares of Nemaura skyrocketed 41.91% as it gained +1.97 during the trading session of Wednesday. The firm has recorded a trading volume of 6.35 million as compared to the average volume of 225.45K. In the past 52-weeks of the trading session, the share of the firm wavered between the 52-week low and high range of $3.12 and $16.50, respectively. The firm has a total market capitalization of $106.22 million at the time of writing.
The positive reaction of the users from sugarBEAT is because it has gained a reputation as the daily-wear glucose monitoring device all around the world. Moreover, this device also allows users the flexibility to track their glucose levels as per their schedule, which leads to reduced costs to the end-user.