Tandem’s New Pint-Sized Insulin Pump

Looking to recover from a relatively lackluster second quarter in terms of meeting its lofty goals for returns, San Diego-based Tandem Diabetes has locked in a multi-quarter-spanning readjustment plan. The company’s second quarter was rendered a disappointment due to a previously set, optimistic 2022 benchmark for estimated revenue despite a 16% uplift from the same period a year prior. Tandem’s leadership recently signaled that its full-year sales forecast has been shifted down to a predicted 19%-20% growth from 2021 for a total that will land somewhere between $835 million and $845 million.

Perhaps seeing nothing but dollar signs, the company took a rollicking start to 2022—with so hot a first quarter that it bumped up its sales estimates to a 23% increase over 2021—and seemingly bit off more than it could chew. Additionally, the devicemaker has reported an operating loss around $12 million and a net loss of just over $15 million. Those numbers weren’t even within sight of red at this point last year.

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While Tandem is citing pandemic pandemonium, heavy U.S. competition, and economic pressures as the trio of factors triggering its fall-off, it still has faith that its products will turn the tide. Its Mobi insulin pump, which is a fraction of the size of the company’s flagship t:slim pump, will be “the first novel form factor launched in our space since we introduced t:slim a decade ago,” as put by Chief Executive Officer John Sheridan. Currently in the final stages of testing, the new pump is expected to earn FDA clearance in early 2023.