What's Going On With Trinity Biotech Shares Tuesday?

Trinity Biotech Plc TRIB stock is trading higher on Tuesday after the company announced results from its pre-pivotal clinical trial for its continuous glucose monitoring (CGM) system.

The Details: The trial results indicated a 25% to 30% improvement in accuracy over earlier CGM sensors and revealed improvements in clarity compared to previous models.

The pre-pivotal clinical trial involved 30 participants, most of whom had Type 1. The trial evaluated modifications made by Trinity’s Research and Development team to the sensor technology acquired from Waveform Technologies, Inc.

“We believe that our patented technology—featuring a modular, eco-friendly design and cutting-edge sensor performance—represents a paradigm shift in the CGM market, which is projected to exceed $20 billion by 2029. We are developing a CGM system that is not only highly accurate but also disruptively affordable and user-friendly,” said John Gillard, CEO of Trinity Biotech.

The company plans to complete clinical trials on device improvements and aims for regulatory approval in the European Union by 2025 and the United States by 2026.

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TRIB Price Action: At the time of writing, Trinity shares are trading 55.4% higher at $1.185, according to data from Benzinga Pro.

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