Why Are Tandem Diabetes Shares Gaining Today?

Tandem Diabetes Care Inc TNDM shares are trading higher after the company received FDA approval for the Tandem Mobi insulin pump for people with diabetes age 6 and up, expanding the company's portfolio of products. 

The Tandem Mobi is fully controllable from a mobile app and is the world's smallest durable automated insulin delivery system.

The Tandem Mobi features a 200-unit insulin cartridge and an on-pump button that provides an alternative option to phone control for bolusing insulin. 

Multiple Wear Options – Less than half the size of the t:slim X2 pump, Tandem Mobi can fit in a coin pocket, be clipped to clothing, or be worn on-body with an adhesive sleeve (sold separately).

Detachable Infusion Sets – Compatible with all existing Tandem-branded infusion sets manufactured by the Convatec Group, including a new five-inch tubing option for Tandem Mobi. 

Infusion sets allow users to temporarily disconnect from their pump for convenience and provide the flexibility of more than 30 mix-and-match infusion site and tubing length combinations.

AID Compatibility – Designed for use as part of an automated insulin delivery (AID) system, the Tandem Mobi features Control-IQ technology.

Mobile App Control – Full iOS mobile control through a user's compatible iPhone

A limited release of Tandem Mobi is expected to start in late 2023, with full commercial availability planned in early 2024.

Price Action: TNDM shares are up 12.3% at $27.99 on the last check Tuesday.