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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Nemaura Medical Inc | NASDAQ:NMRD | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.1053 | 0.11 | 0.13 | 0 | 01:00:00 |
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act 1934
Date of Report (Date of earliest event
reported):
(Exact name of registrant as specified in charter)
(State or other jurisdiction of incorporation)
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(Commission File Number) | (IRS Employer Identification No.) |
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(Address of principal executive offices) | (Zip Code) | |
Registrant’s telephone number, including area code: |
+1 | |
N/A (Former name or former address, if changed since last report) | ||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
The |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On July 14, 2023, Nemaura Medical, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal year ended March 31, 2023. A copy of this press release is attached hereto as Exhibit 99.1 and incorporated herein by reference. The information contained in the website is not a part of this current report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
Description | |
99.1 | Press release issued by the registrant on July 14, 2023. | |
104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded with the Inline XBRL document |
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
NEMAURA MEDICAL INC. | ||
By: | /s/ Dewan F. H. Chowdhury | |
Dewan F. H. Chowdhury Chief Executive Officer |
Date: July 14, 2023
Exhibit 99.1
Nemaura Medical Reports Financial Results and Provides Business Update for the Fiscal Year Ended March 31, 2023
Loughborough, England, July 14, 2023 (GLOBE NEWSWIRE) — Nemaura Medical, Inc. (Nasdaq: NMRD) (“Nemaura” or the “Company”), a medical technology company focused on developing and commercializing a daily disposable, wearable glucose sensor and supporting personalized lifestyle coaching programs, today provides a business update and financial results for the fiscal year ended March 31, 2023.
Corporate Highlights:
“We continue to build momentum on both manufacturing activities and consumer feedback through pilot trials, in preparation for scaling up commercial sales activities. The trials with the NHS in the UK have demonstrated the commercial potential for our sensors and digital health and wellbeing programs and has allowed us to undertake continuous refinements prior to commercial scale-up initiatives. Similarly, we believe working with world-class contract manufacturers and advancing our manufacture scale-up, and ensuring a well-managed supply chain through forward planning will support our planned commercial endeavours”, commented Dr Faz Chowdhury, CEO of Nemaura medical. “During the new fiscal year our focus is on global partnerships and revenue ramp-up, leveraging off the progress we have made on the product refinement and feedback, and product manufacture”.
FY2022 Financial Summary:
About Nemaura Medical, Inc.
Nemaura Medical, Inc. is a medical technology company developing and commercializing non-invasive wearable diagnostic devices. The company is currently commercializing sugarBEAT®and proBEAT™. sugarBEAT®, a CE mark approved Class IIb medical device, is a non-invasive and flexible continuous glucose monitor (CGM) providing actionable insights derived from real time glucose measurements and daily glucose trend data, which may help people with diabetes and pre-diabetes to better manage, reverse, and prevent the onset of diabetes. Nemaura has submitted a PMA (Premarket Approval Application) for sugarBEAT® to the U.S. FDA. proBEAT™ combines non-invasive glucose data processed using artificial intelligence and a digital healthcare subscription service and has been launched in the U.S. as a general wellness product as part of its BEAT®diabetes program that is currently undergoing pilot studies.
Additionally, Nemaura has launched a beta trial of Miboko, a metabolic health and well-being program using a non-invasive glucose sensor along with an AI mobile application that helps a user understand how certain foods and lifestyle habits can impact one’s overall metabolic health and well-being. Nemaura believes that up to half the population could benefit from a sensor and program that monitors metabolic health and well-being.
The Company sits at the intersection of the global Type 2 diabetes market that is expected to reach nearly $59 billion by 2025, the $50+ billion pre-diabetic market, and the wearable health-tech sector for weight loss and wellness applications that is estimated to reach $60 billion by 2023.
For more information, please visit www.NemauraMedical.com.
Cautionary Statement Regarding Forward-Looking Statements:
The statements in this press release that are not historical facts may constitute forward-looking statements that are based on current expectations and are subject to risks and uncertainties that could cause actual future results to differ materially from those expressed or implied by such statements. Those risks and uncertainties include, but are not limited to, the launch of proBEAT™ in the U.S., risks related to regulatory status and the failure of future development and preliminary marketing efforts, Nemaura Medical’s ability to secure additional commercial partnering arrangements, risks and uncertainties relating to Nemaura Medical and its partners’ ability to develop, market and sell proBEAT™, the availability of substantial additional equity or debt capital to support its research, development and product commercialization activities, and the success of its research, development, regulatory approval, marketing and distribution plans and strategies, including those plans and strategies related to both proBEAT™ digital health, and sugarBEAT®. There can be no assurance that the company will be able to reach a part of or any of the global market for CGM with its products/services. The U.S. Food and Drug Administration (the “FDA”) reserves the right to re-evaluate its decision that proBEAT™ qualifies as a general wellness product should it become aware of any issues such as skin irritation or other adverse events from the device, as well as any misuse impacting patient safety, and any other reason as the FDA may see fit at its discretion to determine the product does not fit the definition of a general wellness product. These and other risks and uncertainties are identified and described in more detail in Nemaura Medical’s filings with the United States Securities and Exchange Commission, including, without limitation, its Annual Report on Form 10-K for the most recently completed fiscal year, its Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K. Nemaura Medical undertakes no obligation to publicly update or revise any forward-looking statements.
Investor Relations Contact:
IR@NemauraMedical.com
Cover |
Jul. 14, 2023 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Jul. 14, 2023 |
Entity File Number | 001-38355 |
Entity Registrant Name | NEMAURA MEDICAL INC. |
Entity Central Index Key | 0001602078 |
Entity Tax Identification Number | 46-5027260 |
Entity Incorporation, State or Country Code | NV |
Entity Address, Address Line One | 57 West 57th Street |
Entity Address, City or Town | Manhattan |
Entity Address, State or Province | NY |
Entity Address, Postal Zip Code | 10019 |
City Area Code | (646) |
Local Phone Number | 416-8000 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock |
Trading Symbol | NMRD |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
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