Modular Medical
San Diego, California, United States · Healthcare, Information Technology
Modular Medical, Inc. (Nasdaq: MODD) is a medical device company that intends to launch the next generation of insulin delivery technology. Using its patented technologies, the Company seeks to eliminate the tradeoff between complexity and efficacy, thereby making top quality insulin delivery both affordable and simple to learn. Its mission is to improve access to the highest standard of glycemic
Key facts
- Headquarters
- San Diego, California, United States
- Employees
- 44
- Industries
- Healthcare, Information Technology
- Status
- Public (MODD)
- Website
- www.modularmedical.com
- Company page
Recent activity at Modular Medical
- : SEC 8-K (5.02): On October 26, 2026, Duane DeSisto resigned from the board of directors of Modular Medical, Inc. effective immediately. His resignation was not due to any disagreement regarding the Company’s operations, policies, or practices. The event follows the Company's annual shareholder meeting on October 23, 2026, where key votes were cast on various proposals, including the election of directors, which included Mr. DeSisto. This board change may impact future governance and strategic direction as Modular Medical navigates its operations post-resignation.
- : SEC 8-K (5.02):
- : SEC 8-K (5.02):
- : SEC 8-K (1.01): On April 19, 2026, Modular Medical, Inc. entered into a Placement Agency Agreement with Maxim Group LLC for a registered direct offering of 750,000 shares of the Company's common stock, expected to yield approximately $3.375 million in gross proceeds. The offering is scheduled to close on April 21, 2026, and includes terms for a 7% placement agent fee and up to $75,000 in expense reimbursement. All directors and executive officers have agreed to a 90-day lock-up period on the sale of their securities. Additionally, the Company is restricted from issuing any new shares for 45 days post-closing, ensuring stability post-offering.
- : SEC 8-K (8.01): On April 15, 2026, Modular Medical, Inc. received a notification letter from the Nasdaq Stock Market confirming that the Company had regained compliance with the Minimum Bid Price Requirement under Nasdaq Listing Rule 5550(a)(2). This compliance means that the Company is no longer at risk of being delisted due to its stock price falling below the minimum threshold. The press release issued on April 16, 2026, is part of their communication strategy to inform stakeholders about this important compliance status. This is a significant development as it helps reassure investors and may positively impact the Company's stock performance moving forward.
- : SEC 8-K (8.01):
- : SEC 8-K (8.01): On March 12, 2026, Modular Medical, Inc. implemented employee lay-offs, eliminating 20 positions, which constitutes approximately 29% of its workforce. This action, referred to as the 'Reductions,' aims to lower the Company's operating expenses and cash burn, prioritizing projects with a higher return on investment. The expected annual savings from these reductions is approximately $3.4 million, with non-recurring charges estimated between $0.1 million to $0.2 million mainly for severance payments, anticipated to affect the quarter ending June 30, 2026. These projections may vary significantly based on underlying assumptions.
- : SEC 8-K (1.01): On March 3, 2026, Modular Medical, Inc. entered into a placement agency agreement with Maxim Group LLC and securities purchase agreements with multiple investors for a best-efforts offering. This offering included 62,098,000 shares of common stock, pre-funded warrants for 6,000,000 shares, and accompanying warrants for 68,098,000 shares, generating approximately $12 million in gross proceeds. The offering closed on March 4, 2026, with a public offering price of $0.1762 per share. Key terms include a 7% fee to the placement agent and restrictions on warrant exercises to prevent holders from owning more than 4.99% of the company's outstanding stock post-exercise.
- : SEC 8-K (1.01): On February 23, 2026, Modular Medical, Inc. entered into a material definitive agreement by issuing a secured promissory note to its chief executive officer, James E. Besser, which provides for a $350,000 revolving credit facility. The principal amount is due by March 25, 2026, with interest payable at a rate of 12% on each draw down. The company can draw amounts as needed, with conditions outlined for events of default and repayment, including the possibility of securing funds from equity financing exceeding $2,000,000. This agreement significantly impacts the company's liquidity options for future operations.
- : SEC 8-K (3.03): On January 23, 2026, Modular Medical, Inc. executed a certificate of amendment to its Amended and Restated Articles of Incorporation, increasing its authorized shares of common stock from 100,000,000 to 250,000,000. This amendment was approved by shareholders during the Company's fiscal 2026 annual meeting, also held on January 23, 2026. The change allows the company greater flexibility in capital management and planning, indicating a proactive approach to potential future fundraising efforts or stock issuances. The implications of this increase may include future capital raising through stock offerings to support organizational growth.
Modular Medical funding history
| Date | Round | Amount |
|---|---|---|
| Dec 2025 | Post-IPO Equity | $4.7M |
| Apr 2025 | Venture | $12.0M |
| Feb 2021 | Venture | $1.1M |
| Mar 2020 | Venture | Undisclosed |
| Apr 2019 | Venture | $4.2M |
Leadership
- Paul DiPerna, Executive Officer, Director
- Morgan Frank, Director
- Liam Burns, Director
- William Febbo, Director
- Carmen Volkart, Director
- Steven Felsher, Director
Verified email and direct lines for Modular Medical’s decision-makers are on Fundz. See plans — or book a 15-minute walkthrough.
Employee benefit plans
Modular Medical files 2 employee benefit plans with the U.S. Department of Labor, including a retirement plan. The next plan year renews in Dec 2026.
Modular Medical in the news
- Modular Medical Announces FDA Clearance of Pivot Tubeless Insulin Patch Pump Enhancements - ACCESS Newswire (Sep 03, 2026)
- Modular Medical Announces Completion of Research Initiative Indicating Strong Interest in Simpler Insulin Delivery - Yahoo Finance (Jul 14, 2026)
- Modular Medical, Inc.: Shareholders Board Members Managers and Company Profile | US60785L3069 - www.marketscreener.com (May 04, 2021)
- A tubeless insulin pump is designed for three-day wear. Modular Medical's CEO is set to speak Oct. 14. - Stock Titan (Oct 07, 2026)
- Modular Medical Inc (MODD) Share Price Today | Modular Medical Inc (MODD) Live NSE/BSE - Value Research (Jan 17, 2023)
- Modular Medical, Inc. (MODD) stock price, news, quote and history - Yahoo Finance UK (Apr 12, 2020)
- Modular Medical, Inc. (MODD) stock price, news, quote and history - Yahoo Finance Singapore (Nov 23, 2020)
- Modular Medical, Inc. (MODD) Stock Price, News, Quote & History - Yahoo! Finance Canada (Mar 01, 2020)
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About Modular Medical: questions and answers
What does Modular Medical do?
Modular Medical, Inc. (Nasdaq: MODD) is a medical device company that intends to launch the next generation of insulin delivery technology. Using its patented technologies, the Company seeks to eliminate the tradeoff between complexity and efficacy, thereby making top quality insulin delivery both affordable and simple to learn. Its mission is to improve access to the highest standard of glycemic
Where is Modular Medical headquartered?
Modular Medical is headquartered in San Diego, California, United States.
How many employees does Modular Medical have?
Modular Medical has about 44 employees.
Has Modular Medical raised funding?
Yes. Fundz has recorded 5 funding events for Modular Medical. The most recent, Post-IPO Equity of $4.7M, was in Dec 2025.
What is the latest news on Modular Medical?
On Oct 28, 2026, SEC 8-K (5.02): On October 26, 2026, Duane DeSisto resigned from the board of directors of Modular Medical, Inc. effective immediately. His resignation was not due to any disagreement regarding the Company’s operations, policies, or practices. The event follows the Company's annual shareholder meeti
Is Modular Medical a public company?
Yes. Modular Medical is publicly traded under the ticker MODD.
Source: Fundz records from SEC filings, press releases and company announcements. How Fundz measures data accuracy