Trinity Biotech's Stock Soars 50% Following Breakthrough in Glucose Monitoring Technology
@TrinityBiotech (NASDAQ: $TRIB) shares surged 50% during Tuesday's trading after the company announced "breakthrough" results from its latest pre-pivotal clinical trial for its continuous glucose monitoring (CGM) technology.
The modular device, which the company describes as "disruptively affordable and user-friendly," demonstrated superior signal quality and sensor performance. It also showed a 25% to 30% improvement in a key accuracy indicator compared to previous Waveform CGM sensors, according to the company's statement.
The trial included 30 diabetic participants and revealed that the device's low blood sugar reading accuracy is now on par with industry benchmarks. Trinity Biotech plans to conduct further clinical trials to refine the device and expects to apply for regulatory approval in the European Union later this year and in the United States by 2026.
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