Tandem Diabetes Care Increases 2018 Sales Guidance and Provides Estimated Third Quarter Sales Results
September 25 2018 - 9:00AM
Business Wire
Continued Domestic Demand and International
Launch of the t:slim X2 Insulin Pump Drive Growth
Tandem Diabetes Care®, Inc. (NASDAQ: TNDM), a medical device
company and manufacturer of the only touchscreen insulin pumps with
continuous glucose monitoring integration, today announced that it
has increased its 2018 sales guidance to $150 million to $158
million, from $140 million to $148 million, following continued
strong domestic sales in the third quarter and the recent launch of
the t:slim X2™ Insulin Pump in select international markets.
Compared to 2017 sales of approximately $108 million, the revised
guidance range represents annual sales growth of 39 percent to 47
percent.
The revised sales guidance includes a projected $7 million to $8
million of sales in select geographies outside of the United
States, which commenced in August 2018. Sales, training and
customer service outside of the United States are being provided by
regional distribution partners, except in Canada. The t:slim X2
Insulin Pump is currently under review by Health Canada. The
Company is planning to launch in Canada in the fourth quarter,
subject to obtaining regulatory approval.
Sales for the third quarter of 2018 are estimated to be in the
range of $42 million to $44 million, which represents quarterly
sales growth of 56 percent to 63 percent compared to approximately
$27 million in the third quarter of 2017. Sales estimates for the
third quarter of 2018 include approximately $2 million of projected
sales in select geographies outside the United States.
“The sales momentum we are experiencing both domestically and
internationally reinforces that we are successfully addressing the
needs of people with diabetes worldwide,” said Kim Blickenstaff,
President and Chief Executive Officer. “We are increasing our sales
guidance as a reflection of this and the tremendous feedback we’ve
been receiving on the t:slim X2 Insulin Pump.”
About Tandem Diabetes Care, Inc.
Tandem Diabetes Care, Inc. (www.tandemdiabetes.com) is a medical
device company dedicated to improving the lives of people with
diabetes through relentless innovation and revolutionary customer
experience. Tandem takes an innovative, user-centric approach to
the design, development and commercialization of products for
people with diabetes who use insulin. Tandem manufactures and sells
the t:slim X2™ Insulin Pump, which features integrated continuous
glucose monitoring. Tandem is based in San Diego, California.
Follow Tandem Diabetes Care on Twitter @tandemdiabetes; use
#tslimX2 and $TNDM.Follow Tandem Diabetes Care on Facebook at
www.facebook.com/TandemDiabetes.Follow Tandem Diabetes Care on
LinkedIn at https://www.linkedin.com/company/tandemdiabetes.
Tandem Diabetes Care is a registered trademark and t:slim X2 is
a trademark of Tandem Diabetes Care, Inc.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, that concern matters that involve risks and uncertainties
that could cause actual results to differ materially from those
anticipated or projected in the forward-looking statements. These
forward-looking statements relate to, among other things, the
Company’s estimated sales for the quarter ended September 30, 2018,
the Company’s projected sales for 2018, the timing of review of its
Canadian health care medical device license application, and the
anticipated commercial launch of a Tandem product in Canada in the
fourth quarter of 2018 . The forward-looking statements made in
this press release are subject to numerous risks and uncertainties
and actual results could be materially different from the results
projected or implied by these statements. For example, the
Company’s actual estimated sales for the quarter ended September
30, 2018 have been projected based on information available to
management prior to the end of the reporting period and have not
been subject to any review procedures by our independent registered
public accounting firm. In addition, the Company’s ability to
achieve its projected sales results for 2018 will be impacted by
the continued market acceptance of the Company’s new products by
healthcare providers, third-party payors and people with diabetes;
the timing and pattern of future orders from the Company’s
independent distributors; uncertainty associated with the timing
and outcome of Health Canada’s review of the t:slim X2 Insulin Pump
currently pending regulatory approval; the Company’s ability to
manufacture products in commercial quantities at an acceptable cost
and in accordance with quality requirements; and the potential that
newer products that compete with the Company’s products, or other
technological breakthroughs for the monitoring, treatment or
prevention of diabetes, may render our products obsolete or less
desirable. Other risks and uncertainties are identified in our most
recent Annual Report on Form 10-K and Quarterly Reports on Form
10-Q, and other documents that we file with the Securities and
Exchange Commission. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this release. Tandem undertakes no obligation to
update or review any forward-looking statement in this press
release because of new information, future events or other
factors.
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version on businesswire.com: https://www.businesswire.com/news/home/20180925005446/en/
Tandem Diabetes Care, Inc.Media:Steve Sabicer,
714-907-6264ssabicer@thesabicergroup.comorInvestors:Susan Morrison,
858-366-6900 x7005IR@tandemdiabetes.com
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