Insulet Shares Rally on FDA Approval of Omnipod 5
January 28 2022 - 10:40AM
Dow Jones News
By Colin Kellaher
Shares of Insulet Corp. rose nearly 10% on Friday after the
medical-device company won U.S. Food and Drug Administration
approval for its Omnipod 5 automated insulin-delivery system for
individuals ages 6 and older with type 1 diabetes.
The FDA nod represents a meaningful milestone for Insulet, said
analysts at Citi, who noted that the Acton, Mass., company and its
investors have been waiting for a green light for almost a
year.
Citi said it believes the Omnipod 5, which is the first tubeless
automated insulin-delivery system that integrates with DexCom
Inc.'s G6 continuous glucose monitoring system and a compatible
smartphone, will be very well received, and the analysts reiterated
their buy rating on the stock.
Insulet shares were recently changing hands at $213.12, up
9.4%.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 28, 2022 10:25 ET (15:25 GMT)
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