Nemaura Medical Reports Second Quarter 2018 Financial Results

Nemaura Medical (NASDAQ:NMRD), a medical technology company developing sugarBEAT® as a non-invasive, affordable and flexible continuous glucose monitor (CGM) for use by people with diabetes and pre-diabetics recently reported financial results for the second quarter ended September 30, 2018.

As quoted in the press release:

Dr. Faz Chowdhury, CEO of Nemaura Medical commented “we have maintained our well capitalised financial position to better support the expected commercial launch of sugarBEAT® in the United Kingdom in the coming weeks. Moreover, we anticipate achieving profitability in a significantly shorter term frame, as compared to other CGM providers, given the research and development costs we have incurred to date have been substantially lower, a trend we are confident will continue as we commercialize sugarBEAT®.”

Second Quarter 2018 results:

Research and development expenses increased to $622,282 for the quarter ending September 2018, an increase of $413,195 for the same quarter in 2017.

General and administrative expenses increased to $525,075 for the quarter ended September 2018, compared with $238,429 for the same quarter in 2017.

The Company’s comprehensive loss was $1,177,758 for the quarter ending September 2018, an increase of $944,036 for the same quarter in 2017.

Click here to read the full press release.