CA-based glucose monitoring systems provider DexCom, Inc. (DXCM) and diabetes products supplier Insulet Corporation (PODD) have announced their intention to integrate data from Insulet’s OmniPod System into DexCom’s mobile App platform.
DexCom’s mobile App platform is currently under development. It will be the first version of a mobile App that is capable of incorporating glucose and other diabetes-related data from patients’ devices, which will be displayed through a smartphone App.
The decision to integrate Insulet’s OmniPod System data into DexCom’s mobile App platform is a part of DexCom’s open architecture approach to diabetes-related data. The approach will include an “approved by DexCom” indication to validate the authenticity of devices and Apps integrating DexCom CGM data.
DexCom’s mobile App platform will provide Insulet's OmniPod users increased access to data, improving diabetes management. It will help diabetic people achieve better control on their disease.
Dexcom reported a broader loss of $12.5 million or 17 cents per share in the first quarter of 2014 compared with $11.1 million or 16 cents in the comparable quarter of 2013 as well as the Zacks Consensus Estimate of a loss of 8 cents.
The broader loss can be attributable to significant increase in operating expenses in the quarter, mainly on account of a substantial rise in non-cash based share-based compensation.
DexCom’s total revenues surged 59.1% to $47.1 million, topping the Zacks Consensus Estimate of $44.0 million, on a handsome 68.0% rise in product revenues to $46.7 million. However, development grant and other revenues plunged 77.8% to $0.4 million in the quarter.
DexCom currently retains a Zacks Rank #4 (Sell). Some better-ranked stocks in the medical instruments sector include Alphatec Holdings, Inc. (ATEC) and Luminex Corporation (LMNX). Both of them sport a Zacks Rank #1 (Strong Buy).