Tandem Diabetes inks Dexcom deal, beats Q2 estimates

Tandem Diabetes Care (NSDQ:TNDM) yesterday reported a couple of wins, announcing a deal to integrate its insulin pumps with Dexcom‘s (NSDQ:DXCM) continuous glucose monitors and beating expectations with its 2nd-quarter results.

“Integrating Tandem’s next generation pump platform with Dexcom’s future CGM systems is an important step in aligning our technologies to be used in automated insulin delivery applications,” president & CEO Kim Blickenstaff said in prepared remarks. “We are committed to continue advancing the clinical applications of Tandem’s technology and are pleased to expand our relationship with Dexcom in support of this effort.”

The deal calls for Tandem’s t:slim and t:flex to be integrated with Dexcom’s G5 and G6 CGM devices.

“Using CGM data to direct insulin delivery is fundamental to offering the diabetes community an artificial pancreas solution,” added Dexcom’s Steve Pacelli, executive vice president for strategy & corporate development. “Our efforts with Tandem began with the display of CGM data on their pump and we are pleased to take this next step in the integration of our future products to support automated insulin delivery.”

Tandem also posted 2nd-quarter losses of -$19.5 million, or -65¢ per share, on sales of $15.7 million. Analysts on The Street were looking for losses of -71¢ on sales of $14.9 million.

“Our strong sales momentum continued in the second quarter, which was highlighted by our successful launch of the t:flex Pump,” Blickenstaff said. “This launch marks our achievement of a strategic company goal to leverage our infrastructure by offering multiple products that address different needs of the diabetes community.”

Tandem said it still expects to post sales of $70.0 million to $75.0 million this year, but raised its estimate for t:flex sales to between $4.0 million and $6.0 million from prior guidance for $1.0 million to $3.0 million.

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