NASDAQ – Diabetes Tech – Funded through March 2020 – Chart Coming off Multiple Bottom – Recent Major Collaborations
Approximately 425 million adults are living with diabetes.
By 2045 this will rise to 629 million.
Diabetes causes 4 million deaths annually.
DRIO allows you to use your cell phone to help control your diabetes.
Good day everyone,
Today we are initiating coverage of DarioHealth Corp. (NASDAQ: DRIO), a digital health company using smart phones and other mobile devices to digitally engage users of their products.
Current price $.77 per share
52-week range $.58 to $2.15 per share
The company’s flagship product, Dario Smart Diabetes Management Solution, is a mobile, real-time, cloud-based, diabetes management solution based on a software application combined with Dario Smart Meter, a pocket-sized, blood glucose monitoring device. DRIO digitally engages with Dario users and assists them in monitoring and provides them with coaching, support, digital communications, and real time alerts, trends, and pattern analysis. DRIO sells its products through B2B collaborations and online at its website.
DRIO is a hot play right now because:
Two weeks ago, DRIO announced the launch of a new version of its Dario® system and DarioEngage™
The enhancements in the updated platform target three key areas: (1) driving user engagement through digital intuitive experience and tools, (2) lowering barriers to behavioral change for people with chronic conditions and (3) streamlining experience and process efficiency for both individual users and their coach.
In the past month, DRIO has announced three major collaborations.
DRIO announced an agreement with Cupertino-based Auer Integrative Health’s Functional Medicine and Chiropractic, a Silicon Valley medical clinic. Auer will use the DarioEngage™ healthcare provider platform to remotely monitor, engage and manage patients with diabetes and pre-diabetes. The platform allows the clinic to support their all-inclusive patient diabetes management program, in which patients receive health and wellness coaching virtually and via phone.
DRIO announced a joint marketing agreement with Glytec, the market leader and pioneer of insulin titration solutions for use across the full continuum of care. The agreement allows DarioHealth’s smart glucose meter (part of the Dario Blood Glucose Monitoring System) to transmit information to Glytec’s Glucommander™ Outpatient software-as-a-medical-device. Blood glucose data from the Dario Blood Glucose Monitoring System, automatically sent to the Cloud in real-time, will be seamlessly imported to Glucommander Outpatient™ and utilized in conjunction with other clinical data to formulate personalized insulin dose recommendations.
DRIO announced the receipt of a license from Health Canada to sell its Dario™ Blood Glucose Monitoring System for Lightning power connector-enabled iPhone smart mobile devices. iPhone users in Canada, including those with prior models that use a headphone jack, as well as those with the Lightning power connector, will now have access to DarioHealth’s acclaimed digital diabetes products and lifestyle management app features, like glucose level tracking, real time patient glucose data access for healthcare providers, carb counting, hypo alerts, amongst other diabetes countering features.
The catalysts mentioned above all happened in the past month and could likely have an impact on the DRIO share price in the near future.
DRIO reported 2018 revenues that were 43% higher than 2017. We believe the catalysts mentioned above could result in an even higher revenue increase for 2019. DRIO also reported a 37% increase in new subscribers YOY
The company’s revenue increases are also attributable to new sales channels such as Amazon, BestBuy and the partnership with Giant Eagle.
The proportion of people with type 2 diabetes is increasing in most countries. Diabetes caused at least $727 billion dollars in health expenditure in 2017 – 12% of total spending on adults.
In 2015, an additional 84.1 million Americans age 18 or older have what is known as prediabetes, which when left unmanaged will most likely become diabetes. According to The National Center for Biotechnology Information, diabetes is one of the worst epidemics of the 21st century.
DRIO is just beginning to penetrate the market with their products.
DRIO has a 52-week high of $2.15 per share, representing the potential for a 300% gain.
As of December 31, 2018, cash and cash equivalents totaled $11 million. According to management’s estimates, DRIO will have sufficient resources to continue operating into March 2020 without raising additional capital.
Short interest in DRIO shares is negligible, hovering around .34% of the outstanding shares for 2019.
DRIO is trading above its 50 DMA of $.72 and is closing in on its 200 DMA of $.90. When the shares cross the 200 DMA the potential gains could be significant.
We will have more on (NASDAQ: DRIO) soon.
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