DarioHealth Corp (DRIO) Scores CE Mark; Shares Soar 36%
DarioHealth Corp (NASDAQ:DRIO) investors are overwhelmingly excited after the smartphone-connected glucometer company announced that it is now allowed to place the “CE” Mark on the Lightning®-enabled version of the acclaimed Dario™ Blood Glucose Monitoring System for distribution in the European Union (EU) and its member states. The news ensures that consumers, beginning in the UK market, will be able to receive the same quality user experience with DarioHealth on the latest Apple devices, including the brand-new iPhone 8.
DarioHealth reacted to the news, rising nearly 36% to $2.44 in Wednesday’s trading session. The stock’s 50-day moving average is $1.87 and its 200-day moving average is $2.36.
The launch of Apple’s smartphones with only a Lightning connector posed a unique challenge to the entire mobile ecosystem. With today’s announcement, DarioHealth can now successfully offer its proprietary meter with either a 3.5mm headphone jack or Lightning connector.
Erez Raphael, Chairman and CEO of DarioHealth, commented, “We’ve been working tirelessly to bring forth a solution that would meet the rigorous standards required to achieve the CE Mark. We are proud that our organization worked with agility to ensure connectivity to the latest Apple devices. This significant milestone will allow us to open to a whole new market segment and reengage with former-Dario users who now have the newest Apple devices.
“The actual Lighting-enabled prototype has been ready for a long time, and the CE Mark is just the beginning. We will continue to support our users around the world and, to that end, have begun the formal process with regulatory agencies in the U.S., Canada, and Australia.”
This is a big breakthrough for the UK market because as many as 4 million people in the UK have diabetes, and now more tech-savvy consumers can use the acclaimed Dario diabetes device with their smartphones. DarioHealth continues to shine in the UK after recently being named the “First Choice” by several Clinical Commissioning Groups for people with Type 1 Diabetes.
DarioHealth engages in the research, development and sale of pharmaceutical products. It provides a monitoring device, mobile application, and data services for diabetes management. It operates under the Dario brand.