By Ben Glickman

Shares of Tandem Diabetes Care climbed Tuesday after the company said the U.S. Food and Drug Administration cleared its Tandem Mobi insulin pump.

The stock was up 9.7% to $27.35 in mid-morning trading. Shares are down 39% year to date.

The San Diego-based diabetes technology company said its miniature insulin pump had received clearance for people with diabetes age 6 and older, and was the world's smallest durable insulin-delivery system.

Tandem said it expects a limited release of the Tandem Mobi in late 2023 and a full commercial release by early 2024.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

July 11, 2023 10:46 ET (14:46 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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