Tandem climbs on $36 million settlement agreement with Roche

Shares of medical device maker Tandem Diabetes Care TNDM.O rise 3.8% to $21.50 in extended trading

Company says it entered into a settlement agreement with Roche ROG.S to resolve patent disputes related to TNDM's insulin pump, t:slim X2

TNDM will pay Roche $36 million over a five-year period, with an initial payment of $8 million as part of the settlement

Up to last close, TNDM down 42.5% YTD