MiniMed rises as FDA clears smartphone‑controlled insulin pump

Shares of medical device maker MiniMed MMED.O rise up 1.25% to $17.04

Co says FDA clears MiniMed Flex insulin pump, its first device controlled via a smartphone app

Flex is about half the size of the MiniMed 780G, has no screen and adjusts insulin delivery automatically using an adaptive algorithm, Co says

Device works with MiniMed’s latest sensors, including products from Abbott, and holds 300 units of insulin, co says

Cleared for people aged 7 and older with type 1 diabetes and adults with insulin‑requiring type 2 diabetes, co says

Says rollout to start with select customers this spring, with a broader launch planned for summer

Shares are down ~15% from their March IPO price of $20