Shares of Tandem Diabetes Care (NSDQ:TNDM) have lost a few points since the company announced a recall of more than 4,700 boxes of its insulin pump cartridges after internal testing uncovered a leak risk.
The California company warned that leaking cartridges could result in a dose of too much or too little insulin, putting users at risk.
TNDM have lost about 3% in value since the recall was announced on Friday. Shares were down 3.8% to $28.84 as of about 1:00 p.m. EST today.
"The potential for a cartridge leak was identified during in-house product testing, and the cause has been identified," president & CEO Kim Blickenstaff said in prepared remarks. "Modifications to our cartridge manufacturing process have been implemented to prevent this issue from occurring in the future."
The company, which recently closed a successful initial public offering, said that it expects to have enough inventory to quickly replace affected lots "in a timely manner."
