Today, investors in Meta Materials (NASDAQ:MMAT) and MMAT stock are seeing gains of approximately 8% at the time of writing. This move appears to be a culmination of many factors for this versatile tech company.
Indeed, Meta Materials’ business model is one which is as diverse as it is intriguing. The company “delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing sustainable, highly functional materials.” Among the materials and technologies Meta Materials is working on is a non-invasive glucose sensing system.
Indeed, today’s announced move toward the completion of its non-invasive glucose sensing system has investors cheering MMAT stock. Accordingly, let’s dive into the details of this announcement, and what it means for investors.
MMAT Stock on the Move Following Product Announcement
Today, Meta Materials announced its United Kingdom-funded non-invasive glucose sensing system is complete. More specifically, it shared the conclusion of its 27-month-long prototyping process. Accordingly, the company hopes this prototype will be a step toward a “home hub” system targeted at monitoring biological parameters.
This project, funded in part by the U.K. government, is a step toward innovation in the point-of-care space for diabetes patients. Similar non-invasive glucose testing systems have been attempted in the past. However, the headway Meta Materials has made is intriguing for growth investors looking at tech applications in the healthcare space.
As the company notes:
“Accurately measuring glucose without drawing blood must overcome a number of challenges, including the weak signature of the glucose molecule compared to other tissue components and water, the signal interference from other biological substances, calibrating for the effects of environmental factors such as ambient temperature and skin moisture… In this work, we have demonstrated that combining optical and radio wave sensors with data processing using artificial intelligence improves accuracy compared to standalone sensors. We are continuing development of this system, seeking new strategic partners, and planning to conduct pre-clinical human studies scheduled to start this summer.”
Should this project ultimately get to the commercialization stage, investors stand to benefit. That said, this company remains a high-risk, high-reward option today. Investors should remember to practice proper portfolio discipline in sizing positions accordingly.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.