Tandem Diabetes Shares Gain 8% After Sales Rise and CEO Change

Third-quarter sales increased 14% to $283.7 million. U.S. sales rose 9%, while international revenue grew 27%, the diabetes technology company said.

Tandem’s net loss narrowed to $7.1 million, or 10 cents a share, from $21.2 million, or 31 cents a share, a year earlier. The company reaffirmed its full-year guidance.

Bankes succeeds John Sheridan, whose planned retirement is set for the end of 2026 after more than a decade at the company. She has held positions at GE Healthcare, Merck, Boston Scientific and Alcon.