Additionally, the company is refinancing its existing credit facility. With the moves, DarioHealth projects it will extend its cash runway through late 2025, according to a May 2 DarioHealth news release.
“This financing will help us to continue to execute on our long-term growth strategy, which is focused exclusively on high margin, highly scalable business-to-business customer channels and allow us to maintain these positive trends in the future,” CEO Erez Raphael said in the release.
