Hey how about a product announcement?
It’s common in this wacky world of ours that when a company is out raising money, they will issue press releases for every conceivable event. It’s also quite common that many of these “events” are completely meaningless and are merely designed to get their name out in the public or investment community. More often than not this is also an indication that the company really has nothing at all and it’s just a matter of time before they are never heard from again.
We hope this isn’t the case for Bigfoot a company which has been issuing press releases with almost reckless abandon. The latest coming today announcing …. wait for it ….
“Bigfoot Biomedical, Inc., a diabetes company developing data-driven solutions for optimizing the dosing and delivery of insulin, today announced a commercial supply agreement with Owen Mumford, a global industry leader in medical device design and manufacturing, to support inclusion of Owen Mumford’s family of Unifine® Pen Needles into Bigfoot’s in-development connected injection system subscription supply bundles.”
Yes, you read that correctly the company is announcing an agreement for pen needles. OMG we can barely contain our excitement. Yet this is just the latest in a series of press releases none mind you of anything of true substance. Which makes us wonder if the company will ever have anything of substance to say. Something mundane perhaps that they are submitting their way cool whiz bang cloud enabled toy to the FDA.
What has made Bigfoot unique isn’t their toy which quite frankly is just another toy in the toy chest. What has made Bigfoot unique is the way they planned on selling their toy. Rather than take a traditional approach the company was following the Shave Club for Men pricing model. This is what made them unique, yet it would be nice that after 5 years they would actually have a toy to sell. That after all these press releases that there would be some meat on that bone.
Keep in mind that Bigfoot has a way cool toy already as the bought the assets of Asante when they went out of business. The Snap may not have been a commercial success, but it was supposed to provide a platform for Bigfoot to get to market and forever change the insulin delivery business. Something that surprise, surprise hasn’t happened and doesn’t appear close to happening.
Listen we know at times we can be a little snarky but if your mission is to forever change the insulin delivery business it sure as hell helps if you actually have a product. That you do something other than issue meaningless press releases. Frankly about the only meaningful press release the company has ever issued was when they signed a deal with Abbott. Which would be great if there was actually a product that worked with the FreeStyle Libre.
On the flip side we are anxious to see what the next announcement will be. Perhaps the company will sign a deal with Smiths and Nephew for alcohol wipes. Or maybe it will be with an infusion set company. The anticipation is killing us.