Modular Medical Cuts 29% Of Workforce, Eliminates 20 Jobs To Reduce Cash Burn And Save ~$3.4M Annually

Modular Medical, Inc. has laid off 20 employees, representing approximately 29% of its workforce, to reduce cash burn and operating expenses. This move is expected to save the company around $3.4 million annually. The company anticipates incurring non-recurring charges of approximately $0.1 million to $0.2 million related to severance payments, primarily in the quarter ending June 30, 2026.