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Senseonics Holdings, Inc. (symbol: SENS) is a pioneering medical technology firm based in Germantown, Maryland. The company's primary focus is on developing and commercializing advanced glucose monitoring systems that significantly improve the lives of people managing diabetes. Utilizing cutting-edge fluorescence sensing technology, Senseonics has designed the Eversense Continuous Glucose Monitoring (CGM) System, recognized for being the first fully implantable CGM system. This system comprises a tiny sensor implanted under the skin, an external smart transmitter, and a user-friendly mobile application, allowing for real-time glucose monitoring without the need for a dedicated receiver.
The Eversense CGM System stands out for its accuracy and stability throughout its extended sensor life, offering continuous glucose monitoring for up to 180 days. This long-term solution provides an alternative to traditional short-term CGMs, catering to individuals who require a more stable and reliable glucose monitoring option.
Senseonics has established strong partnerships, including a notable collaboration with Ascensia Diabetes Care, which ensures that their innovative solutions reach a global audience. Their latest product, the Eversense E3 CGM System, is part of an extended assistance program known as the Eversense Payment Assistance and Simple Savings (PASS) Program. This program offers eligible individuals in the U.S. the opportunity to access the Eversense E3 systems at a significantly reduced out-of-pocket cost of $99 for each six-month period, thereby making continuous glucose monitoring more affordable.
Senseonics is committed to advancing diabetes management technology, as evidenced by their continued innovation and dedication to improving accessibility to their products. The company's forward-looking approach and strategic alliances position them as a key player in the medical technology landscape, specifically in the context of diabetes management.
Senseonics Holdings has granted equity to new employees as per its 2019 Inducement Plan. On July 1, 2021, the Compensation Committee approved 66,000 non-qualified stock options for five new non-executive employees, with an exercise price of $3.50 per share. The vesting schedule includes 25% on the first anniversary of their start date and the rest monthly over three years, contingent on continued service. The company aims to expand its Eversense continuous glucose monitoring (CGM) system for diabetes management.
Senseonics Holdings, Inc. (NYSE American: SENS) presented new data from the PROMISE Study regarding its Eversense CGM System at the American Diabetes Association’s 81st Annual Scientific Sessions. The findings indicate that the next-generation device demonstrates safety and accuracy comparable to the current 90-day sensor with extended usage up to 180 days. Key metrics include a mean absolute relative difference (MARD) of 9.1% and high hypoglycemia alert detection rates. The Eversense system enhances user experience by offering discreet alerts and a rechargeable transmitter.
Senseonics Holdings (SENS) announced positive results from the PROMISE Study for its Eversense CGM System, showcasing its accuracy and safety over a 180-day period. The study revealed an overall mean absolute relative difference (MARD) of 9.1% for the primary sensor and a 93% hypoglycemic alert detection rate. The company is awaiting regulatory feedback from US and European agencies regarding its pre-market submissions. The Eversense CGM System, now available in the US and Europe, is significant for patients managing diabetes.
Senseonics Holdings reported financial results for Q1 2021, with revenues reaching $2.85 million, a significant increase from $0.04 million in Q1 2020. Revenue outside the U.S. accounted for $2.53 million. Notably, the company decreased its operating loss by $32.52 million year-over-year, while net loss rose to $249.51 million, largely due to non-cash accounting charges. Senseonics expects 2021 global net revenue between $12 million and $15 million. The company also strengthened its balance sheet by raising $175 million from financing transactions.
Senseonics Holdings, Inc. (NYSE-American: SENS) announced plans to release its Q1 2021 financial results after market close on May 13, 2021. A conference call will follow at 4:30 p.m. ET to discuss performance, which will also be available via webcast. Senseonics specializes in implantable continuous glucose monitoring (CGM) systems to aid diabetes management. Their products include the Eversense® and Eversense® XL CGM systems. More details will be accessible on their website.
Senseonics Holdings, Inc. (NYSE American: SENS) has granted equity to new employees as part of its 2019 Inducement Plan. On April 1, 2021, five non-executive employees were awarded stock options totaling 62,000 shares at an exercise price of $2.58, the closing price on that day. The options will vest over a four-year period contingent on continued service. Senseonics continues to advance its Eversense Continuous Glucose Monitoring (CGM) System, which measures glucose levels for individuals aged 18 and older and aims to expand its market reach globally.
Senseonics Holdings reported financial results for 2020, with Q4 revenue at $3.9 million, down from $9.0 million in Q4 2019. U.S. sales were $0.4 million, while international sales were $3.5 million. The company raised $175 million in equity offerings early 2021 to bolster its balance sheet. Net loss for Q4 2020 was $101.6 million, increasing from $35.6 million in Q4 2019. For the full year, total revenue was $4.9 million, significantly down from $21.3 million in 2019. Looking ahead, 2021 guidance estimates revenue between $12 million and $15 million.
Senseonics Holdings, Inc. (NYSE American: SENS) announced its participation in the virtual H.C. Wainwright Global Life Sciences Conference on March 9, 2021. Management will engage in one-on-one meetings and a presentation webcast will be available at 7:00am ET on the same day. The webcast can be accessed via the Investor Relations section of their website. Senseonics is dedicated to developing innovative continuous glucose monitoring systems aimed at improving the quality of life for diabetes patients, featuring their Eversense® and Eversense® XL products.
Senseonics Holdings, Inc. (NYSE-American: SENS) is set to release its fourth quarter and full year 2020 financial results after the market closes on March 4, 2021. A conference call will follow at 4:30 p.m. ET to discuss these results, available via a webcast on the company's website. Senseonics specializes in implantable continuous glucose monitoring systems for diabetes management, including the Eversense systems that offer real-time glucose data to users.
Senseonics Holdings, Inc. (NYSE American: SENS) announced its participation in the virtual SVB Leerink Global Healthcare Conference on February 25, 2021, at 12:00 pm ET. The presentation will be accessible through the company's website under the 'Investor Relations' section. Senseonics specializes in developing long-term, implantable continuous glucose monitoring systems for diabetes patients, with products like Eversense® and Eversense® XL that provide timely glucose data directly to users' smartphones.
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