Senseonics Announces Equity Grants To Employees Under Inducement Plan

Rhea-AI Summary

Senseonics Holdings, Inc. (NYSE American: SENS) announced participation in the upcoming Morgan Stanley Global Healthcare Conference in New York. On October 5, 2022, the company granted 6 non-executive employees stock options for a total of 78,000 shares at an exercise price of $1.34, contingent on continued service and vesting after one year. Senseonics aims to expand its Eversense CGM System availability and enhance the product, which continuously measures glucose levels for up to 6 months, providing an alternative to traditional fingerstick tests.

Positive

• Participation in the Morgan Stanley Global Healthcare Conference may increase visibility and interest in the company's products.
• Granting of stock options indicates confidence in new staff and potential for growth.

Negative

• The press release does not provide specific financial metrics or performance data, leaving uncertainty regarding actual business growth.

GERMANTOWN, Md.--(BUSINESS WIRE)-- Senseonics Holdings, Inc. (NYSE American: SENS), a medical technology company focused on the design and manufacturing of long-term, implantable continuous glucose monitoring (CGM) systems for people with diabetes, today announced plans to participate in the upcoming Morgan Stanley Global Healthcare Conference in New York, NY.

On October 5, 2022, Senseonics Compensation Committee granted 6 new non-executive employees non-qualified stock options to purchase an aggregate of 78,000 shares of the Company’s common stock as an inducement for such employees to join the Company. The options have an exercise price of $1.34 per share, which was the closing price of the Company’s common stock on the NYSE American on October 5, 2022. In each case, 25% of the shares underlying the options will vest on the first anniversary of the employee’s start date, with the remainder vesting in monthly installments over the subsequent three year period, in all cases contingent on such employee’s continued service with the Company at the applicable vesting date. Senseonics continues to work to bring its Eversense CGM System to more people with diabetes in the U.S. and other markets around the globe and drives to develop enhancements to the system.

About Eversense

The Eversense® Continuous Glucose Monitoring (CGM) System is indicated for continually measuring glucose levels in persons age 18 and older with diabetes for up to 6 months. The system is indicated for use to replace fingerstick blood glucose (BG) measurements for diabetes treatment decisions. Fingerstick BG measurements are still required for calibration twice per day, and when symptoms do not match CGM information or when taking medications of the tetracycline class. The sensor insertion and removal procedures are performed by a trained and certified health care provider. The Eversense CGM System is a prescription device; patients should talk to their health care provider to learn more. For important safety information, see https://eversensediabetes.com/safety-info/.

About Senseonics

Senseonics Holdings, (“Senseonics”) is a medical technology company focused on the development and manufacturing of glucose monitoring products designed to transform lives in the global diabetes community with differentiated, long-term implantable glucose management technology. Senseonics' CGM systems, Eversense®, Eversense® XL and Eversense® E3 include a small sensor inserted completely under the skin that communicates with a smart transmitter worn over the sensor. The glucose data are automatically sent every 5 minutes to a mobile app on the user's smartphone.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221006005396/en/

Senseonics Investor Contact

Philip Taylor

Investor Relations

415-937-5406

investors@senseonics.com

Source: Senseonics Holdings, Inc.

FAQ

What is the significance of Senseonics participating in the Morgan Stanley Global Healthcare Conference?

Participation may enhance Senseonics' visibility and attract interest in its glucose monitoring technologies.

What were the details of the stock options granted by Senseonics on October 5, 2022?

Senseonics granted 6 non-executive employees stock options to purchase 78,000 shares at an exercise price of $1.34, vesting over four years.

What is the Eversense Continuous Glucose Monitoring System?

Eversense is a long-term implantable CGM system that measures glucose levels for up to 6 months, designed to assist people with diabetes.

How often must Eversense users perform fingerstick calibrations?

Users must perform fingerstick calibrations twice a day to verify the accuracy of the Eversense system.