Senseonics Holdings, Inc. Provides Update on Eversense 365 Launch
Senseonics Holdings (NYSE: SENS) reported strong early performance indicators for its Eversense 365 launch, which began shipping in November. Key highlights include: doubled Direct-to-Consumer leads in October and November compared to pre-launch months, highest new patient shipments since Ascensia partnership began, 42% increase in prescribing providers, and 69% increase in prescriptions from top prescribers.
The company maintains its target of 50% annual growth in patient installed base for 2024 and reiterates global net revenue guidance of approximately $22 million. One-third of Eversense 365 prescribers are first-time users, and patient switches from competitive CGMs have increased 47% since launch. The company plans a reverse stock split in January 2025 to enhance appeal to institutional investors.
Senseonics Holdings (NYSE: SENS) ha riportato forti indicatori di prestazione precoce per il lancio di Eversense 365, che ha iniziato le spedizioni a novembre. I punti salienti includono: raddoppiati i contatti Diretti al Consumatore in ottobre e novembre rispetto ai mesi precedenti al lancio, il numero più alto di spedizioni di nuovi pazienti da quando è iniziata la partnership con Ascensia, un aumento del 42% dei fornitori prescrittori e un aumento del 69% delle prescrizioni dai principali prescrittori.
L'azienda mantiene il suo obiettivo di crescita annuale del 50% nella base di pazienti installati per il 2024 e ribadisce la guida sui ricavi netti globali di circa 22 milioni di dollari. Un terzo dei prescrittori di Eversense 365 sono nuovi utilizzatori e i passaggi dei pazienti da CGM concorrenti sono aumentati del 47% dal lancio. L'azienda prevede di effettuare un frazionamento azionario inverso a gennaio 2025 per aumentare l'attrattiva per gli investitori istituzionali.
Senseonics Holdings (NYSE: SENS) informó sobre indicadores de rendimiento temprano sólidos para el lanzamiento de Eversense 365, que comenzó a enviarse en noviembre. Los aspectos más destacados incluyen: duplicación de los contactos Directo al Consumidor en octubre y noviembre en comparación con los meses previos al lanzamiento, el número más alto de envíos de nuevos pacientes desde que comenzó la asociación con Ascensia, un aumento del 42% en los proveedores que prescriben, y un aumento del 69% en las recetas de los principales prescriptores.
La compañía mantiene su objetivo de un crecimiento anual del 50% en la base de pacientes instalados para 2024 y reitera su guía de ingresos netos globales de aproximadamente 22 millones de dólares. Un tercio de los prescriptores de Eversense 365 son usuarios por primera vez, y los cambios de pacientes de CGMs competitivos han aumentado un 47% desde el lanzamiento. La empresa planea realizar una división inversa de acciones en enero de 2025 para aumentar su atractivo para los inversores institucionales.
센숀익스 홀딩스 (NYSE: SENS)는 11월에 출하가 시작된 에버센스 365 출시를 위한 강력한 조기 성과 지표를 보고했습니다. 주요 하이라이트로는: 소비자 직접 유입이 두 배로 증가한 10월과 11월, Ascensia 파트너십 이후 가장 높은 신규 환자 배송 수, 처방 제공자의 42% 증가, 주요 처방자에서의 처방 증가 69%가 있습니다.
회사는 2024년 환자 설치 기반에서 50%의 연간 성장 목표를 유지하며, 약 2200만 달러의 글로벌 순수익 가이드를 재확인하고 있습니다. 에버센스 365 처방자의 3분의 1은 처음 사용자이며, 경쟁 CGM에서의 환자 전환이 출시 이후 47% 증가했습니다. 회사는 기관 투자자에 대한 매력을 높이기 위해 2025년 1월에 주식 분할을 계획하고 있습니다.
Senseonics Holdings (NYSE: SENS) a rapporté de solides indicateurs de performance précoce pour le lancement de Eversense 365, qui a commencé ses expéditions en novembre. Parmi les faits saillants, on note : le doublement des contacts Direct au Consommateur en octobre et novembre par rapport aux mois précédant le lancement, le plus grand nombre d'expéditions de nouveaux patients depuis le début du partenariat avec Ascensia, une augmentation de 42% des prescripteurs et une augmentation de 69% des prescriptions des principaux prescripteurs.
L'entreprise maintient son objectif de croissance annuelle de 50% de la base de patients installés pour 2024 et réitère sa prévision de revenus nets mondiaux d'environ 22 millions de dollars. Un tiers des prescripteurs d'Eversense 365 sont des utilisateurs pour la première fois, et les changements de patients à partir de CGM concurrents ont augmenté de 47% depuis le lancement. L'entreprise prévoit un regroupement d'actions en janvier 2025 pour accroître son attractivité auprès des investisseurs institutionnels.
Senseonics Holdings (NYSE: SENS) berichtete über starke Frühleistungsindikatoren für den Start von Eversense 365, der im November begann. Zu den wichtigsten Highlights gehören: verdoppelte Direktvertriebskontakte im Oktober und November im Vergleich zu den Monaten vor dem Start, die höchste Anzahl an neuen Patientenlieferungen seit Beginn der Partnerschaft mit Ascensia, ein Anstieg der verschreibenden Anbieter um 42% und ein Anstieg der Rezepte von den Hauptverschreibern um 69%.
Das Unternehmen hält an seinem Ziel eines jährlichen Wachstums von 50% im installierten Patientenstamm für 2024 fest und bekräftigt den globalen Nettoumsatz von etwa 22 Millionen Dollar. Ein Drittel der Eversense 365-Verschreiber sind Erstnutzer, und der Patientenwechsel von konkurrierenden CGMs ist seit dem Launch um 47% gestiegen. Das Unternehmen plant eine Aktienzusammenlegung im Januar 2025, um die Attraktivität für institutionelle Investoren zu erhöhen.
- Record-high new patient shipments since Ascensia partnership
- 42% increase in prescribing providers since launch
- 69% increase in prescriptions from top prescribers
- 47% increase in patients switching from competitive CGMs
- On track for 50% annual growth in patient installed base
- Projected global net revenue of $22 million for 2024
- Planned reverse stock split indicates concerns about low stock price
- Current stock price level limiting institutional investment potential
Insights
Strong Eversense® 365 early launch indicators illustrated by largest number of new patient shipments and largest number of prescribing providers in any month under Ascensia partnership
GERMANTOWN, Md., Dec. 09, 2024 (GLOBE NEWSWIRE) -- Senseonics Holdings, Inc. (NYSE American: SENS), a medical technology company focused on the development and manufacturing of long-term, implantable continuous glucose monitoring (CGM) systems for people with diabetes, today provided commercial updates related to the Eversense® 365 launch.
Eversense 365 Commercial Launch Update
- Launched Eversense 365 in October with global commercial partner Ascensia Diabetes Care and began shipping product in November
- Seeing strong interest in Eversense 365, as evidenced by the following early launch performance indicators:
- Direct-to-Consumer (DTC) leads in each of October and November were more than double the number of leads in pre-launch months
- New patient shipments in November were the highest compared to any month since inception of the Ascensia partnership
- Since launch, Eversense 365 has already shown a
42% increase in the number of providers prescribing Eversense and a69% increase in prescriptions from top prescribers compared to the pre-launch rate in 2024 - One-third of Eversense 365 prescribers are new first-time Eversense prescribers
- The number of patients switching to Eversense monthly from competitive CGMs has increased
47% since Eversense 365 launch
- Remain on-target to achieve annual growth of approximately
50% in patient installed base at the end of 2024 as compared with 2023 - Reiterated full-year 2024 global net revenue guidance of approximately
$22 million
Brian Hansen, President of Ascensia’s CGM division, commented, “We are thrilled to have a world-class product that so fully addresses patient needs for a long-term CGM, with minimal data disruptions and complete flexibility. Patients have been elated with Eversense 365’s reduction in calibration and ease of use, and providers are getting the consistent flow of data required to manage their patients’ disease. We believe this is driving the double-digit growth in monthly patients since 365 launch switching from competitive CGMs--and a triple-digit increase in Type 2 basal only patients, the largest market segment opportunity. Eversense 365 is really a win-win for everyone, and our strong early launch performance indicators are showing meaningful improvement in the key metrics we track.”
“2024 has been a landmark year for Senseonics, achieving our long-term goal of commercializing the Eversense 365 product, providing people with diabetes a convenient and accurate solution for monitoring blood glucose for an entire year with a single sensor,” said Tim Goodnow, PhD, President and Chief Executive Officer of Senseonics. “We are excited to see the strong early performance indicators that we believe reflect the commercial potential of this ground-breaking product. Patient and provider leads and new interest from health systems have all increased significantly following 365 launch, and we expect that a heightened level of interest will drive our results for 2025. We intend to provide updates on the ongoing 365 launch, as well as on our product portfolio development, pump-connectivity, additional health care systems, and our ex-US commercial launch of Eversense 365 over the course of 2025.”
“Additionally, in an effort to enhance Senseonics’ appeal to institutional and other investors, we are seeking to execute a reverse stock split, pending shareholder approval, in January 2025,” continued Dr. Goodnow. “We understand that many institutional investors and other funds have internal policies and practices that limit their ability to invest in low-priced stocks, and we are seeking a reserve stock split to overcome these limitations, which we believe will address this impediment and make it easier for these investors to invest in Senseonics stock.”
About Senseonics
Senseonics Holdings, Inc. ("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® 365 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.
About Eversense
The Eversense® Continuous Glucose Monitoring (CGM) Systems are indicated for continually measuring glucose levels for up to 365 days for Eversense® 365 and 180 days for Eversense® E3 in persons with diabetes age 18 and older. The systems are indicated for use to replace fingerstick blood glucose (BG) measurements for diabetes treatment decisions. Fingerstick BG measurements are still required for calibration primarily one time per week after day 14 for Eversense® 365 and one time per day after day 21 for Eversense® E3, 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 health care provider. The Eversense CGM Systems are prescription devices; patients should talk to their health care provider to learn more. For important safety information, see https://www.eversensediabetes.com/safety-info/.
About Ascensia Diabetes Care
Ascensia Diabetes Care is a global company focused entirely on helping people with diabetes. Our mission is to empower those living with diabetes through innovative solutions that simplify and improve their lives.
We are home to the world-renowned CONTOUR® portfolio of blood glucose monitoring systems and the exclusive global distribution partner for the Eversense® Continuous Glucose Monitoring Systems from Senseonics. These products combine advanced technology with user-friendly functionality to help people with diabetes manage their condition and make a positive difference to their lives. As a trusted partner in the diabetes community, we collaborate closely with healthcare professionals and other partners to ensure our products meet the highest standards of accuracy, precision and reliability, and that we conduct our business compliantly and with integrity.
Ascensia is a member of PHC Group and was established in 2016 through the acquisition of Bayer Diabetes Care by PHC Holdings Corporation. Ascensia products are sold in more than 100 countries. Ascensia has around 1,400 employees and operations in 29 countries.
For further information, please visit the Ascensia Diabetes Care website at: http://www.ascensia.com.
About PHC Holdings Corporation
PHC Holdings Corporation (TSE 6523) is a global healthcare company with a mission of contributing to the health of society through healthcare solutions that have a positive impact and improve the lives of people. Its subsidiaries (referred to collectively as PHC Group) include PHC Corporation, Ascensia Diabetes Care Holdings AG, Epredia Holdings Ltd., LSI Medience Corporation, Mediford Corporation, and Wemex. Together, these companies develop, manufacture, sell and service solutions across diabetes management, healthcare solutions, life sciences and diagnostics. PHC Group’s consolidated net sales in FY2023 were JPY 353.9 billion with global distribution of products and services in more than 125 countries. www.phchd.com
©2024 Ascensia Diabetes Care Holdings AG. All right reserved. Ascensia, the Ascensia Diabetes Care logo and Contour are trademarks and/or registered trademarks of Ascensia Diabetes Care Holdings AG.
Forward Looking Statements
Any statements in this press release about the expectations regarding the success of the commercial product launch of Eversense 365, trends of interest in, and market acceptance and adoption of, Eversense 365 by patients and prescribers, revenue expectations, product development plans and/or growth of Eversense, the potential implementation of the proposed reverse stock split and the potential that the reverse stock split may make the company’s stock more appealing to institutional investors, and other statements containing the words "believe," “expect,” “intend,” “may,” “projects,” “will,” “planned,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: uncertainties inherent in the new product launch and ongoing commercialization of Eversense 365, uncertainties inherent in the reliance on the commercialization efforts and investment of Ascensia and its commercial initiatives, uncertainties in prescriber and patient decisions and responses to new technology or initiatives, uncertainties in insurer, regulatory and administrative processes and decisions, uncertainties inherent in the development and registration of new technology, uncertainties in the development of and competition in the overall CGM market, the potential inability to receive requisite stockholder approval of the proposed reverse stock split, the risk that the share price resulting from a reverse stock split may not attract institutional or other investors, may not satisfy the investing guidelines of these investors, or otherwise may not result in increased investor interest in Senseonics’ stock or improved trading liquidity in the company’s stock, and such other factors as are set forth in the risk factors detailed in Senseonics' Annual Report on Form 10-K for the year ended December 31, 2023 and subsequent quarterly reports on Form 10-Q filed with the SEC under the heading "Risk Factors" and the Definitive Proxy Statement filed with the SEC on November 29, 2024 under the heading “Certain Risks and Potential Disadvantages Associated with a Reverse Stock Split.” In addition, the forward-looking statements included in this press release represent Senseonics’ views as of the date hereof. Senseonics anticipates that subsequent events and developments will cause Senseonics’ views to change. However, while Senseonics may elect to update these forward-looking statements at some point in the future, Senseonics specifically disclaims any obligation to do so except as required by law. These forward-looking statements should not be relied upon as representing Senseonics’ views as of any date subsequent to the date hereof.
Important Additional Information
The Company, its directors and executive officers, are deemed to be “participants” (as defined in Section 14(a) of the Securities Exchange Act of 1934, as amended) in the solicitation of proxies from the Company’s stockholders in connection with the Special Meeting of Stockholders (the “Special Meeting”) scheduled for January 10, 2025. The Company filed its definitive proxy statement (the “Definitive Proxy Statement”) with the SEC on November 29, 2024 in connection with such solicitation of proxies from the Company’s stockholders. STOCKHOLDERS OF THE COMPANY ARE STRONGLY ENCOURAGED TO READ SUCH DEFINITIVE PROXY STATEMENT, ACCOMPANYING PROXY CARD AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY AS THEY CONTAIN IMPORTANT INFORMATION ABOUT THE SPECIAL MEETING. The Definitive Proxy Statement contains information regarding the identity of the participants, and their direct and indirect interests, by security holdings or otherwise, in the Company’s securities and can be found in the section titled “Security Ownership of Certain Beneficial Owners and Management” of the Definitive Proxy Statement. Information regarding subsequent changes to their holdings of the Company’s securities can be found in the SEC filings on Forms 3, 4, and 5, which are available on the Company’s website available here or through the SEC’s website at www.sec.gov. Stockholders will be able to obtain the Definitive Proxy Statement, any amendments or supplements thereto and other documents filed by the Company with the SEC at no charge at the SEC’s website at www.sec.gov. Copies will also be available at no charge at the Company’s website at https://www.senseonics.com/investor-relations/sec-filings.
Senseonics Investor Contact
Jeremy Feffer
LifeSci Advisors
investors@senseonics.com
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