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Senseonics Holdings, Inc. reports developments tied to its long-term, implantable continuous glucose monitoring systems for people with diabetes. The company designs, develops, manufactures and commercializes the Eversense CGM platform, including Eversense 365 and Eversense E3, which use an under-the-skin sensor, a wearable smart transmitter and a mobile app for glucose data.
Recurring news for SENS covers financial results, U.S. and European commercialization, CE Mark and product-launch activity, automated insulin delivery integrations, and pipeline work on Gemini and Freedom systems. Company updates also include capital actions such as common stock and pre-funded warrant offerings, loan-facility amendments, and funding for Eversense 365 commercialization and product development.
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.
Senseonics Holdings, Inc. (NYSE American: SENS) announces that Ascensia Diabetes Care has commenced sales and marketing of the Eversense® XL CGM system in key European markets, enhancing their strategic partnership initiated in August 2020. The Eversense XL offers continuous glucose readings for up to 180 days with a single sensor. Ascensia will distribute the product in Germany, Italy, The Netherlands, Poland, Spain, and Switzerland, building on their existing support for the original Eversense® CGM system in the US. This collaboration aims to improve diabetes management for patients across Europe.
Senseonics Holdings, Inc. (SENS) announced the closing of a public offering of 59,740,259 shares of common stock on January 26, 2021. The offering was priced at $1.925 per share, generating approximately $115 million in gross proceeds. Funds will be utilized for general corporate purposes, including product development and regulatory approval for its 365-day continuous glucose monitoring system. The offering's completion allows Senseonics to fund operations until cash flow breakeven, based on current projections.