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, 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.
Senseonics Holdings, Inc. (NYSE American: SENS) announced an increased stock offering, purchasing 51,948,052 shares at $1.925 each due to strong demand. The offering, set to close around January 26, 2021, aims to raise approximately $100 million, subject to fees and expenses. The funds will support product development, regulatory approval, and commercialization efforts for its continuous glucose monitoring system in collaboration with Ascensia Diabetes Care. The offering is facilitated by H.C. Wainwright & Co. as the sole book-running manager.
Senseonics Holdings has entered into an underwriting agreement with H.C. Wainwright & Co. for a public stock offering of 25,974,026 shares at $1.925 each. The offering aims to close around January 26, 2021, pending customary conditions. Gross proceeds are estimated at $50 million, intended for corporate purposes, product development, and capital expenditures. An additional 3,896,103 shares may be offered under a 30-day option. The shares will be sold under an effective SEC registration statement.
Senseonics Holdings, Inc. (NYSE American: SENS) announced that EmblemHealth is now covering the Eversense® Continuous Glucose Monitoring (CGM) System, effective immediately, expanding access to around 2.9 million residents in New York, New Jersey, and Connecticut. This addition highlights the growing recognition among payers of CGM as a standard care for insulin-dependent diabetes management. The Eversense system features an implantable sensor and smart transmitter that enhances glucose monitoring. Improved coverage may aid in achieving better health outcomes for patients.
Senseonics Holdings, Inc. (NYSE American: SENS) has announced a registered direct offering of 40,000,000 shares of common stock at $1.25 per share, expected to raise $50.0 million before expenses. The offering is managed by H.C. Wainwright & Co. and is slated to close on or about January 21, 2021. The net proceeds will be allocated for general corporate purposes. The shares are being offered under a shelf registration statement filed with the SEC, ensuring compliance with regulatory requirements.
Senseonics Holdings, Inc. (SENS) has granted equity to four new non-executive employees under its 2019 Inducement Plan, totaling 22,000 stock options and 280,000 restricted stock units. The stock options have an exercise price of $0.95 per share, correlating with the closing price on January 5, 2021. Vesting occurs over four years, contingent on continued employment. This move aims to strengthen Senseonics' workforce as it seeks to expand its Eversense continuous glucose monitoring system for diabetes patients in the U.S. and internationally.
Senseonics Holdings, Inc. (NYSE American: SENS) announced key financial and operational updates, projecting fourth-quarter 2020 net revenue of approximately $3.5 million, up from earlier estimates of $2.5 million. Full-year 2021 revenue is expected between $12 and $15 million. The FDA has delayed the marketing review of the Eversense 180-day product by at least 60 days due to resource reallocation for COVID-19. Notably, Eversense received inclusion in the 2021 CMS Physician Fee Schedule, improving access for Medicare patients as the company transitions distribution to Ascensia.