On January 04, Senseonics Holdings Inc. (SENS) announced operational and financial business updates. Consequently, the stock was trading at $3.22 apiece in the after-hours on Tuesday.
During the regular session, the stock remained in the red with a loss of 2.55% at its close of $2.68. Following the announcement, SENS became bullish in the after hours. Hence, the stock added a huge 20.15% at an after-hours volume of 6.83 million shares.
The glucose monitoring systems designer for diabetes, Senseonics Holdings Inc. was founded in 2014. Currently, its 445.98 million outstanding shares trade at a market capitalization of $1.23 billion.
SENS Business Updates
According to the financial and operational updates of the company:
- The FDA review for PMA supplement for Eversense 180-day CGM system is almost complete. Moreover, it is expected that the approval will be received in the coming weeks.
- For the effortless transition to the 180-day systems in the U.S upon the pending FDA approval, multiple plans have been placed in action with Ascensia Diabetes Care. Furthermore, these plans include marketing campaigns, payor engagement regarding reimbursement, and coverage transitions.
- SENS also reiterated its financial outlook for full-year 2021. As per the reiteration, the 2021 global net revenue is now expected to be in the range of $12.0 million and $15.0 million.
Eversense® NOW
Eversense® NOW is the company’s remote monitoring app for the Android operating system. Recently, the company announced receiving a CE mark in Europe for the Eversense® NOW. Previously, it had been approved and is available in Europe currently.
Through the Eversense NOW app, the friends and family of the user can access and view real-time glucose data, trend graphs and receive alerts remotely. Hence, adding more to the user’s peace of mind.
In addition, the app is expected to be available on the Google PlayTM Store in the first quarter of 2022.
SENS’s Financial Highlights
The company declared its financial results for the third quarter of 2021, on November 09.
In the third quarter of 2021, SENS generated total revenues of $3.5 million, against $0.8 million in the year-ago quarter.
Further, the company generated a net income of $42.9 million in the third quarter of 2021. This compares to a net loss of $23.4 million in the Q3 of 2020. Subsequently, the net income per share was $0.10 in Q3 of 2021, compared to the net loss per share of $0.10 in Q3 of 2020.
