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Tag: SENS stock

  • Senseonics Holdings, Inc. (SENS) stock declined in the current market, here is why?

    Senseonics Holdings, Inc. (SENS) stock declined in the current market, here is why?

    Senseonics Holdings, Inc. (SENS) declined in the current market after announcing FDA approval of the Eversense E3 CGM System. SENS values at $2.54, losing more than 30.41% compared to yesterday’s closing price. The stock closed at $3.65 at the end of the last trading session. The stock volume traded in the last trading session was around 11.91 million shares. The current market cap of the company is around $1.25 billion.

    The FDA’s approval

    Senseonics Holdings, Inc. (SENS) is a medical technology firm that announced today that the FDA approved the Eversense E3 CGM System. The Eversense E3 with SBA technology will be available to patients in the second quarter of 2022 through Senseonics’ global commercial partner Ascensia Diabetes Care.

    The SBA technology will result in increasing the longevity of the sensor. It has a MARD of around 8.5%. The company’s newly developed sensor is the only CGM system available in the market, having more than six months duration. The detachable transmitter could help calculate important variables like glucose, alerts, and trends.

    SENS 2022 Business Outlook

    At COVID-19, the company provided its financial outlook for 2022. In 2022 the company expects global net revenue to rise from $14 million to $18.0 million. In 2022, if the IDE is granted, the company aims to invest most of its resources on ongoing feasibility and pivotal clinical trials for new drugs in its pipeline.

    SENS expects to announce Q4 and Fiscal 2021 results on March 1, 2022

    For 2021, the company expects unaudited revenues of approximately $4.0 million. Cash and cash equivalents would be around $182 million. The company expects to announce the fourth quarter and fiscal year 2020 immediately after the market closes on March 1, 2022.

    Conclusion

    The FDA approved SENS Eversense E3 CGM System, the first and only long-term implantable CGM system. It could prove to be the company’s USP in the industry and increase its revenue significantly.

  • Senseonics Holdings Inc. (SENS) stock on the Rise in Premarket

    On February 07, 2022, Senseonics Holdings Inc. (SENS) stock continued to gain in the premarket. The company filed a Statement of Acquisition on Friday, February 04, 2022, while the stock was in an uptrend well before the filing.

    In the previous trading session, the stock gained a good 10.93% at its close of $3.35 at an above-average volume of 17.85 million shares. At the time of writing, SENS had added a further 6.87% premarket. Hence, the stock was trading at $3.58 apiece in the premarket, at the last check on Friday.

    The implantable continuous glucose monitoring systems developer, Senseonics Holdings Inc. was founded in 2014. Currently, its 445.98 million outstanding shares trade at a market capitalization of $1.49 billion.

    What is happening?

    On February 04, the company filed a Statement of Acquisition with the Securities Exchange Commission. Since the stock has been in an uptrend for over a week, there’s no surety of its recent movement being due to the filing. SENS stock has been moving up since January 28 with no official announcement to justify the move. Hence, the stock might be moving up due to external factors like social media discussions and stock sentiment.

    2022 has so far proved very fruitful for the stock since it has added 25.47% year to date. While SENS declined by 9.95% last year, it has increased by 25% in the past five days alone.

    SENS Inducement Grants

    On January 05, the company announced awarding inducement grants to its new employees under its 2019 Inducement Plan. The day before, 3 new non-executive employees were granted non-qualified stock options for buying an aggregate of 30,000 common stock shares as inducement material. The per-share exercise price of the options is $2.68, which was SENS’ closing price on NYSE on the day.

    Furthermore, the vesting period of the underlying shares is a total of four years, with 25% vesting on the employee’s first anniversary with the company. The remaining of which will vest monthly over the following three years, based on the continuation of employment.

    SENS’ Financial Analysis

    On November 9, 2021, the company announced its financial results for the third quarter of 2021, which ended on September 30.

    Therefore, in Q3 2021, SENS generated total revenue of $3.5 million against $0.8 million in the year-ago period.

    Moreover, the company had a net income of $42.9 million ($0.10/share) in Q3 22021, against a net loss of $23.4 million ($0.10/share) in Q3 2020.

  • Senseonics Holdings Inc. (SENS) stock Rallies After Hours on its Business Updates

    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.

  • Senseonics Holdings Inc (SENS) Stock Continue Upward Trend Following Results of PROMISE Study and Continued Meme Stock Craze

    Senseonics Holdings Inc (SENS) Stock Continue Upward Trend Following Results of PROMISE Study and Continued Meme Stock Craze

    Senseonics Holdings Inc (SENS) stock prices were up by a significant 10.77% as of the market closing on June 11th, 2021, bringing the price per share up to USD$4.01 at the end of the trading day. After-hours trading saw the stock continue to climb by 5.24%, bringing it up to USD$4.22.

    SENS Gains Traction on Reddit

    The recent wave of the meme stock crazy running rampant through the stock market worked in SENS’s favor. With the surge in activity regarding the stock on Reddit, the combination of high short interest and positive fundamental developments made SENS a prime target for the consort of retail investors. SENS consolidated the confidence of both existing and prospective investors with Q1 2021 reports jumping to USD$2.85 million, up from the USD$36,000 reported in the prior-year quarter.

    PROMISE Study

    The company’s stock price saw a surge that it has since maintained following the announcement on June 4th, 2021 by SENS of the results of their PROMISE study. The study was designed to evaluate the safety and accuracy of the next-gen Eversense CGM System for up to 180 days with reduced calibrations.

    Presenting Results

    The findings were presented at the University of Colorado, Denver as an oral presentation at the 14th Annual ATTD Meeting, The presentation showcased results from both the primary sensor and a secondary sensor with modified chemistry in a subset of study participants. The secondary sensor is referred to as the SBA sensor.

    Scope of CGM

    With the essential value of CGM for patients with diabetes, especially the demographic requiring insulin, SENS posits that it is imperative that more patients be enabled to utilize CGM. To this end, there needs to be a greater variety of choice in product features that leads to increases accessibility. With the accuracy profile demonstrated by Eversense in the PROMISE study, the role of long-term implantable CGM system is validated in its capacity to help people manage their glucose levels.

    Key Results of PROMISE Study

    The results reported an overall mean absolute relative difference (MARD) against reference value of 9.1% for the primary sensor, spanning 49,000 paired points. The secondary SBA sensor reported a MARD of 8.5%, spanning 12,000 paired points. The confirmed hypoglycemic alert detection rate was 93% for the primary sensor and 94% for the SBA sensor.

    Future Outlook for SENS

    Armed with both the promising results of the PROMISE study and the surge in value of its equity from Reddit-driven retail investors, SENS is poised to capitalize on the opportunities presented to it. The company is keen to use this momentum to establish a continued trajectory of success. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.