Senseonics Holdings, Inc. Common Stock
SENSSenseonics Holdings, Inc. (SENS) is a medical technology company that develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Known for its implantable Eversense CGM system, the company aims to improve diabetes management through innovative, long-term sensor solutions that provide real-time glucose data.
Company News
Senseonics reported Q3 preliminary revenue of $8.1 million, a 91% year-over-year increase, but announced a 1-for-20 reverse stock split that reduced outstanding shares from 816 million to 41 million, causing stock price to drop.
Senseonics Holdings, Inc. announced the closing of a public offering of 115 million shares of its common stock, raising $57.5 million in gross proceeds. The company also closed a private placement with Abbott Laboratories, who acquired 40.5 million shares for $20.3 million. The proceeds will be used to fund the launch of Eversense 365 and develop...
The global diabetes care devices market is expected to grow from $15.3 billion in 2023 to $26.8 billion by 2029, driven by the rising prevalence of diabetes and the increasing adoption of advanced technologies like continuous glucose monitoring systems.
Senseonics reported strong preliminary 2024 results, including revenue growth and increased patient base. The company also received FDA approval for its Eversense 365 CGM system and saw positive early launch indicators. However, the company has decided to cancel a previously announced special meeting to consider a reverse stock split.
The FDA has cleared the Eversense 365 CGM system, which provides one year of continuous glucose monitoring for people with diabetes. This represents a significant breakthrough in diabetes technology, offering longer sensor life, improved accuracy, and seamless integration with other devices.
