Business
Senseonics Holdings, Inc. Provides Business Update and Full Year 2024 Financial Outlook
GERMANTOWN, Md.--(BUSINESS WIRE)-- Senseonics Holdings, Inc. (NYSE American: SENS), a medical technology company focused on the development and manufacturing
About this update from Senseonics Holdings, Inc.
[{"type":"text","content":" GERMANTOWN, Md.--(BUSINESS WIRE)--\nSenseonics Holdings, Inc. (NYSE American: SENS), a medical technology company focused on the development and manufacturing of long-term, implantable continuous glucose monitoring (CGM) systems for people with diabetes, today announced business updates and provided its full year 2024 financial outlook.\n\n\nBusiness Updates\n\n\n\nReaffirmed global net revenue for the first half of 2024 is expected to be $10 million, representing growth of approximately 21% compared to the first half of 2023\n\n\n\nGenerated over 200% more new patient starts in the US in the first half of 2024 compared to the first half of 2023\n\n\n\nFDA review of the 510(k) submission for the next-generation 365-day, once a week calibration, Eversense® system currently advancing as planned to enable a fourth quarter 2024 launch\n\n\n\nInitiated provider training and patient identification with Mercy Health as part of the collaboration, ahead of targeted first insertions in the third quarter of 2024 and planned acceleration in the fourth quarter of 2024\n\n\n\n“We have been executing our business plan in the first half of 2024. Key milestones to support adoption of Eversense include increasing new patient starts, receiving the iCGM designation, submitting a 510(k) to the FDA for the 365-day Eversense system, and launching our collaboration with Mercy Health,” said Tim Goodnow, PhD, President and Chief Executive Officer of Senseonics. “The Eversense platform now sits in its strongest position of all time. We are working diligently to convert two significant growth opportunities—the anticipated launch of our 365-day product together with the new leadership at Ascensia Diabetes Care and the Mercy collaboration. We believe the prospect of delivering a CGM system to patients that can last for one year, with just one calibration per week, and the potential to make Eversense CGM + RPM a systemic solution with a health system the scale of Mercy both present the opportunity to enable transformative growth for Senseonics.”\n\n\nFull Year 2024 Financial Outlook\n\n\nSenseonics expects full year 2024 global net revenue to be in the range of $22 million to $24 million. The full year 2024 financial outlook assumes more than doubling the U.S. new patient starts and increasing the global installed base by approximately 50% in 2024 compared t...