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Senseonics Holdings, Inc. Reports First Quarter 2021 Financial Results
GERMANTOWN, Md.--(BUSINESS WIRE)-- Senseonics Holdings, Inc. (NYSE American: SENS), a medical technology company focused on the development and
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 commercialization of long-term, implantable continuous glucose monitoring (CGM) systems for people with diabetes, today reported financial results for the quarter ended March 31, 2021.\n\nRecent Highlights & Accomplishments: \n\n\nGenerated first quarter 2021 revenue of $2.85 million primarily driven by sales in the E.U.\n\n\nFDA review resumed in mid-April with the assignment of a lead reviewer to the Eversense® 180-day PMA supplement application.\n\n\n“The PROMISE Study: An Evaluation of the Safety and Accuracy of the Next Generation 180-Day Long-term Implantable Eversense CGM System” to be presented in June at the ATTD and ADA conferences and manuscript submitted to major diabetes journal.\n\n\nTeamed with University Hospitals Accountable Care Organization as the first ACO to adopt Eversense for use in their Medicare population.\n\n\nStrengthened balance sheet by raising $175 million of proceeds from financing transactions.\n\n\nDecreased first quarter 2021 operating loss by $32.52 million compared to the prior year period.\n\n\nAdvanced commercial collaboration with Ascensia Diabetes Care\n\n\nAscensia assumed full commercialization for the Eversense® CGM in the U.S. on April 1, 2021 and for the Eversense® XL CGM in select European markets on February 1, 2021.\n\n\nAscensia completed the hiring and training of 25 Eversense sales professionals in the U.S. and additional support roles including inside sales, clinical support, market access and customer care professionals in addition to the existing commercial organization of over 250 professionals in European countries active with Eversense.\n\n\nAscensia launched a U.S. direct-to-consumer advertising campaign for Eversense in early Q2.\n\n\n“We are very pleased with our start to 2021 including the transfer of worldwide Eversense commercial activity to Ascensia. In the U.S. there are now 25 sales representatives trained and actively calling on existing Eversense accounts and targeting top insulin prescribers to further drive adoption of our CGM system,” said Tim Goodnow, PhD, President and Chief Executive Officer of Senseonics. “As part of their U.S. commercial efforts, Ascensia has launched a direct-to-consumer ad campaign aimed at ...