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Senseonics Holdings, Inc. Reports Fourth Quarter and Full Year 2019 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 a long-term, implantable continuous glucose monitoring (CGM) system for people with diabetes, today reported financial results for the fourth quarter and full year ended December 31, 2019.\n\n\nRecent Highlights & Accomplishments: \n\n\n\nFourth Quarter total net revenue of $9.0 million\n\n\nOUS net revenue of $8.1 million\n\n\nU.S. net revenue of $0.8 million after accounting for gross to net reductions, primarily related to the Eversense® Bridge Program\n\n\nU.S. gross revenue was $2.5 million. Reconciliations of net revenue and net U.S. revenue to gross revenue and U.S. gross revenue, respectively, have been provided in the tables following the financial statements in this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures”\n\n\n\n\nExceeded the 2019 goal of 100 million covered lives through positive coverage decisions from Cigna, Humana, Health Care Service Corporation (HCSC), and BC/BS Hawaii\n\n\nReceived approval to continue the PROMISE study for 365 days in an extended cohort to gather feasibility data\n\n\nPublished positive longitudinal data in Diabetes Technology and Therapeutics demonstrating Eversense performance over four sensor cycles was stable and did not decrease over time\n\n\nLaunched the Eversense CGM System with a Non-Adjunctive Claim in the U.S., enabling diabetes patients to make treatment decisions from Eversense data, including insulin dosing\n\n\n\n“We completed several milestones in 2019 including significantly raising awareness and broadening patient access for the Eversense CGM system as well as expanding the installed base of patients in the U.S. In addressing commercial headwinds, the Eversense Bridge Program and Certified Eversense Specialist initiatives are successfully building the foundation and proper infrastructure to seamlessly integrate Eversense in the diabetes treatment ecosystem,” said Tim Goodnow, PhD, President and Chief Executive Officer of Senseonics. “In addition, professional awareness continues to grow through data publications in peer reviewed journals and podium presentations. As we enter 2020, we are confident we are positioned to drive growth and...