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Senseonics Holdings, Inc. Reports Fourth Quarter and Full Year 2021 Financial Results
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 reported financial results for the quarter and full year ended December 31, 2021.\n\nRecent Highlights & Accomplishments:\n\n\nReceived approval from the Food and Drug Administration (FDA) for the Eversense® E3 CGM System, offering patients:\n\n\nFully implantable third generation sensor, with proprietary sacrificial boronic acid (SBA) technology to enhance sensor longevity, demonstrating a mean absolute relative difference (MARD) of 8.5% in the PROMISE Study.\n\n\nIndustry leading 6-month sensor wear duration, making Eversense the longest lasting CGM system available, with essentially two sensor insertion and removal procedures per year.\n\n\nRemovable smart transmitter, held in place with a mild silicone-based adhesive, providing discreet on-body vibratory alerts and data transmission to a mobile app where glucose values, trends, and alerts are displayed.\n\n\n\n\nInitiating E3 commercial launch in the U.S. at the beginning of April, with active transition to the 6-month system and retirement of the 90-day system\n\n\nExecuted consignment agreements with health care professionals to reduce acquisition barriers and expect to begin shipping product next week\n\n\nAchieved 8 million additional covered lives with positive coverage decisions from payors including Blue Cross Blue Shield of Michigan, Medical Mutual of Ohio, and CareSource\n\n\nReceived CE mark for Eversense NOW Remote Monitoring App for Android users\n\n\n“Following recent FDA approval, we are excited to make Eversense E3, an industry leading 6-month sensor, available to patients and health care providers in the U.S. in early April. Our partner Ascensia is establishing a newly dedicated CGM commercial organization to drive both adoption and awareness of the Eversense E3,” said Tim Goodnow, PhD, President and Chief Executive Officer of Senseonics. “We are excited to continue advancing our long-term implantable sensor pipeline and IDE pivotal study approval for our next-generation one year sensor this year.”\n\nFourth Quarter 2021 Results:\n\nTotal revenue for the fourth quarter was $4.0 million compared to $3.9...