Business
Senseonics Holdings, Inc. Reports Fourth Quarter and Full Year 2022 Financial Results
Senseonics, PHC Holdings Corporation and Ascensia Diabetes Care Joint Eversense CGM Virtual Analyst and Investor Event to begin March 15th, 2023 at 6:30pm ET
About this update from Senseonics Holdings, Inc.
[{"type":"text","content":"\nSenseonics, PHC Holdings Corporation and Ascensia Diabetes Care Joint Eversense CGM Virtual Analyst and Investor Event to begin March 15th, 2023 at 6:30pm ET\n\n 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, 2022.\n\nRecent Highlights & Accomplishments:\n\n\nGenerated fourth quarter 2022 revenue of $5.6 million and full year 2022 revenue of $16.4 million.\n\n\nAchieved full year of gross profit for the first time in the Company’s history.\n\n\nAccelerated the 365-day sensor program by fully enrolling the ENHANCE trial adult cohort with the 365-day sensor configuration in Q3 22 and advanced the program further by receiving FDA IDE approval for the enrollment of a pediatric cohort.\n\n\nExpanded the Nurse Practitioner Group partnership, focused on increasing U.S. patient access to E3 by providing additional convenient in-office and at-home sensor insertion options, into over 20 total geographic markets to date.\n\n\nCMS Calendar Year 2023 Medicare Physician Fee Schedule initiated updates to national pricing that accounts for the longer 6-month sensor for all three CPT codes used for the Eversense E3 system.\n\n\nClosed additional financing from PHC Holdings consisting of a $15 million equity investment in Senseonics on March 13, 2023 and concurrently signed an agreement to exchange the $35 million convertible note for equity.\n\n\n“2022 was a year of notable progress in building the Eversense business, with FDA approval, CE mark and global launch of the E3 system and the acceleration of a pivotal trial for a 365-day sensor configuration that we plan will also support both ICGM and a pediatric indication,” said Tim Goodnow, PhD, President and Chief Executive Officer of Senseonics. “Together with establishing the Nurse Practitioner Group partnership, expanding E3 coverage from Medicare and commercial payers, and coordinating expansion of the Ascensia U.S. salesforce, we have further advanced important initiatives to help bring the benefits of Eversense long-term implantable CGM to growing numbers of patients.”\n\nFourth Quarter 2022 Results:\n\n...