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Senseonics Holdings, Inc. Reports Third Quarter 2022 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 ended September 30, 2022.\n\nRecent Highlights & Accomplishments:\n\n\nLaunched collaboration with the Nurse Practitioner Group designed to expand U.S. patient access to Senseonics’ six-month Eversense E3 System by providing additional convenient in-office and at-home sensor insertion options.\n\n\nCompleted enrollment of a pivotal trial for a 365-day sensor configuration and submitted IDE for enrollment of a pediatric cohort in the ENHANCE study.\n\n\nConcluded the full transition to Eversense E3 globally, with our commercial partner Ascensia Diabetes Care, launching E3 in all planned global markets and now only E3 systems are being shipped globally.\n\n\nInclusion of all three CPT© codes in CMS CY 2023 Medicare Physician Fee Schedule used for the Eversense E3 system with updated national pricing that accounts for the longer 6-month sensor.\n\n\nReceived positive coverage decisions from Blue Cross Blue Shield of Florida and others, adding 5 million covered lives for Eversense E3 CGM.\n\n\nGenerated revenue of $4.6 million in the third quarter of 2022.\n\n\n“Having launched the partnership with the Nurse Practitioner Group to expand access with in-home and in-office insertion options, we continue to work with Ascensia to execute and build the foundation for increased adoption of Eversense,” said Tim Goodnow, PhD, President and Chief Executive Officer of Senseonics. “Together with the recent achievement of key milestones in our clinical and R&D programs, notably enrolling a pivotal 365-day trial, we continue to advance our initiatives towards delivering the benefits of long-term implantable CGM to more patients.”\n\nThird Quarter 2022 Results:\n\nTotal revenue for the third quarter of 2022 was $4.6 million, compared to $3.5 million for the third quarter of 2021. U.S. revenue was $1.9 million in the third quarter of 2022, compared to $0.6 million in the prior year period, and revenue outside the U.S. was $2.7 million in the third quarter of 2022, compared to $2.9 million in the prior year period.\n\nThird quarter 2022 gross profit ...