Senseonics Holdings, Inc. Provides Business Update and Full Year 2024 Financial Outlook
21 Giugno 2024 - 10:05PM
Business Wire
Senseonics 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 announced business updates and
provided its full year 2024 financial outlook.
Business Updates
- Reaffirmed global net revenue for the first half of 2024 is
expected to be $10 million, representing growth of approximately
21% compared to the first half of 2023
- Generated over 200% more new patient starts in the US in the
first half of 2024 compared to the first half of 2023
- FDA review of the 510(k) submission for the next-generation
365-day, once a week calibration, Eversense® system currently
advancing as planned to enable a fourth quarter 2024 launch
- Initiated provider training and patient identification with
Mercy Health as part of the collaboration, ahead of targeted first
insertions in the third quarter of 2024 and planned acceleration in
the fourth quarter of 2024
“We have been executing our business plan in the first half of
2024. Key milestones to support adoption of Eversense include
increasing new patient starts, receiving the iCGM designation,
submitting a 510(k) to the FDA for the 365-day Eversense system,
and launching our collaboration with Mercy Health,” said Tim
Goodnow, PhD, President and Chief Executive Officer of Senseonics.
“The Eversense platform now sits in its strongest position of all
time. We are working diligently to convert two significant growth
opportunities—the anticipated launch of our 365-day product
together with the new leadership at Ascensia Diabetes Care and the
Mercy collaboration. We believe the prospect of delivering a CGM
system to patients that can last for one year, with just one
calibration per week, and the potential to make Eversense CGM + RPM
a systemic solution with a health system the scale of Mercy both
present the opportunity to enable transformative growth for
Senseonics.”
Full Year 2024 Financial Outlook
Senseonics expects full year 2024 global net revenue to be in
the range of $22 million to $24 million. The full year 2024
financial outlook assumes more than doubling the U.S. new patient
starts and increasing the global installed base by approximately
50% in 2024 compared to 2023. Inventory dynamics associated with
the 365-day product launch are expected to impact third quarter
product sales, with sales expected to accelerate in the fourth
quarter based on 365-day product sales and the Mercy collaboration.
Cash utilization in 2024 is expected to be consistent with 2023 at
approximately seventy million dollars.
Business Update and Analyst Event Webcast
Information:
Company management will host a business update and analyst event
at 10:00 am (Eastern Time) on Sunday, June 23, 2024. Interested
parties may access a live and recorded webcast of the presentation
on the “Investor Relations” section of the company’s website at
www.senseonics.com.
About Senseonics
Senseonics Holdings, Inc. (“Senseonics”) is a medical technology
company focused on the development and manufacturing of glucose
monitoring products designed to transform lives in the global
diabetes community with differentiated, long-term implantable
glucose management technology. Senseonics’ CGM system Eversense® E3
includes a small sensor inserted completely under the skin that
communicates with a smart transmitter worn over the sensor. The
glucose data are automatically sent every 5 minutes to a mobile app
on the user’s smartphone.
Forward Looking Statements
Any statements in this press release about future expectations,
plans and prospects for Senseonics, including the revenue and
patient start projections and sales expectations under “Full Year
2024 Financial Outlook”, statements regarding the integration of
the Eversense CGM and the Eversense RPM solution within the Mercy
health care system and the potential impact of the program, the
adoption and growth of Eversense, statements regarding expected
regulatory approvals and timing of the potential commercial launch
of the 365-day product, and other statements containing the words
"believe," “expect,” “anticipate,” “intend,” “may,” “projects,”
“will,” “planned,” and similar expressions, constitute
forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those indicated by such forward-looking statements
as a result of various important factors, including: uncertainties
inherent in the execution of the independent business unit of
Ascensia Diabetes Care, the Company’s commercialization partner for
Eversense, and other commercial initiatives, uncertainties in
insurer, regulatory and administrative processes and decisions,
uncertainties inherent in the development and registration of new
technology and solutions, uncertainties inherent in finalizing
integration and commercial terms with new partners and other third
parties, uncertainties inherent in the ongoing commercialization of
the Eversense product and the expansion of the Eversense product
and a new RPM solution, uncertainties relating to the current
economic environment and such other factors as are set forth in the
risk factors detailed in Senseonics' Quarterly Report on Form 10-Q
for the quarter ended March 31, 2024, the Annual Report on Form
10-K for the year ended December 31, 2023, and Senseonics' other
filings with the SEC under the heading "Risk Factors." In addition,
the forward-looking statements included in this press release
represent Senseonics’ views as of the date hereof. Senseonics
anticipates that subsequent events and developments will cause
Senseonics’ views to change. However, while Senseonics may elect to
update these forward-looking statements at some point in the
future, Senseonics specifically disclaims any obligation to do so
except as required by law. These forward-looking statements should
not be relied upon as representing Senseonics’ views as of any date
subsequent to the date hereof.
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Senseonics Investor Contact Philip Taylor Gilmartin Group
415-937-5406 Investors@senseonics.com
Grafico Azioni Senseonics (AMEX:SENS)
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Da Ago 2024 a Set 2024
Grafico Azioni Senseonics (AMEX:SENS)
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Da Set 2023 a Set 2024