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Senseonics Blossoms in Favorable CGM Environment

Image courtesy of Dennis Diatel / Alamy Stock Photo IMG_2022-5-13-151739.jpg
The Germantown, MD-based company beat revenue consensus and maintained guidance.

Companies that are primarily continuous glucose management seem to be having a significant level of success in 2022. The latest CGM specialist to have success is Senseonics.

The Germantown, MD-based company reported revenue of $2.5 million above consensus of $2.2 million. The company also maintained its revenue guidance of $14 million to $18 million.

Some of the reasons for the success with revenue was because of the launch of the 180-day Eversense CGM in April.

Senseonics won FDA approval for Eversense in February. The company is currently developing a 365-day version of the device.

Marie Thibault, an analyst with BTIG and former managing editor of MD+DI, said Senseonics was off to a “solid start” for the year. Thibault said there could be some significant news about the 365-day version of the device on the horizon.

“First data from the 365-day pilot trial will be presented at the American Diabetes Association (ADA) conference next month,” Thibault wrote in research notes. “The company anticipates the first patients in the pivotal trial will be inserted with the longer duration sensor in 4Q22.”

 

 

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