Senseonics Holdings Inc. (NYSEAMERICAN:SENS) fell 6.5% after announcing its financial results for the quarter ending June 30, 2021, revenue was $3.3 million. During the quarter, Ascencia Diabetes Care unveiled a US patient assistance program and direct-to-consumer online ad campaign. The patient assistance program sought to reduce out-of-pocket payments for diabetes patients, including the more than 200 million already covered. The ad campaign was to raise Eversense awareness and create new leads for patients.
The company presented the PROMISE Study showing MARD sensor accuracy of 8.5-9.1% in June at the ADA and ATTD conference with manuscript submission to a leading diabetes journal. After closing an at-the-market share offering, the company raised $50 million and used the proceeds to service debt.
CEO Tim Goodnow said that in Q2, the company made considerable progress in driving provider and patients’ awareness for Eversesne through the direct-to-consumer online ad campaign and PROMISE Study presentation. SENS is making progress, and it is worth watching in the coming weeks.
Market Reaction:
On Tuesday, SENS stock went down 6.50% at $3.04 with more than 17.47 million shares, compared to its average volume of 28.64 million shares. The stock has moved within a range of $2.8900 – 3.1200 after opening the trade at $2.95.
