Expected net revenue increased

AMEX:SENS   Senseonics Holdings, Inc
Fourth quarter 2020 net revenue is expected to be approximately $3.5 million, increased from the prior expectation of approximately $2.5 million

Received communication from the FDA explaining the reallocation of agency resources to address Emergency Use Authorization ( EUA ) applications for products related to the COVID-19 public health emergency is affecting marketing application reviews, including the Eversense 180-day product, which will be delayed by at least 60 days. This is consistent with what Senseonics understands other medical technology companies have reported.

Inclusion of Eversense Category III CPT codes in the Centers for Medicare & Medicaid Services ( CMS ) 2021 Physician Fee Schedule ( PFS ), establishing global payment for the device cost and procedure fees for healthcare providers across the United States

Full year 2021 net revenue is expected to be between $12 and $15 million, based on installed base, acceleration of Ascensia’s commercial activities and other factors

Reached agreement with Roche to facilitate transition of distribution to Ascensia, as Roche sales conclude January 31, 2021, including final purchases, transition support activities, and resolution of other matters

Highbridge second lien loan extinguished through completed conversion of their second lien debt to common stock, simplifying capital structure

"Strong fourth quarter performance was driven by sales in Europe and supported by Ascensia’s initial US sales."

We remain confident that the PROMISE study demonstrates that the excellent performance of the current Eversense system is extended for up to 180 days, and that there still is potential for a decision from the agency by the end of the end of the second quarter


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