Senseonics Holdings Inc. (SENS) shares declined 8.00% in after-hours on Monday, August 09, 2021, and closed the daily trading at $2.99. Earlier in the regular trading session of Monday, SENS’s stock gained 0.93%. SENS shares have risen 582.77% over the last 12 months, and they have moved up 4.17% in the past week. Over the past three months, the stock has gained 80.56%, while over the past six months, it has declined 12.63%.
Let’s have a brief look at its recent news.
SENS latest financial results announcement
On August 09, 2021, Senseonics Holdings, Inc. (SENS), announced its financial results for the quarter ended June 30, 2021.
Q2 2021 financial highlights
- SENS earned revenue of $3.29 million for the second quarter of 2021compared to $0.26 million for the second quarter of 2020.
- The gross profit was -$0.39 million in Q2 2021 compared to -$1.14 million in Q2 2020.
- In Q2 2021, sales and marketing expenses were $1.64 million compared to $3.142 million in Q2 2020.
- In Q2 2021, research and development expenses were $7.11 million compared to $3.8 million in Q2 2020.
- It suffered a net loss of $180.32 million, or $0.42 per share, in the second quarter of 2021, compared to $7.52 million, or $0.03 per share inQ2 2020.
- The company had cash, cash equivalents, short and long-term investments of $215.0 million and outstanding indebtedness of $109.9 million on June 30, 2021.
Financial Outlook for FY 2021
For FY 2021, SENS is expecting net revenue to be in the range of $12.0 million to $15.0 million.
SENS announced equity grants
On July 02, 2021, Senseonics Holdings, Inc. (SENS), announced equity grants to new employees under its 2019 Inducement Plan following NYSE American Company Guide Section 711(a).
Senseonics Compensation Committee granted 5 new non-executive employees non-qualified stock options to purchase an aggregate of 66,000 shares of the Company’s common stock as an inducement for such employees to join the Company.
SENS Eversense CGM System data presentation
Senseonics Holdings, Inc. (SENS), did a further presentation of PROMISE Study data evaluating the next generation Eversense CGM System at the American Diabetes Association Virtual 81st Annual Scientific Sessions.
The data was presented by Satish Garg, MD, Professor of Medicine at the Barbara Davis Center of the University of Colorado, Denver, and the study group Principal Investigator (PI). Both primary and secondary sensor results were presented with modified chemistry.
Overall mean absolute relative difference (MARD) against reference value was 9.1% for the primary sensor over 49,000 paired points and 8.5% for the SBA sensor over 12,000 paired points.
Conclusion
SENS stock went down after the company reported poor financial performance for Q2 2021 and we can expect it to further decline in the coming days.
