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Here is why Senseonics Holdings Inc. (SENS) stock rallied in the after-market on Thursday?

Senseonics Holdings Inc. (SENS) shares surged 40.0% in after-market on Thursday, June 3, 2021, and close the session at $2.87 per share. Earlier, in the morning session, SENS’s stock lost 1.91% to close Thursday’s session at $2.05. SENS shares have risen 378.97% over the last 12 months, and they have moved up 4.06% in the past week. Over the past three months, the stock has lost 23.79%, while over the past six months, it has soared 426.59%.

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Let’s have a look at SENS recent developments


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Results of Eversense CGM System

On June 3, 2021, Senseonics Holdings, Inc announced the results of the PROMISE Study evaluating the accuracy and safety of the next generation Eversense CGM System for up to 180 days with reduced calibrations.

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The data was presented at the 14th Annual ATTD Meeting in an oral presentation 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.

Recent financial results

On May 13, 2021, Senseonics Holdings released its financial results for the Frist quarter of 2021 which ended March 31, 2021.

Q1 2021 financial highlights

FY2021 financial outlook

For FY 2021, the company is expecting revenue to be in the range of $12.0 million to $15.0 million.

Equity Grants

On April 1, 2021, Senseonics Holdings, Inc announced equity grants to new employees under its 2019 Inducement Plan under NYSE American Company Guide Section 711(a).

5 new non-executive employees were granted non-qualified stock options to purchase an aggregate of 62,000 shares of the Company’s common stock at $2.58 per share.

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Conclusion

The SENS stock rallied in the after-market on Thursday after the company announced the positive results for Eversense CGM System which were quite impressive. SENS stock can continue its rally on Friday as well.

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