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

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Senseonics Holdings Inc. (SENS) shares soared 20.15% in after-hours on Tuesday, January 04, 2021, and closed the daily trading at $3.22. However, in the regular trading session of Tuesday, SENS’s stock lost 2.55%. SENS shares have risen 182.11% over the last 12 months, and they have moved up 0.37% in the past week. Over the past three months, the stock has lost 18.04%, while over the past six months, it has declined 14.10%.

Let’s discuss its recent news and developments.


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SENS latest business updates

On January 04, 2022, Senseonics Holdings, Inc. (SENS), announced operational and financial business updates.

  • Senseonics Holdings PMA supplement for the next generation Eversense 180-day CGM system review by the FDA is nearly completed. The company has answered all queries raised by the FDA and an approval decision is expected in the coming weeks.
  • Another FDA approval is pending for designing plans with Ascensia Diabetes Care for a smooth transition to the 180-day system in the U.S. The approval is expected in the coming weeks.
  • The company is expecting net revenue to be in the range of $12.0 million to $15.0 million for FY 2021.

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CE mark for SENS Remote monitoring App in Europe

On December 21, 2021, Senseonics Holdings, Inc. (SENS) received the CE mark of the Eversense® NOW Remote Monitoring App for the Android Operating System and will be available in Q1 2022 for the users. The Eversense NOW iOS platform has previously been approved and is currently available in Europe.

SENS latest financial results

On November 09, 2021, Senseonics Holdings, Inc. (SENS), released its financial results for the quarter ended September 30, 2021.

Q3 2021 financial highlights

  • SENS reported total revenue of $3.5 million in the third quarter of 2021 compared to $0.8 million for the third quarter of 2020.
  • In Q3 2021, the gross loss was $1.2 million compared to the gross profit of $835,000 in Q3 2020.
  • General and administrative expenses were $5.12 million in Q3 2021 compared to $5.5 million in Q3 2020.
  • Research and development expenses were $7.2 million in Q3 2021 compared to $4.6 million in Q3 2020.
  • It earned a net income of $42.9 million, or $0.10 per share, in the third quarter of 2021, compared to a net loss of $23.4 million, or $0.10 per share, in the third quarter of 2020.
  • The company ended the third quarter with cash, cash equivalents, short and long-term investments of $201.1 million, and outstanding indebtedness of $109.1 million.

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Conclusion

Well, the recent business update was the reason behind its after-hours gains on Tuesday. We hope that it will continue its momentum on Wednesday as well.

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