- The stock price of Senseonics Holdings Inc (NYSEAMERICAN: SENS) increased by over 8% pre-market. These are the details.
The stock price of Senseonics Holdings Inc (NYSEAMERICAN: SENS) – a medical technology company focused on the development and commercialization of the first and only long-term and implantable continuous glucose monitoring (CGM) system called the Eversense CGM System – increased by over 8% pre-market. This is a continuation in momentum from the previous trading session as it increased 10.77%, going from a previous close of $3.62 to $4.01.
There has been recent news from Senseonics Holdings and the company has also become a favorite amongst retail investors active on social media who have cited the company has a short squeeze candidate. Earlier this month, Senseonics Holdings had 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.
This 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), as an oral presentation at the 14th Annual ATTD Meeting. And the results were presented for both the primary sensor and for a secondary sensor with modified chemistry (referred to as the SBA sensor) in a subset of study participants.
“The value of CGM for patients with diabetes, especially those requiring insulin, is unquestioned,” said study PI Dr. Satish Garg in a statement. “To enable more patients to utilize CGM, there needs to be choice in product features. The accuracy profile demonstrated by Eversense in the PROMISE Study validates the role that long-term implantable CGM systems can play in helping people manage their glucose levels.”
The Eversense CGM System consists of a fluorescence-based sensor, a smart transmitter worn over the sensor to facilitate data communication, and a mobile app to display glucose values, trends, and alerts. And in addition to featuring the first long-term and first implantable CGM sensor, the system is also first to feature a smart transmitter that provides wearers with discreet on-body vibratory alerts for high and low glucose and can be removed, recharged and re-attached to the skin without discarding the sensor. Plus Eversense users are able to make treatment decisions based on their Eversense readings in the US. The sensor had inserted subcutaneously in the upper arm by a health care provider via a brief in-office procedure.
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