Shares in Senseonics (NYSE:SENS) have fallen slightly today after the continuous glucose monitoring-focused medtech company posted first quarter earnings that missed on earnings per share expectations but beat sales consensus on Wall Street.
The Germantown, Md.-based company posted losses of $22.3 million, or 16¢ per share, on sales of $2.9 million for the three months ended March 31, seeing losses grow 70.4% while sales grew 432.7% compared with the same period during the previous year.
Losses-per-share were larger than the 12¢ consensus on Wall Street, where analysts expected to see sales of $2.6 million for the quarter.
“In the first quarter, we achieved a significant milestone with the successful FDA panel advisory meeting and have made meaningful progress with commercial readiness activities in the United States. We have been simultaneously deepening our presence in the countries where Eversense is currently available, and enhancing our offering with the recent addition of the extended life Eversense XL. In the remaining time in 2018, we anticipate launching Eversense in the United States, introducing Eversense XL across the European marketplace and initiating a pivotal trial for labeling of up to 180 days of wear in the United States,” prez & CEO Tim Goodnow said in a press release.
Shares in Senseonics are down 3.7% so far today, at $3.09 as of 9:38 a.m. EDT.