Shares in Senseonics (NYSE:SENS) fell today after the medical device maker missed EPS expectations but met sales estimates on Wall Street with its third quarter financial results.
The Germantown, Md.-based company posted a net loss of -$31.9 million on sales of $5.2 million for the 3 months ended Sept. 30. Quarterly net losses were up 83% on sales growth of 146% compared with the same period last year.
Earnings per share were -14¢, falling just behind consensus on The Street.
“The third quarter was a particularly exciting time for Senseonics with the U.S. launch of the Eversense system. Feedback from our first users has been exceptional across both patient and healthcare professional communities,” president & CEO Tim Goodnow said in prepared remarks.
“As we look ahead, we are pleased with the early progress we are making to establish reimbursement and broaden patient and physician access to Eversense. Simultaneously, we are continuing to develop our clinical pipeline. We look forward to expanding our reach as we bring this life-changing technology to people with diabetes,” Goodnow added.
SENS shares were trading at $3.55 apiece today in morning activity, down -10.6%.
Earlier this week, Senseonics won another FDA approval for its implantable continuous glucose monitoring system, giving nurse practitioners and physicians assistants the ability to implant and remove the Eversense device.
When the product was first approved by the FDA in June, only trained physicians were allowed to conduct the sensor insertion and removal procedures.
