Senseonics (NYSE:SENS) shares took a hit today on fourth-quarter losses that missed the consensus earnings forecast.
SENS shares were hit hard at market close yesterday after financial results were released, dipping -15.7% to $2.69 per share. In pre-market trading this morning, they are down -7.8% at $2.48 per share.
The Germantown, Md.-based implantable continuous glucose monitor maker posted losses of -$101.6 million, or -41¢ per share, on sales of $3.9 million for the three months ended Dec. 31, 2020, for a massive bottom-line slide from losses of -$35.6 million this time a year ago on a sales decline of -56.7%.
Adjusted to exclude one-time items, earnings per share were -12¢, 3¢ behind Wall Street, where analysts were looking for sales of $3.1 million.
“We are very pleased with our fourth-quarter results, our commercial collaboration agreement with Ascensia, and the success of our recent financings. These steps conclude a strategically transformational year for Senseonics,” Senseonics president & CEO Tim Goodnow said in a news release. “We believe Ascensia’s commercial experience and global footprint will help grow the market for Eversense in 2021 and beyond.
“We are working with Ascensia to further expand commercial activity in the coming months. These collaborative efforts include developing plans for new programs designed to raise patient and provider awareness, reduce patient cost, and continually expand global access for Eversense.”
Senseonics said it expects global revenues for the full year 2021 to come in the range of between $12 million and $15 million.
