Senseonics Holdings Inc (NYSEAMERICAN: SENS) Stock Targets $5.0

Senseonics Holdings Inc (NYSEAMERICAN: SENS) stock breakout and trades at $3.07 (down 10.5%) on June 9, 2021. If it sustains this level, the stock can easily reach $5 and above.

The stock gained 43% on June 4, 2021, because Senseonics posted impressive clinical results of its implantable CGM (continuous glucose monitoring) system. 

Eversense CGM monitors glucose levels in diabetic patients and alerts them about patients’ hypoglycemic levels. In a six-month trial, the system showed a detection rate of 93% using the primary sensor and 94% with the second sensor (SBA sensor).  

The Eversense CGM system comprises a smart transmitter for data transfer. A mobile app is required to show glucose levels and alerts. 

No adverse events in CGM system the clinical study

Senseonics did not observe any serious side effects in 181 patients fitted with CGM system over a six-month study. It removed all the sensors after the clinical trials. However, just 1.1% of the patients in the trial experienced mild infection.

The study’s principal investigator, Satish Garg, said Eversense CGM demonstrated an accurate profile in the clinical trial that shows its effectiveness to help patients manage their blood glucose levels in the long term.

How to install this device and monitor glucose levels?

A medical surgeon implants the CGM system subcutaneously in the patients’ upper arm. The patients then wear a smart device over the sensor to transmit data to a mobile app to show glucose levels and give alerts. It is a boon for diabetic patients to manage their blood glucose levels and live with it.

Senseonics’ CEO, Tim Goodnow, said the company is excited with the PROMISE study results that demonstrated accuracy and safety profile in patients over six months. 

The company awaits confirmation from the European and US regulatory agencies for its premarket submission of the data gathered from the secondary and primary sensors. Senseonics would introduce CGM system in Europe and the US through Ascensia Diabetes Care, its commercialization partner.

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