Why did Senseonics Holdings Inc (NYSEAMERICAN: SENS) Soar?

Senseonics Holdings Inc (NYSEAMERICAN: SENS) closed at $2.91 on Friday, surging 42% after announcing promising results from its clinical study of the CGM system. This medical technology company is focused primarily on creating continuous glucose monitoring (CGM) system or CGM, which is marketed as a one-of-its-kind, long-term and implantable system under the name Eversense® CGM System. The study is titled PROMISE, and it evaluates the efficacy, accuracy, and safety of Eversense over 180 days. 

What’s with the results?

For the starters, PROMISE demonstrated a 93% confirmed hypoglycemic-alert detection rate for Eversense® CGM System’s primary sensor, while the rate goes up to 94% for the secondary sensor of this system. This CGM system includes a fluorescence-based sensor and a smart transmitter, which is worn over a sensor that enables data communication. The mobile app is required to receive data for glucose values, alerts, and trends. 

What more?

The positive thing is that no serious adverse repercussions came into the forefront during this study, including 181 participants. All sensors were removed successfully, and just 1.1% of these patients experienced mild infections during the procedure site. 

This study is essential since it establishes Eversense for its role in long-term implantable CGM systems, which can assist people in managing their levels of glucose. 

Next what?

The new system of Senseonics is a smart device that comes especially handy in such unprecedented times of pandemic when people with diabetes are more vulnerable. The sensor sends well-constructed data to the mobile app and displays values along with glucose alerts. It validates the Eversense® CGM System as a partner that makes diabetes an easily liveable condition. 

Even as the news sent Senseonics Holdings shooting high, the investors are still in the doubtful regime. According to the analysts reviewing the stock, it doesn’t fit into the top best 10 stocks to buy category. Nevertheless, this doesn’t put it into the box of apprehension. 

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