Senseonics launches public stock offering and private placement

GERMANTOWN, Md. - Senseonics Holdings, Inc. (NYSE American: SENS), a developer of implantable glucose monitoring systems for diabetes management with a market capitalization of approximately $356 million, announced today its initiation of a public offering of common stock. According to InvestingPro data, the company has been rapidly burning through cash while maintaining a moderate debt level. Concurrently, the company expects to grant underwriters a 30-day option to buy additional shares. The offering is made under a shelf registration statement effective since September 12, 2023.

TD Cowen and Barclays are serving as joint book-running managers for the offering, with RBC Capital Markets and Lake Street as bookrunners. The completion and terms of the offering are subject to market conditions, and no assurance can be provided regarding its finalization or specifics.

In a separate transaction, Abbott Laboratories has agreed to purchase up to $25 million of Senseonics’ common stock in a private placement, contingent upon the public offering’s closure. This news comes as the stock has experienced significant volatility, with a 105% surge over the past six months despite a recent 21% decline in the past week. Proceeds from both the public offering and private placement are intended for the launch of Eversense 365, product development, and general corporate purposes. InvestingPro subscribers have access to 11 additional key insights about Senseonics’ financial health and market position.

The medical technology firm’s Eversense® systems involve a subdermal sensor paired with a smart transmitter, providing continuous glucose data to a mobile app.

The proposed offering’s final terms will be detailed in a final prospectus supplement filed with the SEC. This press release does not constitute an offer to sell or a solicitation of an offer to buy securities.

Senseonics’ forward-looking statements indicate expectations for the offering’s size, timing, and anticipated proceeds usage, but actual results may vary due to market conditions and other factors. While the company maintains a healthy current ratio of 6.88 and analysts have set price targets ranging from $2.00 to $2.50, the company cautions that these statements are not guarantees of future performance. Detailed analysis and comprehensive research reports for Senseonics and 1,400+ other US stocks are available exclusively on InvestingPro.

This news article is based on a press release statement from Senseonics Holdings, Inc.

In other recent news, Senseonics Holdings Inc. reported its Q1 2025 earnings, revealing a mixed financial performance. The company’s earnings per share (EPS) of -$0.02 surpassed the forecasted -$0.03, but revenue fell short, coming in at $6.3 million against a forecast of $6.92 million. Despite the revenue miss, the company achieved a 24% year-over-year growth in net revenue and reduced its net loss to $14.3 million from $18.9 million in the same quarter last year. Senseonics also launched the Eversense 365 continuous glucose monitor and reduced its debt to $35.3 million. The company announced forward guidance focusing on expanding its global patient base, with a projected global net revenue between $34 million and $38 million for 2025. Additionally, Senseonics plans to launch its products in the European market in the latter half of 2025. The company has also integrated its Eversense 365 system with Sequel’s Twist automated insulin delivery system, aiming to enhance patient experience and streamline diabetes management.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.