Here’s Why Shares of Senseonics Got Hammered Today
Shares of Senseonics (NYSEMKT: SENS) are down 20% at 11:51 a.m. EST after the diabetes-device company reported dismal third-quarter results after the bell yesterday.
Revenue came in at just $4.3 million as Senseonics struggles to launch its Eversense implantable constant glucose monitoring system.
Senseonics grossed $2.1 million in U.S. sales, but that was written down to just $0.5 million in net sales, because the company offers discounts through its Bridge Program to patients who don't have insurance coverage for the device and procedure. About half of the patients have participated in the Bridge Program in some form.
Source Fool.com
