| Market Capitalization (Millions $) |
430 |
| Shares
Outstanding (Millions) |
46 |
| Employees |
132 |
| Revenues (TTM) (Millions $) |
39 |
| Net Income (TTM) (Millions $) |
-87 |
| Cash Flow (TTM) (Millions $) |
-10 |
| Capital Exp. (TTM) (Millions $) |
1 |
Business Description
We are a medical technology firm focusing on the research and production of glucose monitoring solutions with distinctive, long-term implanted glucose management technologies to change lives in the worldwide diabetic community. Our Eversense, Eversense XL, and Eversense E3 continuous glucose monitoring (CGM) systems are designed to continuously and accurately measure glucose levels in people with diabetes using an under-the-skin sensor, a removable and rechargeable smart transmitter, and a convenient app for real-time diabetes monitoring and management for up to six months, versus seven to 14 days for non-implantable CGM systems.
We believe that Eversense provides a more convenient method of CGM by providing longer duration, superior accuracy, wireless communication, on-body vibratory alerts, gentle-on-the-skin adhesive patch, data sharing capability, and a removable smart transmitter. We affixed the CE mark to the original Eversense CGM system in June 2016, which marked the first certification for the product to be sold within the European Economic Area, or EEA. Subsequently, we affixed the CE mark to the extended life Eversense XL CGM system in September 2017 which is currently available in select markets in Europe and the Middle East. In June 2018, the U.S. Food and Drug Administration, or FDA, approved the Eversense CGM system. In June 2019, we received FDA approval for the non-adjunctive indication (dosing claim) for the Eversense system. With this approval and the availability of a new app in December 2019, the Eversense system can now be used as a therapeutic CGM in the United States to replace fingerstick blood glucose measurement to make treatment decisions, including insulin dosing.
As with any new product, the success of the commercial launch of the Eversense E3 product in the U.S. will be subject to significant uncertainty and risks, and will require time to ramp up. Key areas of strategic focus in the U.S. commercial launch of the six month product where performance will impact the success of the launch will be: (1) growing the installed base of users, (2) increasing patient awareness of Eversense above current levels in order to expand the population of Eversense users, through driving sales and marketing efforts on the Eversense E3 system, (3) increasing awareness and adoption of Eversense by healthcare providers, including high volume CGM prescribers, through expanded targeted marketing efforts, (4) educating patients and prescribers regarding the six-month product and its benefits relative to the 90-day product, (5) continuing to grow the base of the authorized inserters through geographically targeted efforts so that potential users locating a qualified inserter of Eversense is not an impediment to adoption, (6) timely establishing and maintaining favorable payor coverage for the product, including transitioning commercial payors from 90-day coverage to six month coverage, and (7) Ascensia's continued organizational development of its U.S. sales and marketing capabilities relative to CGM.
Company Address: 20451 Seneca Meadows Parkway Germantown 20876 MD
Company Phone Number: 515-7260 Stock Exchange / Ticker: NASDAQ SENS
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