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Here's Why Senseonics Stock Skyrocketed Today

By Joe Tenebruso - Jun 4, 2021 at 4:20PM

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The healthcare specialist's innovative sensors could help people with diabetes better manage their health.

What happened

Shares of Senseonics Holdings (SENS 4.70%) soared 43% on Friday after the medical technology company announced promising clinical trial results from a study of its implantable continuous glucose monitoring (CGM) system. 

So what

A study designed to evaluate the Eversense CGM system in diabetes patients over a 180-day period demonstrated that the confirmed hypoglycemic-alert detection rate was 93% for the system's primary sensor and 94% for its secondary sensor. 

A person is pointing to an upwardly sloping stock chart.

Senseonics Holdings' stock price surged on Friday. Image source: Getty Images.

Moreover, there were no serious adverse events reported during the study among its 181 participants. All of the sensors were successfully removed, with only 1.1% of patients experiencing a mild infection at the procedure site.

"The accuracy profile demonstrated by Eversense in the Promise study validates the role that long-term implantable CGM systems can play in helping people manage their glucose levels," Dr. Satish Garg, study principal investigator, said in a press release.

Now what 

Senseonics' Eversense CGM system helps people with diabetes track and manage their glucose levels. A medical professional inserts a sensor subcutaneously in a patient's upper arm. A smart device that's worn over the sensor then sends data to a mobile app that displays glucose values and alerts. It's an innovative design -- one that could help to make diabetes an easier condition to live with.

"The value of CGM for patients with diabetes, especially those requiring insulin, is unquestioned," Dr. Garg said.

Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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