Senseonics (SENS) Stock: Why It Surged 21.56%

By Amit Chowdhry ● Aug 5, 2022
  • The stock price of Senseonics (SENS) surged by 21.56% in the previous trading session. This is why.

The stock price of Senseonics (SENS) – a medical technology company focused on the development and manufacturing of long-term and implantable continuous glucose monitoring (CGM) systems for people with diabetes – surged by 21.56% in the previous trading session. Investors responded positively to Senseonics Holdings announcing that Anthem is providing coverage for implantable CGM, which includes the Eversense CGM System. 

Anthem’s decision is going to add over 45 million covered lives for the long-term implantable CGM system to help manage their diabetes. And this recent coverage decision adds to the growing number of payers who are writing Eversense into their CGM coverage policies that now benefit approximately 250 million covered lives, as well as paying for the healthcare provider’s time for the in-office sensor insertion. This allows Ascensia Diabetes Care, Senseonics’ global commercial partner, to introduce the Eversense CGM System to more people living with diabetes.

Anthem (now Elevance Health) is known as the second largest health insurance company in the U.S. and a leading health company dedicated to improving lives and communities, and making healthcare simpler. And through its affiliated companies, Anthem serves people across 14 states, including more than 45 million within its family of health plans. 

This most recent coverage decision – in addition to Cigna, Aetna, Humana, HCSC Blue Cross Blue Shield and other health insurance providers – demonstrates broad-based coverage across the United States from the majority of commercial payers, enabling their members to access the benefits of the long-term Eversense CGM System.

KEY QUOTE:

“Anthem is dedicated to delivering better care to its members and improving the health of the communities it serves. We are excited for Anthem members to have the ability to effectively manage their diabetes through the only long-term implantable CGM system available. Eversense provides patients with actionable glucose data, enabling users to proactively manage their glucose levels. With its six month sensor life, sustained accuracy, on-body vibratory alerts and remote monitoring capability, Eversense E3 offers patients an advanced CGM to help effectively manage their diabetes and experience healthier outcomes.”

— Tim Goodnow, PhD, President and Chief Executive Officer of Senseonics