Senseonics (NYSE:SENS) shares rose slightly today on second-quarter results that were mixed compared to the consensus forecast.
The Germantown, Md.-based implantable continuous glucose monitor maker also announced a deal with Ascensia Diabetes Care for global commercialization and distribution with concurrent financing worth up to $50 million.
Senseonics posted losses of -$7.5 million, or -3¢ per share, on sales of $261,000 for the three months ended June 30, 2020, for a -75.8% bottom-line slide on a sales decline of -94.3%.
Adjusted to exclude one-time items, earnings per share were breakeven at zero, 9¢ ahead of Wall Street, where analysts were looking for sales of $1.43 million.
“Our second quarter results demonstrate significant expense and cash burn reductions resulting from our suspended commercial operations and other cost reduction initiatives,” Senseonics president & CEO Tim Goodnow said in a news release. “Anticipated rev…