Senseonics Holdings, Inc. (NYSE: SENS), a medical technology company focused on continuous glucose monitoring (CGM) systems for diabetes management, saw its stock soar over 6% in pre-market trading on Monday. The rally came after the company provided positive updates on the commercial launch of its Eversense 365 implantable CGM system.

Eversense 365, launched in October 2024 in partnership with Ascensia Diabetes Care, is designed to continuously monitor glucose levels for up to 365 days with a single sensor implant. According to Senseonics, the system has seen strong early indicators following its launch, including:

• Record number of new patient shipments in November, the highest since the Ascensia partnership began
• 42% increase in the number of providers prescribing Eversense and 69% rise in prescriptions from top prescribers compared to pre-launch
• 47% increase in monthly patients switching to Eversense from competitive CGMs

Brian Hansen, President of Ascensia's CGM division, highlighted the product's appeal, stating that "patients have been elated with Eversense 365's reduction in calibration and ease of use, and providers are getting the consistent flow of data required to manage their patients' disease."

Senseonics reiterated its full-year 2024 global net revenue guidance of approximately $22 million and expressed plans to execute a reverse stock split in January 2025, pending shareholder approval. The move aims to enhance the company's appeal to institutional and other investors who may have policies limiting investments in low-priced stocks.