FDA Clearance Announcement Sends Small Cap Soaring

A Maryland-based healthcare company is turning heads so far during Tuesday’s session after the it was announced that the company’s Eversense 365 received FDA clearance as an integrated continuous glucose monitoring (iCGM) system for people with diabetes. According to this morning’s release, ‘with a single sensor, the Eversense 365 system provides one year of use, versus 10-14 days with short-term CGM’s for minimal life disruption.’

Shares of Senseonics Holdings Inc. (NYSE American:SENS) rallied strongly on the news, with traders quickly pushing the price up to $0.46/share (+16.57%) at the time of writing. This small cap might have some significant room to run seeing that it’s well off its 52-week high of $0.75.

Senseonics Holdings Inc is a medical technology company. It is focused on the design, development, and commercialization of the glucose monitoring system, which helps people to manage their diabetes. Its products and services include Continuous glucose monitoring system, Sensor, Smart transmitter, and Mobile app. The firm has a Glucose monitoring product segment. The majority of the revenue is generated outside of the United States.

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