Senseonics slumps on highly dilutive $80 mln share offering

Toronto-Dominion Bank

01/05/2026 11:53

** Shares of medical equipment firm Senseonics SENS.O tumble 21.5% before the bell to $5.19 after dilutive $80 mln follow-on priced

** Diabetes monitoring systems maker late Thurs announced an offering of 8 mln shares and pre-funded warrants to buy 8 mln shares

** Offering price of $5 is 24.3% below stock's last close

** Germantown, Maryland-based firm has 41.8 mln shares outstanding

** Co intends to use net offering proceeds for ongoing launch of its Eversense 365 system, continued development of its pipeline, among other purposes

** TD Cowen and Barclays joint bookrunners, joined by Mizuho and Lake Street

** Through Thurs, stock had gained 20% YTD

** Of 8 analysts covering the stock, recommendation breakdown is 5 "buy", 2 "hold" and 1 "sell"; median PT $19.25, according to LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))