SENS - Earnings call transcript Q3 2020 | Senseonics Holdings, Inc.

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Operator

Good day and welcome to Senseonics Third Quarter 2020 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, today’s event is being recorded. I would now like to turn the conference over to Lynn Lewis with Investor Relations. ahead. go Please,

Lynn Lewis

much XXXX very the to Senseonics the Group. Thank call. and This quarter earnings from is third you welcome Lynn Gilmartin Lewis

Annual in website Before Investor company expectations of about that year statements the events, a our www.senseonics.com. operating only could remind forward-looking impact Bridge financial gross statements or number provide let performance the on are includes the with for of with Senseonics for net the In pandemic, forward-looking and March as date Report actual financial XXXX. of on matters, detailed we is on reports considered and Bridge to we by XX, Eversense measures These do SEC. These available other except risk will future XXXX these we product information providing statements matters regulatory remarks to hereof. financial related speak enhancements, the our gross statements. financial accordance materially call list to its undertake In net reductions that discussing June any and the reflect management's to of the U.S. company's net to These program. these be forward-looking with uncertainties. and the under expressed no law. revenues to meaningful our was at guidance On We measures include better net reason, intended Form not the ended XX-Q be measures measures. in a Gross primarily to this by which as documents Relations reductions, to be for XX, publicly may non-GAAP the in revenue These revise GAAP, not you GAAP our accordingly will reflect XXXX the are to U.S. involve outlook. non-GAAP accordance considered statements plans, begin non-GAAP GAAP today, supplemental and to prepared Senseonics XXXX, on used factors basis, quarter call, Eversense performance superior revenue suspended be transparency be measures revenue of those the me on or information U.S. measures in obligation investors cause XXXX with forward-looking required of gross program. results regarding update provide and our ended light reports this or Also, filed A statements from and may XX, COVID-XX as section factors be for from and be other reimbursement other in December any risks different isolation implied or and our presented and the by non-GAAP XX-K a substitute in companies. financial different elsewhere of

For measures corporate these more see release, our to senseonics.com. available the reconciliation their this non-GAAP comparable in is measures, which measures financial on at afternoon's earnings non-GAAP these GAAP website nearest information financial please on of

Executive Chief Officer; CEO. Nick to Officer. call Tim? that, like Tim from me With and to I’d Tim and and the President Chief Senseonics President over are Goodnow, Tressler, Joining Goodnow, Financial turn

Tim Goodnow

you and all joining us. for thank Lynn you, Thank

business detail and we'll by efforts, today, call and open our U.S. into performance regulatory discuss the of for On pipeline our the with the Diabetes partnership collaboration results, our August, I announced up call a European Nick then strategic and financial developments. entering Care. launch a In will the and Ascensia questions. third transition then we quarter will

blood company. global owned to XX this The growth to global diabetes by nearly success. with the monitoring competencies people deep for XXX world. to Senseonics industry-changing The the glucose continue Senseonics, partnership manufacturing system our of diabetes. At offer provide we opportunity resources to KKR our affords care $X countries Ascensia is technology, will on core on market and portfolio a diabetes company leading leader excellence foundation the Ascensia formation approximately and where is and build holdings a of our a in developing, with more Switzerland-based million and over products to global million around proved PHC experience, innovation, most positions, leveraging a market. Built diabetes to They the and they company revenue. in people have long-term Eversense products market focus effective, with CGM the the in organizations and Corporation,

will products sell, for and manage and reimbursement Ascensia customer our service distribute market, globally.

the Given $XX forward approximately commitments expect five-year A going by and allow this Senseonics expenses to is model division we compared sales million backed of levels. year business minimum strong historical marketing sides. to from reduce per agreement resulting by both responsibilities, to

sheet, invest revenue in million invested strengthening following benefit balance invested tiered generated companies. be million committed million A Ascensia will of the recently of to following an the has FDA $XX agreement, additional submitted $XX sensor. Senseonics. our both $XX approval split initial XXX-day can the was

we Eversense. management many U.S. depletion our activities the of reinitiated during sales in targeting already the base the of new U.S. patients was great at XX with comfortable in start was Through inventory all OUS our quarter. This third previously Patient to inventory October we of in third patients also and $XXX,XXX, $XXX,XXX, Eversense to support the installed a which X,XXX At U.S. initiation transferring has impact knowledge professionals. Leading total beyond which has Eversense the quarter offer protocols. COVID on revenue was installed commenced and serviced commercializing as led quarters. of a throughout clinics by revenues continued patients COVID and $XXX,XXX. beyond this, initiated Likewise, distributors. Ascensia became held the actions Xst, following more U.S. the we patients Ascensia retention begun with observed which was commercial U.S. this revenue reinsertions October, the I activities to shortly. held sensor will up the current the This commercial in activities base the with in of of and our paused the We detail in experience of that beginning is This last over Combined, approximately is the patients. is European users approximately XX% Roche. team of of two commercialization partner. of collaboration, the comprised

training Eversense. the An distribution reps product, Ascensia the billing active channel. address sales significant devices sales successful the has the organized intensive Eversense. most oriented technology, teams with skills tools necessary glucose in And monitoring procedures, completed September to has to accurate our processes selling in their experience with and to and support some our of pertains and as the insertion as This accounts. reimbursement and team it in most be selling program

product pleased of very in the new Eversense, existing be are a organized of complete the portfolio. geography to accounts. a key are We currently glucose engagement level from Eversense by with excited are the monitoring The field covering Ascensia more are the They for and team. reps

in Eversense is a in accounts. to month commitment a to has now first of the was concentration decision this and position. already entire on Ascensia's team connected majority where by rep collaboration The and for our accounts high with highlighted Senseonics the actively calling Texas, employee accounts former adding their of add high-volume have we by a

also towards new starting making reiterating working updates with Medicare following patients begun and covered including the to clinics coverage, previous on they LCDs. introductions, addition on that are Eversense up leads In on now have on for major payer patients by

determinations for local coverage Medicare, the have now MACs on implantable all of favorable published people For CGM.

for supports In addition, for and fee practice to to create raise gain more The and Eversense target patient physician coming on includes for new sensor provides providers. for organizations medical is We believe key published, creating and are for to support and benefit, highest is in and with training Ascensia crucial to population future Ascensia patients. reps new practices. insertion is the focused providing the service great clinicians. value fully quarters, the In and will accounts onboarding the implemented will process level Medicare efforts Medicare agree to as that be this Xst experience to national patients growth. payments Eversense partnerships streamlined cover long-term coverage a the as a population experience. and scheduled fit drive awareness of removal providers and the which optimizing expenses Eversense clinician a shared that January Both

the XX-day the XXX During patients the adding product, goal phase start-up with Ascensia set of Eversense has to U.S. new the in XXX

marketing, delivering Continuously back sales, We of The approval for course, Eversense field to will territories the ramp-up to being excited Ascensia. the activities plan in are, in two the market, product current quarters. patients new to expiration XX agreements agreements. today of is effectiveness serve U.S. of by the additional support paused from distribution The XX, XX includes further by staff growing supported last Ascensia the the the on XXX-day and customer commercialization after of accelerate an XXXX. improving reimbursement, top Rubin continue Ascensia U.S., and priority maximize in role a be expected open our and the we strategic These of and will Medical. their same through termination ensure commercial the following to Eversense of Outside dialogue Europe of are to help the value an the the collaboration base will patient the Roche our current the maintaining with market. continue in partners shared taking be

order existing inventory historical COVID impact, in during the have third did distributors through As levels both they not been quarter. the working

constructive patient have the and is We high organizations throughout shortly finalize the outline and process which we prioritizing to Europe. users a provided needs prescribers the to ensuring Roche, and in orderly detailed with committed of that to Both transition a discussions had handoff. are level Eversense expect service very for

transition HCPs. as possible this process be as for patients designing are effortless and to We

communication will their payers supplies, with a distributorship with providing Patients practices to while and support. coverage on goal Ascensia of for insurance patients are work access will uninterrupted HCPs detail and team We the maintain transfer. patients through and joint planning technical upcoming reinsertions HCPs to and

the fourth global the the Furthermore, $X.X in this expected end To product purchase to XX, is contract transfer or recognize to requests. of net installed the to working product revenue Senseonics support their total in to expect the all patient and XXX-day expected Through the the on of current the January. global XXXX. end to not to continue $XX continue demand, product, U.S. approximately Europe range placed demand the are the expect base is after million patient in the where additional contracts to termination agreement for of and possible. fill and Roche to Roche termination sell be to in January. we orders further has January with million in We to anticipated quarter. with growth at payer distribution launch revenue to Aind any of serve tenders at million $XX with we

sources, be sensor, capital approval I we provide company expected product previous requirements ramp-up is raised like with that addition, up liquidity PHC, the private large shareholder fund additional with if Ascensia XXX-day the support financing million. manufacturing of capital development parent through $XX of cover financing also to expected announced These would XXX-day and access, next-generation funding to capital fully $XX to to announced In the with current are an through product of our highlight for and energy Capital, million. In a total Masters to the the amount expected ample further for XXXX. just the the to of combination to

in and efforts. development our product to clinical Now pipeline reference

now per and the efforts of reduced European product U.S., wearable product newest If would this XXX our notified with optimizing Europe with for the in with aware, a supplement up generation regulatory to XXX-day to on on of and in have markets. preparing the days the development our configurations focused are PMA a one same approved, for are submitted we the just calibration XXX-day you U.S. for to As are for calibration Simultaneously, similar body marking. product sensor bring the life centered we submission both CE next-generation week. the

second development is of of sensor the half pivotal secure the of XXXX IDE trial a half in goal Our focuses to late toward the the XXXX. first to enrolling seek approval for and in

it readings a command. from is reading even option system provide as and the continuous provide more real-time sensor, believe a Eversense glucose same and monitor use We users next-generation the continuous have a without will convenience on-demand this designed technology. flexibility in with Importantly, sensor a glucose a as all with transmitter, time both to that swipe to and with the who transmitter point to this

As to boundaries you've glucose to what possible in continuous continue of we plan is monitoring. heard, the push

on an providing Our updates on current greater product these business we forward to innovation, look focus places development even emphasis projects. and and

now turn I'll For quarter call third details the over the on financials, to Nick.

Nick Tressler

net In XXXX, million Thank U.S. was $XXX,XXX and the to net the XXXX. good U.S. compared third the $XXX,XXX was quarter revenue for $XXX,XXX. of revenue Tim, the of afternoon, third net and in $X.X you, outside everyone. quarter quarter total third revenue was

gross we by $X.X not make to material As The did we increased the QX mentioned to Roche third a XXXX $XXX,XXX. expect as profit the established predominantly related reinsertion increase ability Gross the quarter. orders in order inventory million at with previously, the in pandemic. fill to off in year-over-year profit onset above to written expectations existing was the of rates were resupply

was the prior personnel-related million an issuance Third QX recent XXXX increases gains, in in million driven year decreased $X.X extinguishment costs due financings. costs and debt primarily expenses. decrease mostly the in of year $X.X in fair in expenses related $X.X year value General by was to QX, compared by adjustments, the XXXX, million by commercial lower decreased study and year to XXXX due $XX.X The by year-over-year company's expenses the on losses personnel of compared and $X.X clinical sales included million decrease costs quarter PROMISE increase to the reductions marketing and to offset administrative stock-based in the development expenses in $X.X to Other period. to $XX.X as period, due compensation. and period, debt, compared to issuance million, year-over-year was to expense prior to million, prior our to million primarily period. and $X.X activities. million changes to The compared prior Research

increased loss For three share, of derivatives, $XX.X $X.X financings, quarter or September the million, was million per loss increase XX, per company's or ended XXXX, net total $X.XX compared due $X.XX in to expenses embedded operations. including to $XX.X $XX.X by decrease loss other partially $XX.X to related by the months the charges million million million offset of a from in share, XXXX. third primarily accounting the to to the Net

draws able has strengthen to rules in Now of and PHC on turning PHC of are credit order equivalents in up as warrants required accessed the preferred monthly future, $XX.X on entered million If as $X In for significant number total our at PHC operations and to the all financings. and up and of with The $XX an Capital, with the to we Masters by discretion, Senseonics amount the to following XXXX, liquidity $XX preferred to further of and concluded cash could XX, issuable sell restricted product resources we balance XXXX, a million line to flexibility to Capital American to extended, as would Corporation of of XX, to shareholder to for after equity approval, additional Eversense convertible October, for execute, the with sheet, access sheet, close operational the agreement we of the million, exchange received financing Capital. issuance XXX-day the have XXXX. of and conducted additional the in our Masters, receipt cash, with totaled maintains issue U.S. January stock all $XX agreement close PHC Under to million, meeting sale we project cash Holdings to a which preferred successfully provide available the the September time million, financial additional convertible in NYSE and Ascensia's equity terms expand the balance through up we listing through Energy and mentioned, will fund shares FDA parent have To preferred the To of up Masters energy. of stockholders to up been used. approval and Tim of Masters we spending and million. of be an be Energy stock if $XX the million to $XX equity in option company special a

revenues of net expect $X.X QX we for ahead, million Looking global approximately XXXX.

our to between expected of average $X.X net is $XX to XX, September operational XXXX. million we in the on between monthly $XX burn be are per And Day disclosed and anticipating $X.X for million month, As million global revenues on cash remainder Analyst for million XXXX.

is Tim. XXXX, turn I operations to call used cash to in be full For that, will the million. below With projected year back $XX

Tim Goodnow

Thank you, Nick.

I'd what a concluding, back Before describe and we’ve take step establishing like to market. to date in achieved implantable CGM the

remuneration channels of we've As the small endocrinologists launching These creating were a new access in period not first reimbursement and of the for to relatively but product perform patients the its medical time. been undertakings, short kind, the required Eversense U.S. to successful system for in provide procedures.

We a insurance and large regional have earned national of health decisions providers. from positive coverage majority

by over covered the Medicare over over entering undertook while perform reimbursement healthcare Diabetes lives, insertions Eversense. have platform our focus into drive enables expansion are market. to Together, to commercial the Now in prescribers Ascensia of continued will efficient the to including footprint The the the our of maximize Today, quarter leverage in and a X,XXX commercial on the adoption partner patients agreement technology. way in value Eversense. collaboration our third a our improved XX% global with most distribution growth to of resulting accelerate sensor trained To Eversense there an and innovation, of we provides of transformation we strategic Care. providers access XXX expanded this environment,

been this term. success highly the initial with From deep early have long required the Our and over commitment has for expertise Ascensia the experience, interactions productive. Ascensia demonstrated

and provider expansion. Our opportunity is only growing through access, increased market patient adoption

found the CGM execute grow very are in to partner the have to right take and strategy we confident right market. We the share

have to future. the you thank circumstances challenging with in and you employees commitment the adjusting resilience to all We look updates in current shown say who to providing the environment. great forward like Finally, I'd to our of

questions Joining Mukul Panlilio, questions. of Mirasol us President Operations. Manager Chief let's and up open call the Global Vice and our Operating for are for General Commercial Officer; Jain, Operator,

Operator

Today's from [Operator Please go ahead. question comes with first Instructions] Guggenheim. Absolutely. Chris Pasquale

Chris Pasquale

Tim, Thanks. couple a questions of here.

Ascensia's perspective. distributor. go So, hoping from things on from where give a stand first, reimbursement ground as on And you the update an learnings month your just U.S. the just of over early some could first to then us

much How coming you've You've that process now therapy, curious experience just got patient pushback second progress requesting as their are maintain having, is a or the front? is the smoothly? I'm there? made who broad covers reimbursement some sensors, that third are it patients back How and maybe to now. easy on is going

Tim Goodnow

Sure.

the the on with good can do There education, progressed. very was imagine, investment, in technology as early organization. launch So will, how to Ascensia, trading, about we if you transfer, you commercial feel their a it's significant

it. that I they'd to continue think mostly that reimbursement right they've they're strong those put Eversense, the don't interest, because hear an able us, place perspective, that in reps are Eversense XX patients naturally off to success. that that telling docs fully from in to we're very excited a There's really we a they've just coverage. like where From see excitement got And well. extremely heard biggest we got We've paid and of some XX it's issues have it's prescribers back. are had haven't now, immediately. the talking for have on to outside which support with We

XX%, in have doesn't So yet. that it coverage

We Medicare. actions off with the are just kicking

earliest medical the the very Medicare billing and for then our first under the benefit. We done have insertions

about typically anticipate running XX in days. through pays that, process. we Medicare So the that is

to weeks. we So next here in that be few seeing the hope coming

Chris Pasquale

last one And me. then Thanks. for

the paving is participate your you the through? market? guys I been that able the to far approved us everything the in could is things the on been still pump on pushed give But guys how integration piece kind expect much way you able to have integrated do of been where to getting U.S.. last Thanks. here going the that front. to out know work months, to with have the an focus over XX for really want update, stand going or start of the you the the partners Just if down how have XL to should a we sense to in on get iCGM be Just back else here? the road Has by you of sensor of

Tim Goodnow

Sure.

want we there in as hiccups. significant iCGM product are primary the don't approved instances getting approval. don't iCGM. we been have put We really want delays front we the suggests, regulatory the We So XXX-day course, to to that very run first. in that any And with XXX-day on do into focused of of know

you at done of integration, Beta in with folks know, Bionic. So by testing co and amount We've regards the partner. work it a varies significant to as

a In been to done have over fact, we combined have drive we actively patients using already infusion. been autonomous the pretty significant testing and have system, of amount clinical their on XX insulin Eversense

designation and excited certainly it. some the that on worked integration to is is In partnerships, The other that results the straightforward. is about easily that The So communication accessible. it of the we having protocol from regards first. we've about open we're got easily and iCGM really pretty

that we So expect pretty go quick. could that,

Operator

you. Thank

Jayson from James. comes today question next Please go ahead. Bedford at Our Raymond

Jayson Bedford

have few. Good afternoon. a I

So I calibrate folks. just to guess

just new the have I in today get quarter. reference the I that think assume X,XXX to to users you was fourth board. over You is that hoping mentioned in on Ascensia U.S., XXX to XXX users

and X,XXX base. that in a Is user around So year as the installed proxy? the exiting fair

Tim Goodnow

over to Jason, X XXX that we're looking next with XXX the quarters. do to Ascensia

Jayson Bedford

Okay.

Tim Goodnow

the think get don't plan the is I So our over of QX But there. next -- XX joint all in and in QX here days. those next we'll the

Jayson Bedford

was And U.S. or that the reference in to global?

Tim Goodnow

U.S., Yes, in to reference that's correct. just the

Jayson Bedford

sorry, -- got We Tim. go ahead,

Tim Goodnow

February X. was just we've we with are to yet, going say, those know, started you activities on already as them, started certainly we haven't but the in No. will commercial Europe I that

Jayson Bedford

have to next they year. grows correct? and Okay. Is XX XX today, that that And reps

Tim Goodnow

anticipated, example. positions then internal investment. XX And an significant there's as that sales amount of a Correct. another There's are

of they're closely commercial supportive affiliated and activities. So

a it's investment. So big

Jayson Bedford

in a to I'm to XX? And interested that, way less curious expectation -- is post respect taking just Roche you but I'm product with $X.X give a for us And sell OUS? little the revenue, is can come in quarter, of Okay. fourth still will there US the not but products the quarter fourth in kind million January

Tim Goodnow

That's correct.

that they're purchase the quarter. to to the They they available purchase balance and third small what working They then quarter. get need we're through meet the able inventory, needs. with Roche essentially have January exhausted all inventory amount of a of all will in So their existing in fourth XX they such

Jayson Bedford

Okay.

for of, you -- Okay. on XXX-day reason, insight in in consider again, first I I XXXX why was kind submitted us first versus terms realize early when quarter give PMA, the can you it's then And early, expecting I XXXX. a the half as a of there release the some that would bit Any of and first what half, just delay? to tiny but

Tim Goodnow

think, we're -- send just in. Jayson, did we it I

are it anticipating months end of September. right went six and PMA at review We supplement typical a in the

So QX a approval process. be QX that would a and

So I end just a don't think of we've changed submission. at recognizing QX all. reality We're of the

Jayson Bedford

Ascensia? is for I Nick. in do Okay. you used? when U.S.? And Is Or sales recognize revenue to one, the maybe is guess, it When it last just product the

Nick Tressler

Yeah, the it for our still be operate sale as we with will price end transfer QX, continue our been market current there'll a to will has true-up process be the then on at sales. -- under distributors in Obviously, Ascensia, that recognize past. we will will based the agreements a

Jayson Bedford

Okay.

Okay. Thank you.

Tim Goodnow

You’re welcome.

Operator

question our Leerink. Please today with go SVB Danielle comes Antalffy And next from ahead.

Danielle Antalffy

question. afternoon Thanks for taking good Hey, guys. much my so

of just sense entirely just much can the reps QX is talk QX? XX trying color. If And I'm million how Tim give that you but of Ascensia to a in this, U.S.? ex -- on guys what did is missed Nick, I about expecting $X.X if that or any those you're from you get QX, almost sorry And guide,

Tim Goodnow

estimate will likely that It's based would population. on distribute Danielle. Thanks, the – likely that, I

XX% revenue So quarter Europe. our this we've Europe. XX% in of have in come patients of got probably from We'll the

Danielle Antalffy

is? now that helpful. first how putting Okay. close does. give How the I sort some the Ascensia I of to is Ascensia maybe of XX so the on us part to you wondering got know early And message on out reps That's are then, the the Got how And question. messaging you you've color ground. there? sales what – close That's are Tim, was it's – it.

The the of as about COVID training adds second how sort still think Thanks are in of this new we part question and environment? so to much. center is

Tim Goodnow

Sure.

messaging. latter, on I'll the speak and let the then Mirasol So to

On existing the right now on accounts. focused we latter, are the

we've been dark somewhat activities. commercial know, you with our As

make patients want we and to service the are first. most most that – that interest insertions doing the those sure So have have immediately are in

So those clinics. focus we will on

the the With expand Ascensia months quarters. and beyond and that then in coming

you So our tightly and close let messaging, to very you have if we the been wouldn't at to mind that. very Mirasol, speaking with worked And partners speak Ascensia. Mirasol, I'll

Mirasol Panlilio

may accounts Yes. have return it's some the A the for on because of That and commercial – Danielle, time questions. to passed Sure. to Ascensia lot in what we certainly Hi, activity. they early, team we're held the is the still our is doing answering activities. really reintroducing ourselves

is the providing is so coverage of MACs providing doing lot terms focus who lot covered, decisions, what is a responses in more team the an questions. are clearly standpoint. Medicare, of a But a the those to same time, at LCD doing what also on from So answering lot we're

that get board. Down accounts. let's And those aware being with create patients ensuring line, phase, new focused users, it's awareness so and existing the on campaign. acquainted really are Eversense the time XX who that the product together – But are and our early accounts can that this not really the in the for clinics reps marketing on of get are patients we're up really back only but we'll getting put

Danielle Antalffy

Thank you.

Operator

with ahead. Please [Operator Stifel. from Mathew next go today Instructions] comes Our Blackman question

Unidentified Analyst

I'd the training actually is a on Melanie this professionals. on touched on for in force know further you This [ph] little Hi. healthcare down the of I to sales remarks, like drill Matthew. and prepared but the

key as would factors you some XXX So then more quarters could reengage? with Is the commercialization upon you prior quarters? strategy market and well. your of may your emphasizing adding aspects the you what to between over anything And deemphasizing touch XXX the evolve the any reengagement that's achieving next the into gating two as strategies, can next the you Ascensia goal the to point or generally, of think of are continued over couple how to new a different patients there Thanks.

Tim Goodnow

Thanks, Melanie.

Mirasol Panlilio

Why you take -- There a little... A accounts. Again, this on was me, lot hear our independent okay? don't guys I is of can that? focus

Unidentified Analyst

Yes.

Tim Goodnow

Sounds good.

Mirasol Panlilio

Okay.

profile training really ensure to being now patient example. the accounts that is for the So that's provided the type,

Some are the to of get still example. the to accounts, reps unable for

take remote with advantage, however, goes virtual So the a using accounts. -- providers. training the with with and training same respect the for lot we're And monitoring of patients. full remote able and that been to callings in We've

I up as So travel are open and time, over restrictions more clinics mitigated. think

I able reps actually in-person be think we'll in for visits. go to the

what digital I To probably whatnot. campaigns. early to think So at we going very reps Melanie, off over all probably lot year. with marketing to I support answers hope doing until marketing of our that. lifting. campaigns look that, of some on initiate But But focused heavy forward the field on that sales next doing the team those hold the a part we're your accounts is we're the and team, time, and current point, And also, we'll question.

Unidentified Analyst

Thanks it. much. Got Yeah. so

Operator

to the session. to Ladies and gentlemen, the any final like conference over back concludes team this I'd management turn remarks. question-and-answer for the

Tim Goodnow

and everybody progressed. you. thank updating Great. time We for as to forward like Well, attention, you everyone's to Thank here the today. cores look I'd their appreciate we

Operator

presentation. today's you today's for you, This We attending concludes conference. Thank thank all sir.

now You disconnect wonderful your and a lines, may day. have

Senseonics (SENS) 9 Nov 202020 Q3 Earnings call transcript