Senseonics Inc., of Germantown, Md., reported gloomy results for its 2019 third quarter, with revenue of $4.3 million, down 17% from the same period last year. The tally also fell far short of the consensus on Wall Street, which estimated third-quarter revenue of $6.07 million.
Virta Health Corp. reported 90-day data from a pilot study of its Virta Treatment for type 2 diabetes (T2D) in military veterans. Conducted jointly by Virta and the U.S. Department of Veterans Affairs (VA), the pilot shows 84% of participants who used the low carbohydrate and diabetes coaching model reduced their glycemic levels to below the diabetes threshold or experienced at least a one-point drop in HbA1c, a measure of blood sugar.
Most weight loss interventions target obese or super-obese patients who have adjacent comorbidities, such as type 2 diabetes or sleep apnea. But Boston-based Gelesis aims to change that with its hydrogel pill Plenity.
Diabetes management company Dexcom Inc. trounced Wall Street forecasts for the third quarter of 2019, with the company reporting worldwide sales of $396.3 million, up 49% from $266.7 million in the same period of 2018. Dexcom officials attributed the surge to volume growth plus new patient additions as providers and consumers become more aware of the benefits of real-time continuous glucose monitoring (CGM), where Dexcom's G6 has seen steady demand since launching in June 2018.
San Diego-based Tandem Diabetes Care Inc. reported financial results for the third quarter of 2019, with worldwide pump shipments soaring 112% to 17,839 pumps from 8,434 pumps in the same period a year ago. Revenue rose 105% to $94.7 million, up from $46.3 million in the third quarter of 2018.
Abbott Laboratories and Tandem Diabetes Care Inc. said Tuesday that they plan to develop and commercialize a line of integrated diabetes products based on Abbott's glucose sending technology and Tandem's insulin delivery systems. The collaboration comes as the U.S. FDA is encouraging medical device manufacturers to consider the ability to share and use information safely and effectively in the development and design of connected devices.
Polarityte Inc., of Salt Lake City, reported positive results from a pilot study of its Skinte regenerative skin product in the closure of venous stasis leg ulcers (VLUs) after standard treatments have failed. The findings were reported at the Symposium on Advanced Wound Care fall meeting, Oct. 12-14, in Las Vegas.
Bayer AG led a $40 million series B financing for Informed Data Systems Inc. (IDS) and its One Drop diabetes management platform. The pharma giant also inked a licensing agreement to leverage IDS, which does business as One Drop, in therapeutic areas beyond diabetes and secured a seat on One Drop's board of directors.