Shares of Senseonics Holdings (NYSEMKT: SENS) rose by nearly 10% by the end of trading Thursday afternoon this week, according to data from S&P Global Market Intelligence . Senseonics is a small-cap player in the high-value and ultra-high growth continuous glucose monitoring (CGM) system market.
What sparked the stock's upswing this week? While the medical device company has so far maintained radio silence this week, investors are apparently piling into this stock in anticipation of a long-awaited approval for the 180-day version of the company's implantable Eversense device. Senseonics applied for a premarket approval to the U.S. Food and Drug Administration to extend the wearable life of the Eversense CGM system to 180 days on Sept. 30.
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Why Senseonics Holdings Stock Popped This Week