Second Sight's 30 Percent Jump Boosts Several Peers

Shares of Second Sight Medical Products Inc EYES surged more than 30 percent in early trading on Wednesday after the company announced successful implants of its Argus II Retinal Prosthesis System in France.
What is Argus II?
Argus II is the first approved retinal prosthesis system in the world. The system works to restore sight to patients who have lost their vision due to retinal pigmentosa (RP), a rare hereditary disease.
Forfait Innovation program
Last year, Argus II became the first medical device to become the recipient of Forfait Innovation, a French program that covers the cost of implantation and hospital fees for patients receiving the implants. According to Second Sight’s press release, 36 French patients stand to benefit from the devise and the Forfait Innovation program
Bright future
There are an estimated 1.2 million people worldwide suffering from RP, so the market for Argus II is quite large. The prosthesis is approved in the U.S., Canada, Europe and Saudi Arabia, and Second Sight is currently in the process of testing improved software for the device.
Stock plays
After the big pop on Wednesday, shares of Second Sight are now trading more than 60 percent above the company’s December, 2014 IPO price.
Investors are likely watching similar stocks for reaction to the Second Sight news.
Synergenetics USA SURG, maker of ophthalmology and neurosurgery equipment is trading up 1.8 percent on Wednesday.
STAAR Surgical Co STAA, which sells implantable eye lenses, is up about 3.5 percent.
Orthotic device maker Hanger Inc HGR is up nearly 2 percent on Wednesday.
Opthalmic device company TearLab Corp TEAR is trading up about 1.5 percent.
Escalon Medical Corp ESMC, developer and manufacturer of ophthalmic devices and pharmaceuticals, is trading down nearly 9 percent on Wednesday.