Second Sight Medical Just Had Another Big Day...And More Headlines Could Be Coming
Second Sight Medical Products Inc (NASDAQ: EYES) shares were up sharply in early trading Tuesday after the company reported positive clinical trial results from a three-year multi center study post-implant of its Argus II Retinal Prosthesis System.
The stock closed at $16.28, up 3.1 percent on the day.
Shares are expected to remain in focus over the next few days as Second Sight's CEO Dr. Robert Greenberg is also scheduled to present at the JMP Securities Life Sciences Conference on Wednesday.
The company is based in Sylmar, California, and develops implantable visual prosthetics as ophthalmic aid for blind patients. The company has developed the Argus® II Retinal Prosthesis, which provides useful vision to individuals with outer-retinal degenerations such as Retinitis Pigmentosa (RP).
The company is enrolling patients with Dry Age-related Macular Degeneration in a trial to test the safety and utility of Argus II Retinal Prosthesis.
Details Surrounding The Study
Around 30 patients across the U.S. and Europe were evaluated in the latest study. It included three visual function tests which were performed using computer-run assessments. In addition, two types of real-world orientation and mobility tests were also performed.
At the end of the three-year period, 29 of the 30 patients remained implanted with functioning Argus II systems, and showed improved visual function. In addition, orientation and mobility functions were maintained throughout the study period.
Dr. Allen C. Ho, MD FACS, Director of Retina Research at Wills Eye Hospital and also a Professor of Ophthalmology, described the data from the study as quite remarkable. Greenberg, meanwhile, said that the company was excited to see positive results from the study, which support the safety and benefit of Argus II.
The positive data is important for Second Sight as it will help the company in its efforts to secure regulatory and reimbursement approvals for its device globally.
Argus II is the first retinal implant to have both FDA approval and the EU's CE mark, which gives it a competitive edge.
Second Sight's presentation on Wednesday will begin at 1:00 p.m. ET.
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