Ocular Medical Device Firm Sight Sciences Sets Terms For $150M IPO

  • Ophthalmic device developer Sight Sciences SGHT hopes to see its way to nearly a $1 billion valuation through a $150 million Nasdaq debut.
  • The IPO includes 7 million shares under the ticker symbol SGHT at a price ranging from $20 to $23
  • The company's portfolio includes the Omni Surgical System, a hand-held, single-use device used to help drain fluids from the eye and reduce intraocular pressure in patients with glaucoma. 
  • Its nonsurgical device, the TearCare system, is worn over the eyelid to apply localized heat to treat dry eye and gland dysfunction.
  • And despite the COVID-19 pandemic, last year saw positive sales growth compared to the 2019 calendar year, with revenues of $27.6 million over $23.3 million, respectively.
  • By going public, the company hopes to fund ongoing and future clinical trials for both its marketed systems and other R&D and commercial efforts, according to a prospectus filed with the SEC.
  • According to the prospectus, sight counted more than 100 on its direct sales, marketing, and support staff.

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